Belize is one of Latin America’s preferred jurisdictions for incorporating an offshore company. It’s stable economy and pro-investment governmental policies make it an attractive location to do business in. A legal entity can be established in Belize by either a resident or a non-resident, without any local ownership restrictions and/or requirements, with the primary difference being that a non-resident owning a company must be approved by the Central Bank.
Taxes in Belize are incredibly low. There are no capital gains taxes, and property taxes are assessed at a low percentage of the unimproved value of the land. Income tax is charged at a flat rate of 25% for both individuals and companies, although the first $10,000 is exempt. Better yet, all pension (retirement) income is completely exempt from taxation. And dividends from a Belize International Business Corporation (IBC) (an offshore corporation) are also exempt from taxation.
To ensure your commercial operations in Belize are successful, it is crucial that you are aware of all legal and fiscal requirements. If you are looking for a local partner that can support your business in Belize and provide valuable accounting and tax advice, reach out to Biz Latin Hub.
For more information about our accounting and taxation services in Belize, please get in contact with our local team.
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