Type of Business Ownership
The Laws of Belize allows for various categories of business ownership. The relevant legislation can be found at www.belizelaw.org.
- Private company- Chapter 250, Companies Act
- Joint venture and cooperative- Chapter 313, Co-operative Societies Act
- Partnership- Chapter 258, Limited Liability Partnership Act
- Sole Proprietor- Chapter 247, Business Names Act
- International Business Company- Chapter 270, International Business Companies Act
- Trust Fund- Chapter 200, Trust Corporations Act
- Public Investment Company-Chapter 250, Companies Act
According to the Business Names Act, Chapter 247 of the Laws of Belize, every firm or individual having a place of business in Belize should register the business name. To start a business, an applicant would need to register at the Registrar General‘s Companies and Corporate Affairs Registry Office, in Belmopan City. Businesses can be registered as a sole proprietorship, partnership, and limited liability or as a corporation. Application forms will need to be filled out by the applicant.
- Sole proprietorship- Form I
- Partnership-Form II
- Change of registered business name/owners- Form 6
- Ceasing a business- Form 9
In the event of change of business name/owners or when ceasing a business, the applicant will need to present an original certificate of registration or in the event that the certificate is lost, a Statutory Declaration from a Notary Public, and identification card of the individual’s (old & new owners in the case of change of owners), and signatures from each (new and old business owners) can be submitted.