Opening a Business Banking Account in Belize
Having a business banking account in Belize can offer a number of advantages. Most people create offshore corporate accounts to take advantage of tax exemptions and high level of confidentiality.
An IBC (International Business Company) refers to a private company that is not subject to taxes in its home country, is exempt from onerous reporting requirements and has several features in place to protect the privacy of its owners. The Belize International Business Companies Act of 1990 (amended and extended in 2000) regulates IBCs in Belize.
An IBC is among the most favorable business legislations. It has been designed specifically for offshore investors and forms an ideal vehicle for conducting financial transactions across borders. Belizean laws enable quick and hassle-free incorporation.
The Process of Setting Up a Corporate Account in Belize
Creating a corporate account in Belize is easy. Major banks like Caye International Bank offer the option opening a business account through an online form or telephone. All you need to do is visit the bank’s official website, fill out the online form and submit it. In the form you will have to offer details like the name of the company, shareholders, directors, capital share, types of activities and document delivery address. You can also opt for additional services like certification of documents, nominee service and more. Hints are offered to further simplify the form filling process. It hardly takes a few minutes.
Once all the information has been filled in accurately, you just need to submit the form. Cutting edge SSL encryption technology is used to ensure security. The next step is making a payment. You can choose from a number of convenient payment options like wire transfer, debit card or credit card. The final step is forwarding scanned copied of necessary documents like bank reference letters and notarized copy of passport. This can be done through email or fax. Original documents need to be couriered.
Requirements for of Setting Up a Business Account in Belize
To open a corporate account in Belize you will have to submit following documents:
- Proof of address
- Original, signed and completed application form
- Utility bill copy
- 2 reference letters for each account member
- Certificate of shareholders
- Certificate of good standing and incorporation (notarized)
- Passport copy (notarized)
- General terms and conditions, and depository agreement
- Article and memorandum of association (notarized copy)
- Letter of undertaking
Advantages of a Corporate Account in Belize
Belize is one of the leading offshore tax shelters. It boasts of having the fastest IBC registry in the world. Here a new company can be incorporated within a few hours. The no-tax policy results in considerable savings and the lack of reporting requirements ensure complete confidentiality. Belize has a diversified and robust economy. The political and economic stability of the country ensure the security of funds. Belize is the only English speaking county in Central America. This further increases its appeal for native English speakers. It is well connected and easily accessible by air as well as sea.
Start taking advantage of a corporate account in Belize today by contacting CayeBank.bz for more information.