The UAE is a great place to start your company, but it can take up to 4 weeks for registration. If you’re looking for an easy and fast option, then the best option would be to form your company in one of the many jurisdictions that have ready-to-go companies like Belize or Mauritius. You’ll save time and money by doing so!
The cost of business formation starts at $750* (USD) with minimal administration fees if any. And you’ll get everything done in around 24 hours since all documents are completed online – no paperwork needed! It’s also very convenient as you don’t need to travel anywhere or sign papers; instead, everything will be sent over electronically. The process only takes 1 day for you to open your bank account and 2-3 days for your business license (depending on the speed of the registrar and the government).
Business Name Registration – How It Works
Belize also offers a name availability check so you can search if your company name is available before you have it registered. In most cases, this service is completely free because you’ll be directed to the Belize registrar where a small search fee is required. If your chosen company name is available, then there’s no need for further action and you can open a bank account right away! And if it’s not available, then another search will be done at a much minimal cost.
Belize also has free name availability searches for your business license, commercial certificate and company registration. This service is also free of charge so you can rest assured knowing that the name you chose isn’t already registered somewhere else in the country.
Registered Agent – Who Will Be The Sole Director?
When choosing a jurisdiction to form your company, it’s important to consider whether or not your business will need a local presence. This is required in most instances and it’s known as a ‘registered agent’. This is not to be confused with a commercial representative (which you can also choose to appoint); instead, registered agents are do not represent the business but they’re only appointed by the owner(s) for statutory reasons.
Commercial Representatives – What Is Their Role?
Having a representative in Belize helps to reduce paperwork when opening your business bank account. They also allow you to make certain transactions, such as processing payrolls and contract administration without interference from the Belize government. The commercial representative can sign checks on behalf of the shareholders or directors but they’re not allowed to have access to company funds. You can choose to appoint a commercial representative to act as your agent, or you can open a bank account using the name of another shareholder.
How Long Does It Take To Form Your Company?
Since this process requires little work from you, it can be completed in around 24 hours after all documents are finalized. And you can rest assured knowing that your business is service-ready without any additional fees or charges. If there’s anything else you need after registration, then please contact us because we’re always here to help!
Business Formation Costs – How Much Will It Cost?
The cost of business formation starts at $750 (USD) for all companies registered in Belize. This includes everything from company name registration, company formation and business license; you’ll also receive your commercial certificate after 1 week! And there are no other fees or charges added – it’s all included for this one-time fee.
Commercial Registry – Being The Sole Director
Most jurisdictions require that you’re the sole director of your company before you can start trading, but Belize allows sole directors to be appointed after the name is registered. There’s also no specific term in which you must appoint a director, so this process does not have any added fees or charges regardless of when you wish to do it.
Business Formation – Being The Main Shareholder
If you’re opening a Belize company with two shareholders, then you must appoint one person as the main shareholder. This role is only held by one person and this appointment cannot be transferred or sold. As long as the main shareholder submits their documents on time, your business formation will be completed within 24 hours.
Taxation Requirements – What Are The Annual Fees?
This is obviously a very important aspect to consider when starting your business. There are no specific requirements but you’ll need to ensure that all financial records are available for inspection during routine audits. You must also keep these records for 6 years after the end of the company’s fiscal year, so make sure they’re well-organized!
Belize does not charge any taxes on business profits but there will be some annual fees to pay; the current rates are as follows:
- A yearly license fee of $300 (USD)
- A registration fee of $250 (USD) for a Limited Liability Company and an Unlimited Liability company.
Don’t let these small fees and charges put you off – they’re certainly more attractive than the rates of many other countries!
Understanding The Process For Business Formation
Start your business with an office in Belize after completing the registration process. You’ll be able to open a bank account, sign contracts and gain access to multiple investment opportunities without any hassles or problems. And you can also make use of your company vehicle for personal and business expenses while still claiming some tax deductions.
There’s a lot to think about when forming a new business but the team here at Belize Offshore Company can help guide you through each step! We have a proven track record for helping businesses in every corner of the world, so why not let us help you too?
If you’d like to find out more about our Belize company formation services or any of the fees and charges, please don’t hesitate to contact us today. All consultations are completely free of charge so what have you got to lose? We look forward to welcoming your business into the global economy!