A Belize Local Company also known as a Chapter 250 company is an entity that can be set-up by either residents or non-residents of Belize. This structure is considered as a legal person in Belize; capable of carrying the same rights and duties granted to an individual in Belize and the owners of the company are not personally liable for the company’s wrong doing. The company may sue or be sued under its name.
Normally, this type of structure is used for operating a business in Belize, for owning real estate or for other local investments. The requirement to set-up the local company is simple since it may be set-up with one director and one shareholder with an authorised standard share capital of BZ$10,000.00 at $1.00 per share. One does have the option to set-up the company with more than the standard share capital; however, the Government fee is higher.
To form the company, a formal name check is conducted first to see if the name is available. If the name already exists or a similar name exists or if it is available, the Registry will notify us. The only documents that are then prepared and used to register the local company are Memorandum and Articles of Associations. The Memorandum of Association includes the objects of the company while the Articles of Association lay out the regulations for operating the company. Basic information on Directors and Shareholders are filed with the Registry and is available for public inspection. The company is required to hold a Statutory Meeting and Annual Meetings. The Statutory Meeting must be held within three months before commencing operation, and a Statutory Report should be filed with the Registrar. While Annual Meetings are normally held once a year, the company laws do allow for such meetings to be held not more than fifteen months after the previous annual general meeting. All local companies are subject to paying taxes in Belize and must file their Annual Returns on its due date to keep the company in good standing.
To set-up a local company, or if you have further questions, please feel free to contact us.
Trademarks are distinct signs that serve the following purposes: differentiate goods or services from one undertaker to another and the ability of being represented graphically. Some examples of trademarks are:
- Combination of the aforementioned
In Belize, trademarks are registered at the Belize Intellectual Property Office located in Belmopan. The normal time frame for registering a mark is 3 to 4 months if the application is processed successfully. The mark is registered for 10 years with a renewal options.
By registering, the owner of the mark achieves the following:
- Ensures exclusive right to use the mark to identify goods or services
- Earns money by allowing another to use the mark
- Gains protection enforced by the Supreme Court of Belize
- Promotes and protects the mark from unfair competitors
With this in mind, if you are thinking of protecting your creations and your assets, feel free to contact us and we will assist you with the registration of the trademark.