Belize

Basic law for formation	International Business Company Act 1990, amended in 2000
Type of company available for offshore business	IBC
Out-of-territory income taxed	No
Minimum number of Directors	1
Minimum number of shareholders	1
Shares unregistered to a name	ne
Standard share capital	50 000 USD
Registered agent / seat necessary	Yes / Yes
Local secretary necessary	No
Tax report obligatory	No
Audit obligatory	No
Local general meetings	No
Annual state tax	100 USD
Companies registered in 2008	12 297

Beside standard offshore centers Belize is used as ship registrar and offers a possibility to obtain citizenship. Ship registration is profitable for low costs of keep and administration as well as some other feats. The registrar of vessels in Belize registers over 1,500 vessels, up and rising. Belize citizenship is available in the Belize Economic Citizenship Program, aiming at attracting people to aid Belize economy.