Brokers wondering how to get a Belize forex license will be happy to recognize that it’s an honestly straightforward process. In contrast to an area such as Cyprus, an IFSC directed brokerage is much quicker to obtain. Further advantages include tax optimization and a jurisdiction with an influential status for financial services administration.

Overview

Incorporation & receiving a license: 4 months

Minimum paid-up capital: 387,000 pounds

License charge: 23 000.00 pounds + VAT

License renewal administration fee: 23 000.00 pounds + VAT plus business renewal gov. fee of 850 pounds

BELIZE, an English-speaking nation in the heart of Central America, is a comparative newcomer in the field of global financial co-operation. Following gaining liberation from Britain in 1981, Belize has been attempting to expand its economy away from the farm sector. Belize, therefore, saw the international financial services sector as a window of possibility where it could seek to gain a competing advantage.

Belize has even executed licensing act that is especially focused on forex trading businesses. The stock of such services is governed by the International Financial Services Commission of Belize (IFSC).

To meet the expectations of modern investors around the globe, Belize now offers a full bundle of property vehicles. Due to such development of services, Belize is now a beautiful place for starting a company.

Supplementary Government Charges upon Receipt of the License:

Yearly government payment that should be paid directly to the IFSC 19500.00 pound.

1 Earlier the fee was 4,000.00 pound, starting from 1st of April 2016 the price obligatory to the IFSC is 19500.00 pound.

Notable features

General information

Company structure

  • 1 shareholder needed. Who can also be a legal person, no nationality limitation.
  • 1 resident director needed. Who can also be a legal person.

Privacy

  • Beneficial owners’ data – Published with the court decision
  • Shareholders’ data – Not part of the public record
  • Directors’ data – Not part of the public record

Taxation

0% – Tax on income coming outside the nation

Other advantages

  • Belize manages not to reveal its banking or monetary information. However, Belizean banks are FATCA submissive.
  • The meetings of the directors and the shareholders must not be accommodated in Belize; plus there is no necessity for an Annual General Meeting. All gatherings may be held outside of Belize, by telephone or other computerized means.
  • Accounting requirements

Belize licensed corporations face the next reporting requirements:

  • Quarterly business reports to the IFSC (not audited)
  • Yearly organization statement reports to the IFSC
  • Audit of the organization’s economic reports and further submission of the record results to the IFSC

Secretary – Voluntary,

Local office – Not Needed

Local employees – Not Needed

Company name

  • Language: Any
  • Letters: From the Roman alphabet
  • The organization name needs to end with such suffixes or their abbreviations: Limited, Corporation, Incorporated, Society Anonyme, Sociedad Anonima or Aktiengesellschaft.
  •   Titles Requiring Approval or a Licence: Bank, Insurance, Assurance, Re-Insurance, Trust, Trustee, Savings, Royal, Asset Management, Fund Management, Investment Fund, Building Society, Municipal, Chartered.

N.B.

  • Restricted contacts for company name: name of state, federal or local government.
  • Any name that indicates illicit activity or indicates royal or administration patronage is restricted.
  • The registrar may refuse any name which it deems objectionable or opposite to the public interest.
  • The organization name is limited to be identical or similar that of an existing corporation.
  • In the case when a foreign language is used for the business name the translation may be required by Registrar to guarantee conformity to above-listed restrictions.
Procedure

In order to get a license, the following measures will be carried out:

  • Gathering and development of all of the records, including those of due attention.
  • Belize company listing with paid-up capital of $500.000. This needs a particular company with over 100 000 shares. This is not an official IBC, hence higher gov. fees implement.
  • Preparation of anti-money laundering methods and custom tailored business plan.
  • Account opening in a local Bank for providing paid-up capital demands. This involves the development and submission of all the bank forms, corporate documents, and due diligence documents.
  • Ad-hoc support and preparation of minor documents needed during the process.
  • Support with Transferring of funds at a local Bank account in order to meet the capital requirement for the IFSC.
  • Submission of the letter from the local Bank to the IFSC that property provisions are fulfilled.
  • Receipt of license from the IFSC and delivery of reports to the Client.
  • Support with the opening of a corporate statement for further operational needs of the Company.
  • Finalizing bank account opening and delivery of reports to the Client.
Documents

In order to receive License, kindly present the following documents:

For a local bank:

(All beneficial owner, director, shareholder, authorised signatory)

  • A notarized proof of original passport
  • A copy of evidence of residential address
  • A notarized proof of a Letter of Reference form Bank

For local regulatory authority:

(All beneficial owner, director, shareholder, authorised signatory and secretary must provide)

  • CV
  • A notarized proof of a valid passport
  • A copy of proof of residential address
  • Professional letter/bank reference
  • A notarized copy of a University
  • Signed and notarized application forms

N.B.

  • If documents are not in English language or language of a particular country, then they need to be brought by a notarized translation.
  • Please guarantee that notarization is in the English language if not then kindly present with notarized English translation.
  • Additional papers may be asked by the regulatory authority or local Bank at any point to certify specific information