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Company Formation Guide
Belize Company Formation
Belize Company Formation for general businesses as well as blockchain businesses with relevant consultations. Go through the guide to establishing a Belize company and get in touch with Mirr Asia for expert advice.
Notice · 01
Belize IFSC Virtual Asset Restrictions
Important Notice
As announced by the IFSC of Belize on May 25, 2023, the following virtual asset services will be restricted until December 31, 2025. The IFSC will not issue any virtual asset-related licenses until December 31, 2025.
Virtual asset services are defined as performing the following activities in or on behalf of another person in Belize:
- Negotiating, mediating, or exchanging virtual assets for legal tender of Belize or another country
- Negotiating, mediating, or exchanging between one or more virtual assets
- Transferring virtual assets
- Lending, depositing, keeping, safekeeping, managing, or administering any virtual asset or means by which virtual asset control is enabled
- Issuing virtual assets, offering them, selling them, or participating in or providing financial services related to them
Virtual assets are defined as follows:
This includes cryptocurrencies, stablecoins, non-fungible tokens (NFTs) and in-game currencies (that can be cashed out or used outside of the game), but excludes digital representations of fiat currencies. Virtual assets are a digital representation of value that can be traded, transferred, settled or used for investment purposes.
Guide · 02
Guide to establishing a Belize company (LLC)
Company Establishment Fee
USD 2,750 (first-year service management fee)
Minimum Capital
No minimum requirement (usually set at USD 10,000)
Timeline
7–14 business days
Included in the fee:
- Company establishment government registration fee
- Company establishment clause preparation and registration
- Member operating agreement preparation
- Acting as a company establishment promoter
- Appointment of executives and preparation of related documents
- Preparation of a list of members/executives/ultimate owners
- Address of registered office 1-year service fee
- Registered agent 1-year service fee
Annual renewal maintenance fee: USD 1,750 (paid annually from the second year after establishment)
Included in the price:
- Annual renewal of government registration costs
- Storage of minutes and list of executives
- One-year service fee for the address of the registered business site
- One-year service fee for the registered agent
Requirements · 03
Required Documents
1. Passport — Copy of the shareholder/director's passport + Original certification (within three months of the issuance date)
- Korean passport: A copy of an English passport (issued by the district office)
- Passport of another country: Certified True Copy or Notarial Certificate
View sample Korean passport | View sample passport of another country
2. Proof of address — Two recent (within three months) English-language documents proving the shareholder/director's address (addresses must be the same)
- Living in Korea: English translation of resident registration (residential center) + scan of the front and back of the driver's license
- Living in another country: Utility bill + bank statement (or equivalent official document)
View sample Korean address proof | View sample address proof from another country
3. Expert recommendation letter
Who can sign a recommendation letter?
Confirmation of customer relationship for more than two years from an expert (accountant/lawyer, etc.)
View sample recommendation letter
4. Bank statements — Last three months (in English or with English translations) + bank seal
5. English resume (CV/RESUME)
6. Application for incorporation
Resource · 04