Belize Company Registration Services by Venture Overseas
Belize Company Registration may seem challenging at first, but it can be straightforward if you have the help of expert professionals.
Belize is a country in Central America that has a small, mostly private enterprise economy which is based primarily on agriculture, agro-based industry, and merchandising. In addition, tourism and construction recently assume greater importance.
With abundant natural beauty and plentiful harvest in fish and crops, Belize’s agricultural and tourism industry continues to grow, hence attracting financial investors from around the world.
Belize Company Registration Procedures
Company registration in Belize will take up to 48 days in total and involves several procedures with various agencies.
The main procedures are as follows:
Conduct a company name search
The applicant can travel to the capital city, Belmopan, to visit the Registrar of Companies and Corporate Affairs (or Companies’ Registry) and conduct an availability search on proposed company names. Doing so in person is free of charge but alternatively, a request can also be done by e-mail or fax for a fee of BZD 50.
Register company statutes, memorandum and articles of association
Belize company registration requires registration of the company statutes, memorandum, and articles of association at the Companies’ Registry. After payment of relevant fees are paid directly at the Companies’ Registry, it will then take one week to issue the certificate of registration.
Submit application for a trade license
After submitting the application for Belize company registration, the City Council will send an inspector to visit the site. After this, the inspector will then arrive the next day. The applicant will then have to submit an application for trade license and attach a certificate of compliance from the Companies’ Registry and proof of residence.
Pay for the trade license
Pay fees to the City Council and will cost up to 25% of the annual rental value of the premises, according to the inspector’s assessment.
Make a company seal
The applicant must then make a company seal. This can be done at any stationary store and will cost between BZD 50 and BZD 200, depending on the material chosen.
Register the company with the tax authority
Applicants can register with the Income Tax authority and General Services Tax authority by presenting the certificate of compliance. Business operations may commence at this time but the company must withhold the taxes payable. Failure to do so will result in penalties.
Register the employees with the Social Security
All employers must register their employees with the social security authorities. For the most part, confirmation of the Belize company registration will take around two months. Fortunately, operations may begin in the meantime, but the company must take into account the taxes payable.
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