General Overview. Not only is Belize one of the most popular offshore jurisdictions for offshore company formation purposes, it also has a favourable and precise legislation for offshore trust creation, obtaining online gambling licenses, offshore banking, offshore investment fund management, offshore captive insurance companies and ship registration procedures. Belize is one of the most selected offshore countries by international private and corporate entities for offshore business purposes.

Banking Sector. There are no exchange controls in Belize, which is a favourable environment for   banking business. Offshore banks in Belize which hold a full license (Class “A” license - unrestricted) are not restricted in offering their high-quality banking services to international clients. Those banks that hold a Class “B” or restricted license may carry only those activities which are precisely outlined in their license. Banking in Belize fully adheres to international legislation and standards of anti-money laundering and know your customer procedures.

Online Gambling. It is possible to obtain an online gambling license in Belize. Every entity may hold only one license at one time. It is necessary to demonstrate that a license applicant has sufficient financial means for obtaining it and for conducting a specified business activity.

Ship Registry. Belize offers efficient legislation for vessels registration in the jurisdiction. It is necessary to apply for a registration certificate through an authorized agent in Belize. Generally, a provisional certificate for six months is issued for a period of submitting all the necessary documentation and completing registration procedures, after what a permanent registration for five years is provided. Dual ship registration may be available.

Commercial Free Zone. Belize has introduced its Commercial Free Zone, in order to attract international investors and entrepreneurs to conduct their manufacturing, trading and distribution activities from the jurisdictions. Goods which arrive and leave this zone are exempt from import, export and stamp duties. Only a social fee of 1,5% is applied on all imported goods with exception of fuel, which is levied 10%.