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Agreement on Processing of Personal Data CZ / EN

Belize

  • Belize is less-known tax heaven, located on the coast of Central America. Belize borders with Mexico and Guatemala.

    Capital: Belmopan

    Official languages: English, Spanish

    Official currency of Belize: Belize dollar (BZD), fixed exchange rate to the US dollar (2BZD/USD), or US Dollar

    Description and advantages of Belize offshore company

    • For offshore purposes is used the International Business Company (similar to Czech s.r.o.)
    • Zero income tax when income becomes outside Belize
    • Unlimited amount of share (basic) capital of the company, this capital do not have to be paid
    • Bookkeeping or annual submission of tax returns is not required
    • Advantageous for the registration of ships and vessels
    • The use of nominee service (nominee shareholder and nominee director)
    • Confidential commercial register – data on persons involved in the company has a registered agent only

     

    International Treaties

    International treaties to curb money-laundering and the financing of terrorism

    Belize has signed these treaties. Practical importance of these agreements for the owners of offshore companies is particularly in the case of suspicion of money laundering or terrorist financing by authorities against the Belize company. In this situation the registered agent is allowed to disclose the personal data of persons involved in the company and the basic description of its activities to authorities and further according to international cooperation transmit the data to other country as well to the Czech Republic.

     

    Double Taxation Avoidance Agreements between Belize and the Czech Republic

    Is not concluded. To direct payments from the Czech Republic to Belize is necessary to apply withholding taxes. Belize offshore company is not suitable for direct sale of goods or services into the Czech Republic.

     

    Tax Information Exchange Agreements between Belize and the Czech Republic

    Is not concluded.

     

    Convention on Mutual Administrative Assistance in Tax Matters

    It is concluded – a lower level of anonymity of property. Provides the possibility of exchange of information in tax matters.

    Common usage of Belize company

    • holding, parent company, other companies for the purpose of anonymous property
    • direct sale of goods and services where there is no need to use Double Taxation Avoidance Agreements and there is no risk of withholding taxes – eg. within other offshore destinations
    • registration of ships and vessels
    • means to obtain Belize citizenship

     

    The Advantages

    By incorporation in Belize the business receives a wide variety of competitive advantages, including:

    • international level for performing business
    • no requirements for profession or financial situation of directors
    • no reporting requirements
    • no accounting requirements
    • no duty on any type of income
    • legal exemption from tax
    • the highest level of privacy
    • stable jurisdiction with very good reputation
    • bearer shares are permitted
    • companies registered in Belize shall be exempt from any type of taxation, they have a capacity to perform any types of business and may have clients, suppliers and employees from any country

     

    Watch tax update 2019

    FEATURESBEFORE JANUARY 1, 2019
    NOT REQUIRED
    AS OF JANUARY, 2019
    WITH PHYSICAL PRESENCE
    AS OF JANUARY, 2019
    NO PHYSICAL PRESENCE
    Residency and property ownershipRestricted – not to include land, shares, debt obligations and other assets in BelizeNot RestrictedNot Restricted
    Shareholding OwnershipRestricted to non-residents of BelizeNot RestrictedNot Restricted
    Subject to Income and/or Business TaxNoYesSubject to tax if income/receipts sourced from Belize, otherwise not subject to tax
    Filing requirementNoFile annual tax return, pay monthly business tax.File annual tax return if income/receipts sourced from Belize. Otherwise, optional to file annual tax return.
    Dividends (paid or received)Tax exemptTax exemptTax exempt
    Interest (paid or received) on bondsTax exemptTax exemptTax exempt
    Standard currencyUSDUSD with operational activities conducted in Belize subject to BZDUSD
    Exchange control permitNoYesNo
    Stamp dutyNoNo, unless IBC owns property in Belize other than shares in another IBCNo, unless IBC owns property in Belize other than shares in another IBC
    Physical presenceNot requiredMandatory for licensees of the International Financial Services Commission (IFSC)Optional for Others not having an IFSC license
    Accounting recordsYesYesYes
    Audit requirementsNoMay be required by the Commissioner of Income Tax if annual receipts are at least US$6mnMay be required by the Commissioner of Income Tax if annual receipts are at least US$6mn
    Tax resident in BelizeNoYesNo
    Certificate of Good Standing (CGS) requires tax complianceNoYesAno

    Tax rates in Belize

    Type of business / activityRate % on gross Income
    Commissions and royalties5.0% & 15.0%,
    0% for non-residents
    Local dividend withholding tax15%,
    0% for non-residents
    The interest income from financial institutions6%, 12% & 15%,
    0% for non-residents
    Income of radio, television, and newspapers companies0.75 %
    The income of service stations including fuel/lubricant0.75 % & 1.75 %
    Income of national airlines1.75 %
    Insurance premiums1.75 %
    Regular trade or business1.75 %
    Services for the supply of electricity1.75 %
    Rental Income3.0 %
    Casino and gambling8.0 %
    Real estate business1.75 % & 15.0 %
    Tour operators and travel agencies6.0 %
    Construction1.75 % & 6 %
    Professional services6.0 %
    Dividends paid by telecommunications service provider0 %
    Revenues from telecommunications provider19.0 %
    International financial services (IFSC License Holders)3 %

    What is included

    • annual license fee
    • company director and company office – the fee until 31st of December

     

    Belize offshore company incorporation

    Belize currently offers one of the most competitive and attractive offshore jurisdiction in the world in connection with confidential offshore law. Belize is the only country in Central and South America with English as an official language.
     

    Taxes

    Mainland country with a diversified national economy, Belize does not stand out as a distinct “tax heaven”.

    Belize has modern International Business Companies Act, Hedge funds law and Offshore banks Act, all focused on providing the best environment and benefits for international investors and entrepreneurs. These laws are effectively supported by the financial service sector.

    Belize does not disclose information even on suspicious of tax evasion or similar reasons. In addition it is completely tax-free the Belize IBC has no requirement for the minimum amount of paid-up capital, also no requirements for providing reports on the accounts.

     

    Bearer shares

    No record of directors and shareholders in a public register, the availability of bearer shares (immobilized).
     

    Confidentiality

    Client confidentiality is strongly grounded in Belize business legislation. In Belize legal system is also grounded the prohibition of sharing information, confidentiality and sharing agreements which protects the law and judiciary. In these respects Belize is sufficiently secure and confidential offshore jurisdiction.

    Belize IBC is an ideal tool for all international business or services.

     

    Types of companies

    • Limited, LTD
    • Corporation , CORP
    • INC
    • Socite Anonyme , S.A.
    • Aktiengesellschaft, A.G.

     

    Belize Bank Account

    Additionally, we can help you with opening a bank account in Belize for your company.
     

     

Contact
Tetragrammaton a.s.

Žitná 562/10
120 00 Praha 2 – Nové Město

+420 777 025 554
+420 777 775 524

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Agreement on Processing of Personal Data CZ / EN

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