The Belize Mutual Funds Act 2000 sets forth the regulatory environment for operation of mutual funds in Belize. All administrators of mutual funds who carry out their activities in or from within the Belize must be licensed by the Belize International Financial Services Commission. The Belize Mutual Funds Act 2000 prescribes several general conditions that must be met by any such licensee.

Key Features

The IFSC must be satisfied that the applicant “is a fit and proper person” to be engaged in the proposed fund administration business. The applicant is also required to have adequate knowledge, expertise, resources and facilities necessary for the nature and scope of the business proposed.

Legal Requirements

Requirements

Description

General

  • Corporate  vehicle permitted

Belize Company

  • Application fee
EUR 3,500
  • Annual license fee

EUR 3,500

  • Local physical office required

Yes

Share capital or equivalent

·         Minimum paid up capital

None

Directors

  • Minimum number

2

  • Corporate directorship allowed

Yes

  • Local director required

No

Shareholders

  • Minimum number

2

  • Corporate shareholders allowed

Yes

  • Local  shareholders required

No

Service Providers Required

  • Company Secretary
No

 Tax Treatment

  • Minimum or zero tax on capital gains, incomes, profits and dividends that accrue to the Fund.
  • Minimum or zero tax on fees, commissions and profits earned.

Duration to Set Up

Around 3 months

Distinctive Benefits of Licence

  • Minimal or no-tax status on income and profits, capital gains and dividends.
  • The commissions, fees and profits of fund managers, administrators and advisors are also either liable to minimal taxation, or exempted from tax.
  • There are no exchange controls or restrictions on financial transfers that apply.

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  • End to end comprehensive service
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