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Belize tightened the regulation of foreign companies


				24.08.2017
						

On July 21, 2017, the Belizean Parliament adopted a number of ambitious amendments to the International Business Companies Act. Thus, IBC is obliged to maintain registries of directors and beneficiaries. The bearer shares are completely prohibited.

Registries can be made in free form (electronic or paper), while the company must have evidence of the reliability of the data reflected in them. The place of keeping the registers is the legal address of the company in Belize.

The registers of directors and beneficiaries are not public, but at the request of the competent authorities it is necessary to provide them with information within 24 hours.

The above mentioned rules will be applied automatically when registering new IBC companies in Belize. And all existing companies are obliged to bring their documentation into full compliance with the new requirements until July 1, 2018.

A source: http://www.ifsc.gov.bz/wp-content/uploads/downloads/2017/08/Act-No.-36-of-2017-Iinternational-Business-Companies-Amendment-Act-2017.pdf

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