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Knowledge base · BZ

Belize

A jurisdiction with a single Companies Act since 2022, which replaced the IBC regime and moved every company onto an online registry; beneficial-ownership registers are filed with the Registrar, and Belize has been off the EU tax list since 9 October 2026.

Belize replaced its offshore and domestic company laws with a single statute. The Belize Companies Act 2022 repealed the International Business Companies Act and the Companies Act, brought every company onto the Online Business Registry System, and required existing companies to re-register by 28 November 2023. Companies that did not were struck off administratively, with restoration available.

The 2023 amendments, made expressly to meet FATF Recommendation 24, require each company to file its register of beneficial owners with the Registrar and require nominee directors and shareholders to declare their nominators. Bearer shares are prohibited. Limited liability companies have their own beneficial-ownership filing and an annual attestation to the Financial Services Commission.

Since 1 January 2020 former IBCs no longer have an automatic tax exemption: foreign-source receipts fall within business tax unless statutory conditions are met. Belize left the EU’s list of non-cooperative jurisdictions on 9 October 2026, after the Global Forum upgraded its rating. Belize also provides international foundations under the International Foundations Act 2010 and trusts under the Trusts Act, Cap. 202.

General information, not advice. Facts are stated as of the date on each page. Law, lists and rates change; the professional who acts for the entity confirms what applies to it. Chrysos performs no regulated act and gives no legal or tax advice.

Facts as of 30 October 2026

Beneficial ownership

Register
Each company files its register of beneficial owners with the Registrar, showing the number and category of shares each owns, under the Belize Companies Act 2022 as amended in 2023 to meet FATF Recommendation 24. The information is held in the Online Business Registry System (OBRS) of the Belize Companies and Corporate Affairs Registry, under the Financial Services Commission (FSC). Only licensed registered agents can use the system for companies with foreign shareholders or directors.
Limited liability companies
An LLC files an annual attestation with the FSC naming everyone who owns 5% or more, anyone who controls it, and all members, managers, directors and officers.
Deadlines
An LLC updates its beneficial-ownership filing within 30 days of a change. A registered agent produces a company's records to the FSC, and an LLC its beneficial-ownership information to the Registrar, within 7 days of a request.
Who can see it
Not public. Registered agents and competent authorities — the FSC, the Financial Intelligence Unit and law enforcement — have access. Public inspection of an LLC is limited to its name, its registered agent's name and address, and its registration date.
Nominees and bearer shares
Nominee directors and shareholders file a declaration with the Registrar identifying the nominator, and again when a nomination ends; a breach is an offence with an FSC administrative fine. Bearer shares are prohibited.
Penalties
Administrative fines from the FSC, and strike-off. An LLC that wilfully fails to file its annual attestation faces up to BZ$100,000.

Lists and exchange of information

EU tax list
Not listed. Removed from Annex II at the revision of 9 October 2026, after the Global Forum's in-depth review raised its rating. In Annex I from October 2023 and Annex II from February 2024.
FATF and CFATF
A member of the Caribbean Financial Action Task Force (CFATF), the FATF-style regional body.
Exchange of information
The Global Forum rated Belize 'Partially Compliant' for exchange of information on request in July 2023. Its in-depth review, published on 29 April 2026, raised the rating to 'Largely Compliant'.
2 forms

Legal entities

Company

Company under the Belize Companies Act

Law: Belize Companies Act 2022 (No. 11 of 2022), amended by Act No. 27 of 2023

The single company law of Belize, fully in force since 28 November 2022. It repealed the International Business Companies Act and the Companies Act; new IBCs can no longer be formed, and existing companies had until 28 November 2023 to re-register.

Forms
Limited by shares; limited by guarantee, with or without shares; unlimited, with or without shares; segregated portfolio companies and private trust companies. Foreign companies register under Part XV.
Members and officers
No statutory limit on the number of shareholders. A registered office in Belize and a licensed registered agent are required wherever a shareholder or director is neither Belizean nor from CARICOM. Alternate, nominee and reserve directors consent in writing and carry the same duties as other directors.
Records
Accounting records and underlying documents are kept for five years. Records are kept accurate and up to date, and the company gives the Registrar accurate information.
Economic substance
The Economic Substance Act 2019 applies to Belize-tax-resident entities carrying on relevant activities — core income-generating activities, staff, expenditure and premises in Belize, with a lighter test for pure equity holding.
Tax
Since 1 January 2020 the automatic IBC exemptions have ended, and foreign-source receipts fall within business tax, a tax on gross receipts with rates by activity. Exemption is conditional under section 106 of the Income and Business Tax Act, including tax residence elsewhere and no permanent establishment in Belize.

How owners use it

  • Holding or trading company for Central American and Caribbean operations
  • Holding company under a Belize trust or foundation

What comes with it

  • A company that did not re-register by 28 November 2023 was struck off administratively; restoration is possible under section 222
  • Banks ask for the OBRS e-certificate and the new nine-digit company number as evidence of re-registration
  • The former IBC tax position no longer applies; banks ask for a tax-residence certificate or evidence of the business-tax exemption, with the economic-substance position and accounts
  • Nominee declarations are on file with the Registrar wherever a nominee acts
LLC · LLC

Limited liability company

Law: Limited Liability Companies Act, Cap. 270:01, amended by Acts No. 29 and No. 48 of 2023

An entity whose members hold membership interests rather than shares. Since the 2023 amendments it has its own beneficial-ownership filing, an annual attestation and limited public inspection.

Public register shows
Only the LLC's name, its registered agent's name and address, and its registration date (s.97C).
Beneficial ownership
Filed with the Registrar and kept in the OBRS, updated within 30 days of a change and produced within 7 days of a Registrar request (s.30A).
Annual attestation
To the FSC, naming everyone who owns 5% or more, anyone with control, and all members, managers, directors and officers (s.18A). Wilful failure carries up to BZ$100,000.

How owners use it

  • Asset-holding and family vehicle with an operating-agreement structure
  • Vehicle that needs US-style governance

What comes with it

  • Banks ask for the articles of organisation, the operating agreement, the latest attestation and the identities of managers and members

Sources

Facts as of 30 October 2026

All jurisdictions