Over the years, many local businesses expanded their activities with a virtual and online presence and market place. The advantages of advanced technological innovation and globalization was furthered by large-scale availability of the internet. As such, customers these days can come from all around the world. This development allows entrepreneurs, small businesses and location independent professionals to shop for the best locations of incorporation.
To unlock the global potential of a promising venture, it is essential to expand internationally. Locating the appropriate location that meets your true needs of establishment and incorporation deserves proper investigation. Virtual firms, solo-entrepreneurs and location independent business people benefit tremendously from the business friendly and professional infrastructure of Belize. Incorporation of a Belize offshore company or International Business Corporation is therewith worth to look into and consider.
The quest for the most suitable location for incorporation stands lose from the place of personal residency of the entrepreneur and his other business activities. Due to its recognized position as an offshore financial center, Belize is an interesting jurisdiction for incorporation. Belize offshore companies and International Business Corporations can choose from several legal structures that all limit the liability of the shareholders of the company.
Limitations on the liability of shareholders is emphasized by the separation between the legal entity and its controlling persons. Only in exceptional circumstances, personal liability may be imposed. This process is called piercing the corporate veil and most be done by a court to receive legal standing and enforceability.
Incorporation in Belize provides for several advantages. Local company laws are based on the Common Law system which prevails legal reasoning, caselaw and jurisprudence. As such, the laws of offshore financial centers are strengthened by the courts in several jurisdictions. Corporate taxation and administrative requirements are favorable for international businesses and efforts to attract foreign direct investment in the country makes provision for public incentives.
Financial services for Belize offshore companies and International Business Corporations can be obtained everywhere. There are no limitations from Belize. Yet, Belize company law is only applicable to the company and its organization. The laws of Belize have no jurisdiction in other sovereign states. As such, market entry into other countries or trade unions may be restricted.
Belize offshore companies and International Business Corporations are initially incorporated for the period of one year. At the end of the term, the company must be renewed for another year. Failure to pay the annual fees results in the company being struck of the corporate registry. As such, an inactive company cannot provide a certificate of good standing.
Starting a business in Belize does not require a personal visit to the country. The application and incorporation process is straightforward. The beneficial owner must be verified and approved, the company name reserved, and the constitution written. This takes a couple of days and when the procedure is finalized, the company is established, and documents are forwarded to the beneficiary.
Offshore financial centers, Belize included, are mostly used for incorporation. Additional local services can strengthen the local presence and substance. This may be necessary to avoid challenges in the home country of the beneficial owner. Financial services complement the Belize offshore company or International Business Corporation and allow it to trade. The offshore financial industry is characterized by flexibility. As such, the location of the bank or money institution that provides the financial services should be tailored to the needs of the company and its beneficiary.
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