Limited Duration Company
A Limited Duration Company is a company which is registered under the International Business Companies Act with a maximum life span of fifty years. The name includes at its end the words “Limited Duration Company” or the abbreviation “LDC”.
Features of an Belize LDC Company
| Anonimity |
No information relative to the company will be disclosed by the Companies Registry except that it exists, the location of its registered office and the identity of the resident agent. No information relative to the company will be disclosed by the Registered Agent without the written instruction of the company owner(s). |
| Paid Up Capital Requirement |
No minimum paid up capital is required and capital can be in any currency. Annual renewal fee charged is dependent on the capital of the company |
| Accounting Requirement | No requirement for any filing of Financial Statement of Accounts or records required however if these are prepared they can be kept anywhere in the world the director(s) may determine |
| Taxation | Exemption from any form of taxation including income tax etc |
| Time to Form | Incorporation within 24 hours |
| Minimum Members | A minimum of 1 member is required details of members(s) are not available on the public file |
| Minimum Director | No Director is required; Exemption from of having Board of Director(s) |
| Exchange Controls | There are none |
| Meetings | Governed by internal operating agreement |
| Fillings | Limited filing needs to be done at the IBC Registry |
| Company Life | Has a Duration of 50 years or less |
An IBC company already formed under the International Business Companies Act may at anytime apply for registration as a LDC Company on the condition that it alters its Memorandum and Articles of Association to limit the duration of its life for any period not exceeding fifty years. The company may do this by special resolution.
The Articles of the Limited Duration Company may:
- Prohibit the transfer of any share of a member of the company absolutely or may provide that the transfer of any share requires the unanimous resolution of all the members.
- Provide that a person ceases to be a member of the company upon the happening of any one or more events specified in the articles.
- Provide that the affairs of the company be managed by its members or by some person designated as manager with such rights powers and duties as may be specified in the Articles of Association and in such case the company shall be exempted from the requirement to have a Board of Directors under section 47 of the Act
- Provide for the authorized share capital of the company to be divided into various classes of shares carrying either limited or unlimited liability.
For further information please fill in the Offshore Company Request Form.