In addition to providing quality international financial services, ICS is also equipped to offer incorporation and maintenance services in regards to Belize Domestic Companies. In contrast to the International Business Company, a Domestic Company may own land in Belize and is allowed to conduct business with Belize residents and other Belize companies. The Domestic Company, however, is subject to taxes and exchange control regulations as its operations and business will be domestic based.
The legislation regulating the domestic company, the Companies Act Chapter 250 of the Laws of Belize Revised Edition 2000, is very sound and has been amended only once since its inception. With the Companies (Amendment) Act 2013, a domestic company may now be incorporated with a sole shareholder. Prior to the amendment, the domestic company required a minimum of 2 shareholders. The amendment was welcomed and well received as, in most cases in the past, companies would issue a solitary share to a second shareholder simply to satisfy the previous requirement. The Government recognized this shortfall and appreciated the need for the amendment to the law.
ICS personnel work closely with the Belize Companies and Corporate Affairs Registry to ensure proper and timely incorporation and filing services for domestic companies.