Companies in Belize
Establishing Your Presence in Belize: Key Regulatory Steps
Company Bank Account Establishment
Identification
Identification for all Beneficial Owners and Authorized Signatories: This ensures compliance and clarity on who controls the company's financial activities.
Banker's References
Each authorized signatory is required to submit two banker's references from established financial institutions, demonstrating their financial standing.
Company Documents
Certified copies of your company's Certificate of Incorporation, Memorandum of Association, and Articles of Association are essential to verify the company's legal existence and structure.
Social Security Registration
Employer Responsibilities
Defining "Employer" and "Employment"
Employment encompasses any trade, business, profession, office, or vocation. An employer is defined as any person or their representative who employs an individual for at least eight hours during a contribution week (Sunday to Saturday). This includes:
- Any incorporated or unincorporated person or entity.
- Any managing agent acting on behalf of an employer.
- The personal representative of a deceased employer.
- Owner of a vehicle or vessel under a contract of bailment.
- Club manager or committee members for recreational payments.
Employer Registration Requirements
The Social Security Act mandates that every person employing one or more individuals must register as an employer. Registration must be submitted within seven days of hiring the first employee. Each application pertains to a single establishment, and the primary activity must be indicated.
Registration Numbers
Every registered employer receives a unique registration number for each specified establishment, used in all correspondence with the Social Security Board. Employers may have multiple Business Numbers if operating multiple distinct businesses.
Employee Information & Contributions
Within fourteen days, a registered employer must submit a complete list of all employees. Only individuals with valid Social Security registration cards are eligible. Contributions are calculated weekly (Monday to Sunday).
Forms & Documents
Relevant forms can be downloaded from the official Social Security website: https://www.socialsecurity.org.bz/employer/
Immigration
Entry, Residence, and Citizenship
Travel to Belize (Visitor's Visa)
Travelers must possess a valid passport and an onward plane ticket to receive a 30-day visitor's visa upon arrival. Visa extensions are available at any district Immigration Office before the initial visa expires.
Visa Exempt Countries
Citizens of American Samoa, Andorra, Argentina, Australia, Bolivia, Botswana, Brazil, British Commonwealth (excluding India), British Territories, Canada, CARICOM member states, Chile, Costa Rica, Guatemala, Iceland, Mexico, Norway, South Africa, Switzerland, Tunisia, Uruguay, the U.S.A., and EU member states do not require a visa.
Other Countries
For visa requirements for all other countries, contact the nearest Belize Embassy, Mission, or Consulate. If no Belizean diplomatic mission exists, visas can often be obtained through the nearest British Embassy or High Commission.
Permanent Residence
Eligibility: Reside legally for at least one year, with absences ≤14 days. Applicants must demonstrate financial stability and have no serious criminal convictions. Further information: official Immigration Website.
Nationality/Citizenship
Applicants must be permanent residents and have resided in Belize for at least five years, with absences ≤30 consecutive days. Minor children, Belizean descent individuals, and spouses of Belizeans have special provisions. Applications downloadable at https://immigration.gov.bz/
Establishing Your Business in Belize
A Step-by-Step Guide for Investors
Navigating the process of setting up your business in Belize is designed to be clear and efficient. This guide outlines the key chronological steps, from initial registration to ongoing compliance, ensuring a smooth entry into the Belizean market.
1. Company Incorporation (or Business Registration for Sole Proprietorships/Partnerships)
The foundational step for any business is its legal establishment.
Company Incorporation: A company is a legal entity separate from its owners, allowing shareholders to create an independent organization with legal rights typically reserved for individuals. It can sue and be sued, own property, hire employees, and loan or borrow money, empowering it to pursue specific objectives.
Documents Needed for Companies with Share Capital:
Memorandum of Association: Outlines the company's name, objectives, and share capital.
Articles of Association: Defines internal regulations for managing the company.
Valid Identification: Social Security card (Belizean) or valid Belizean passport (foreign).
Central Bank Letter: Required for foreign shareholders confirming approval.
Proof of Address: For foreign shareholders, a rental agreement or utility bill suffices.
Documents Needed for Companies Limited by Guarantee, Non-Profit Associations, and Churches:
Memorandum of Association
Articles of Association
Letter to the Attorney General Requesting Permission to Omit "Limited": A key step for these types of entities.
Important Note: All necessary legal documents can be obtained from a local Attorney-at-Law.
Cost: Registration fees vary, including the Letter to the Attorney General (if applicable). Contact the registry office for a precise breakdown.