Redomiciliation of an Offshore Company to Belize

We offer you the opportunity to transfer your business from an unstable offshore jurisdiction to a safer and more independent Belize in the shortest possible time. The redomiciliation process is carried out remotely, with the possibility of choosing a standard or express option.

Redomiciliation allows you to move your corporate structure from one offshore haven to another. At the same time, your business activity will not be stopped or somehow affected.

The possibility of redomiciliation has become a trend in recent years. This is due to the loss of stability and the former level of confidentiality by British offshore jurisdictions. However, not even the level of privacy confuses many beneficial owners of companies in UK overseas territories, but the rapid pace at which laws and conditions for doing business in British offshores are changing. The declassification of information by the International Consortium of Investigative Journalists (ICIJ) also plays a significant role. This organization allegedly receives stolen information on its own, either from registration agents or auditors, while active assistance in these matters from the United States is already known.

As a result, the global deoffshorization process, the expected automatic exchange of tax information, FATCA, BEPS, and everything related to anti-offshore policy, make business persons think about how to protect their business and assets from external influence and pressure.

Belize for offshore company redomiciliation

Belize has been offering a well-established financial services sector for decades, which is not limited to company formation. This jurisdiction also offers complex products such as financial and banking licenses. In addition, Belize has a very large banking sector.

Belize banks are the world standard for offshore banking. This jurisdiction is often called offshore Switzerland, as it has very attractive conditions for the development of financial services.

Belize has a lot to offer to offshore companies. The most important points are:

•  No taxation of offshore companies: no tax on income, dividends, property, transfers, and no stamp duty.
• Regulatory system based on English Common Law: this allows the jurisdiction to operate in a similar way to other classic offshore havens.
• The country is politically, economically, and financially stable: this jurisdiction is a member of the UN, the British Commonwealth, and the Non-Aligned Movement.
• Affordable cost of establishing and maintaining companies.
• Lack of currency control.
•  High speed of company registration.
• Extensive labor market with highly qualified specialists.
• A wide range of financial and banking products.

Features of Belize offshore companies

Like all offshore companies, Belize offshore companies do not have the right to conduct their activities within the country. Otherwise, the companies will become Belize tax residents.

Cost of maintaining a company in Belize:

To carry out the full redomiciliation, you will need to decide on the form of company (IBC or LLC in Belize) and provide your Belize company with the following:

• One director and/or shareholder. This can be both a legal entity and an individual. It can also be the same person or company.
• No need to have a company secretary.
• A registered agent and office are required.
•  IBC’s annual fee is paid for the calendar year until December 31, and LLC’s annual fee is paid a year after the registration date.
• Company redomiciliation takes place remotely, without the need to visit the country.
• Meetings of shareholders/directors are mandatory. They can take place anywhere in the world (possibly remotely – by phone or via the Internet).
• Accounting is required.

Procedure for redomiciling a company to Belize

To change the country of registration of your offshore company, you need to ensure that your current offshore jurisdiction supports this option. You can request this information from the registered agent, who will also prepare the accompanying documents for you to leave the current offshore zone.

After you have put things in order in your old offshore jurisdiction (paid all the debts and received a Certificate of Good Standing), you can proceed to preparing an application for a change of jurisdiction. This application will include existing organizational documents and other necessary information in accordance with the law.

After submitting the application and supporting documentation, the new Belize offshore registrar will provide you with a company Certificate of Redomiciliation.

The next stage is the adaptation of corporate documentation and accounting in accordance with the laws of Belize.

What is an emergency redomiciliation to Belize?

In urgent cases, the company can go through the process of changing jurisdiction in express mode. For example, it is required in the face of civil unrest, revolution, invasion, or expropriation. Such a service will be a little more expensive, but the redomiciliation process will be as fast as possible.

In case of emergency redomiciliation, the company registrar in Belize has the right to accept company documents by fax or another communication method to complete the routine part and recognize the application as valid. All originals of the required documents must be subsequently submitted.

Steps for transferring an offshore company to Belize

1. You need to contact us by email and inform us of your desire to change your offshore jurisdiction to Belize.
2. Next, you need to pay for our assistance in changing jurisdiction for your company. You pay by a card or bank transaction, via WebMoney and Western Union systems, or using cryptocurrencies. The fee for redomiciling a company to Belize is USD 2000.
3. After you have paid the fee, the process of preparing documentation begins. To redomicile the company to Belize, its directors need to complete and apostille the Application for Change of Jurisdiction. This function can be delegated to our legal partners in Belize by empowering them through a Shareholders’ Resolution. All documents are completed in Belize.

The Application for Change of Jurisdiction of your company, along with a licensed Company Registrar in Belize, must contain:

•  company name
• date of incorporation
•  jurisdiction where the company was incorporated
• confirmation that the change of company registered jurisdiction was approved by the original jurisdiction
• confirmation that the change of company registered jurisdiction is carried out in good faith and will not be used to hide, delay or defraud shareholders, creditors, claimants, or other third parties
• name and address of the new registered agent in Belize
• any changes to the Memorandum and Articles of Association of the company, which are required to be made in documents in accordance with the laws of Belize (these changes come into force simultaneously with the completion of the application)
• notarized copies of documents with apostille
• adopted and signed Shareholders Resolution
•  Memorandum and Articles of Association
• Certificate of Good Standing from the offshore company register.

Once all the formalities in Belize have been completed, you will be able to liquidate the old company by signing the Certificate of Liquidation and the relevant Shareholders Resolution.

Terms of company redomiciliation to Belize

Under the standard company redomiciliation process, it will take from one to two weeks. The emergency process of changing jurisdiction takes from 4 hours to one day. But do not forget about the difference in time zones.

You can get more detailed advice regarding redomiciliation to Belize by contacting us by e-mail at info@offshore-pro.info. We will also help you select the most secure bank account based on our free foreign bank account consultation.

We also invite you to check our other services in Belize:

• A Belize LLC with a Serbia Offshore Bank Account Belize IBC Formation by New Rules in 2022: Package and Optional Services
• Start a Company in Panama and Register a Corporate Account in Belize
• Set Up an IBC or an LLC in Belize. Apostille and Professional Officers’ Services
• Belize: Fastest Offshore Bank Accounts on the Planet?