A Belize BC can be incorporated using any language, and must end with one of the following suffixes: Limited, Corporation, Incorporation, Société Anonyme, Sociedad Anónima or their abbreviations.

Similarly, the name of a Belize LLC must contain words to show the nature of its business structure such as “Limited Liability Company” (abbreviations “L.L.C.”, or “LLC” is acceptable).

A local address in Belize is the initial requirement to register a Belize offshore company. The address works for documentation only, it has no function of mailing.

Belize LLC and BC's biggest difference lies in their compliance and tax obligations.

In terms of taxation, a Belize LLC is exempted from local taxes on income generated outside of Belize, which include income tax, business tax, withholding tax, asset tax, gift tax, capital gains tax, distributions tax, inheritance tax, and estate duty on assets.

An LLC is also exempted from filing an annual return, submitting financial statements, preparing tax returns, and conducting annual general meetings. In addition, an LLC is not subject to the Economic Substance rule.

On the other hand, Belize BCs must pay business tax for all receipts of the company, regardless of where the receipts come from, and shall file annual tax returns, except BCs that fall into exemption cases. A Belize BC is also subject to Economic Substance requirements (except for non-included entities).

For Belize companies incorporated between January 1st and July 31st, the renewal must be made before the company anniversary.

The company formed in Belize from August 1st to December 31st must be renewed before July 31st of the following year.

Generally, the registration of a Belize company can be done in 6 steps as follows:

Step 1: Choose a business name and register it with Belize Companies & Corporate Affairs Registry

Step 2: Submit the required documents & get your incorporation certificate.

Step 3: Acquire a business license or permit, if your business activities fall under the scope of licensed activities as per the law.

Step 4: Register Income Tax and General Sales Tax with relevant departments.

Step 5: Register with the Belize Social Security Board. This is a must if you want to hire employees for your company.

Step 6: Register Intellectual Property (Optional). This is not mandatory but it is highly recommended for companies to do so, as it is a good way to protect your brand.

The steps above are only general guidelines. Depending on your chosen business structure, there might be specific requirements to fulfill. Therefore, it is recommended to seek professional guidance to open your company in Belize.

The time required to open a Belize company usually ranges from 2 business days to 2 weeks, depending on the complexity of the company structure and the availability of relevant documents.

In order to open a Belize company, you must fulfill the below requirements:

-Having a unique business name;

-Having at least one director, who can be a Belize resident or non-resident;

-Maintaining a registered office address in Belize;

-Engaging a registered agent in Belize;

-Submitting relevant documents to the Registrar; and

-Paying registration fees as required.