The passage of the Belize Companies Act, 2022 (the “Act”) was announced by the Financial Services Commission on 5 August 2022 to repeal the International Business Companies Act, Cap. 270 and the Companies Act, Cap. 250 to simplify and facilitate the management of the affairs of Belize companies.
The Belize Companies and Corporate Affairs Registry ("BCCAR”) will implement the Act and launch an Online Business Registry System ("OBRS”) for digital transformation in December 2022.
After the OBRS is launched, all companies currently registered under the International Business Companies Act, Cap. 270 and the Companies Act, Cap. 250 will be required to re-register under the Act and obtain an e-certificate with a new unique 9-digit company number.
Only the local licensed registered agent will allow to assess the OBRS, the applications for incorporating Belize companies with foreign shareholder(s) or director(s) are still required to be submitted by the local registered agent.
For further details about the re-registration process, we will keep clients informed upon receiving any updates from the BCCAR.
