Business
One companies statute since the 2022 Business Companies Act
Belize consolidated its domestic and offshore company regimes. The Belize Companies Act 2022 replaced the old Companies Act and the International Business Companies Act, ending the ring-fenced IBC after OECD and EU pressure, and introducing economic substance requirements.
Key rules
- A company may be formed with a single shareholder and a single director; no minimum capital applies.
- Incorporation is through a registered agent filing with the Belize Companies and Corporate Affairs Registry.
- The old IBC regime was abolished; all companies now sit under one statute with a common register.
- Economic substance requirements apply to relevant activities under the Economic Substance Act 2019.
- Beneficial ownership must be filed and kept current, and a register of directors is maintained centrally.
Governing law
- Belize Companies Act (No 11 of 2022)Unified company law.
- Economic Substance Act (No 15 of 2019)Substance tests for relevant activities.
- Trusts Act (Cap 202)Belize trusts, widely used for asset protection.
In practice
Existing IBCs were transitioned to the 2022 Act and must comply with the new filing and substance rules. A registered agent is mandatory, and Belize's removal from the EU Annex II list depends on continued compliance, so filings should not be allowed to lapse.