THE HISTORY: Belize history goes back centuries ago, back when the Maya civilization first settled in Belize back in the 1500s. Archeological sites such as but not limited to Cahal Pech, Altun Ha and Caracol stand as proof of the initial civilization.

 

Archeologists date European settlement back in the 15th century when Columbus commenced his explorations across the coast. Recorded English presence was made in 1638 when English seamen became shipwrecked in Belize, and from that point onwards additional English settlements where made.  However attacks from neighboring nations, pirate raids seeking to increase their territorial boundaries became very frequent. 

 

Until the battle of St. George’s Cay in 1798, both Britain and Spain where equally claiming the land.  The battle ended with the victory of Britain and thereby the land was thereupon known as a British colony called ‘British Honduras’. 

 

The land was only officially named as ‘Belize’ in January 1973, after the grant of full internal self-government in January 1964. Despite the fact that by 1981, Belize was a fully-fledged independent land, Guatemala refused to give it such recognition as they also had been claiming the territory ever since the early 1800s. Guatemala eventually recognized Belize’s independence in 1991, yet they still claim more than half of the territory of Belize.

 

THE CLIMATE AND TOURISM: Belize is located on the northeastern coast of Central America; the official language is English, although Spanish and Belizean is also spoken by locals. The climate of Belize is characterized as Tropical; being very hot and humid, has a rainy season which commences as from May and goes through November, there is a dry season which starts from February and finishes in May, and a Hurricanes season which begins in June and finishes in November, and which essentially leads to coastal flooding. 

 

TAXATION & DOING BUSINESS IN BELIZE: Businesswise, a company incorporated in Belize is a tax-free and exchange control-free limited Liability Company. It is a requirement that any activity that may result in profit must be made outside Belize however it is a fact that a company can still operate in light of the laws of Belize within the boundaries that indicate its existence as an IBC and still enjoy all the benefits that the relevant laws of Belize offer.

 

Belize locals are famous of having respect for their heritage, which is why they have many of their natural treasures are still well maintained to this day and this includes hidden waterfalls, excavated ruin sites, deep caves, green landscapes, statues and many more. The local’s favorite leisure of the day is fishing at the ends of the piers or enjoying drinks by the sunset beach.

 

The government structure of Belize is Parliamentary democracy founded within the British Commonwealth sphere; hence the legal system is strongly based on the English legal system. Belize’s local government is made of four types of local authorities; town councils, village councils, city councils and community councils.  Belize City and Belmopan comprise the two city councils.

 

The main features of a Belize company:

 

• At least one director or shareholder is required, it can be the same person;

• The director and shareholder can be either legal entitiies or natural individuals irrespective of the nationality;

• The name of any director and shareholder is not stated in any incorporation document nor public record;

• Privacy is ensured by the use of nominee Director and shareholder nominee;

• Shares can be issued in any main currency;

• Stamp duties and taxes are not imposed onto IBCs;

• Bearer Shares can be issued;

• No exchange control regulations can be imposed;

• An IBC may engage in any lawful business and investment operations but no trusts, banking and insurance activities as such actions require the posession of a relevant license; and

• Good Standing Certificates can be attained from the Belizean Registrar.

 

When used as an IBC, a Belize company may be used as a vehicle to lease and own property, create and manage estate planning, optimize tax efficiently and in addition create trusts and conduct transactions without having border limitations.