Limited Liability PartnershipBelize
What it takes to form, own and run a limited liability partnership in Belize, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
Quote
Each partner has limited personal liability for debts or claims of the partnership.
Quote
Any number of persons may be partners in a limited liability partnership.
The registry’s and the law’s own pages do not mention it.
The registry’s and the law’s own pages do not mention it.
Form it
Who registers it
- Registry
- Formed without visiting
- Yes
- Formed online
- Yes
What it takes to form
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the Limited Liability Partnership.
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 2
Quote
Any number of persons may be partners in a limited liability partnership.
- A local company secretary
- Does not apply
- A local registered agent
- Not stated
The registry’s and the law’s own pages do not mention it.
Each year, at the registry
- Annual registry fee
- Not stated
The registry’s and the law’s own pages do not mention it.
- Accounts on the public record
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit for a small company
- Not required
Quote
it shall not be necessary for a limited liability partnership to appoint an auditor or have its accounts audited.
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
- Annual declaration of the partners
- 28 February
With Belize Companies and Corporate Affairs Registry (BCCAR)
LLP Act Cap. 258 s.19: before the end of February in every year following the year of registration, stating the partners on 1 January. The rule uses 28 February so a leap year is not missed.
What is public
Not in our records What the register shows the public is not in our records for the Limited Liability Partnership.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Varies+2 regimes
Belize Tax Service guide: partnerships are dealt with under Business Tax as single entities, assessed on the income of the entire business; Business Tax is charged on total revenues or receipts at rates that depend on the kind of receipts. The guide does not name the LLP separately.
Quote
Business Tax is a tax on TOTAL REVENUES or RECEIPTS
Special regimes that may apply
- Commercial Free Zone (Free Zones Act, Chapter 278) free zone · 100% exempt
A CFZ business — a business licensed to operate within a commercial free zone — and a CFZ developer Free Zones Act (Chapter 278), section 27 - Designated Processing Area (Designated Processing Areas Act, Chapter 280) free zone
An approved company holding DPA status granted by the Designated Processing Areas Council, operating within a designated processing area Designated Processing Areas Act (Chapter 280), section 18, read with the Income and Business Tax Act (Chapter 55), section 21, first paragraph, paragraph (c)
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in Belize
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Dissolution is a registry service listed on the LLP page; the route is not described.
- Statutory fee
- Not in our records
Every business in Belize
GST
- The tax
- General Sales Tax (GST)
Quote
Administering income tax, business tax, and general sales tax (GST) in accordance with the relevant legislation.
- Standard rate
- Not in our records
- Other rates
- Not stated
- Registration threshold
- Not in our records
- A foreign company
- See the note
The Belize Tax Service Department's own site is a script-drawn application that serves no readable text, so no non-resident rule could be read.
- Tax authority
- Belize Tax Service Department (BTS), Ministry of Finance
Payment and banking services
None of the services whose lists we hold names Belize. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Limited liability partnershipDerived our grouping, the same words in every country
- Name in law
- Limited Liability Partnership
- ISO 20275 code
- D1SLSecondary GLEIF, Entity Legal Forms code list