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#253989 - 01 February 19 11:01 pm - America/Chicago Has anyone else used a foreign entity (US Based LLC) to purchase property in Belize?
IslaCruiser Offline
Junior Member

Registered: 31 January 19
Posts: 2
Hi All,
I'm new here and had some questions regarding property ownership through a foreign US based LLC (not to be mistaken for an IBC).

Has anyone on these boards done this before?
I was told by a paralegal in Belize City:
"According to the Laws of Belize, every overseas company registered in Belize must submit annually to the Registrar of Companies an Annual List of Members and Summary"
The price of the service would be $240 US/year.
I just wanted to verify this.
I've been trying to find information on the from the government site but there isn't much information on this subject. Also trying to e-mail several of the addresses on the official government pages just gets a lot of bounce back / failed e-mail.

Key word searches on this site didn't turn up anything:
http://www.belizelaw.org/web/lawadmin/index2.html

and from what I've seen on this next document so far, they mainly mention IBCs needing to re-register:
https://www.cfatf-gafic.org/index.php/cf...-round-mer/file

Not sure where else to get this information. I don't want to just blindly pay $240 US a year without fully understanding the validity of the matter and what I'm really paying for.

If anyone could point me to some valid government resources that speak on this matter or better yet, someone who has done this before, I'd really appreciate it.

I'm curious to hear other peoples experiences.

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#253992 - 02 February 19 11:29 am - America/Chicago Re: Has anyone else used a foreign entity (US Based LLC) to purchase property in Belize? [Re: IslaCruiser]
jstewartpa Online   content

**

Registered: 17 May 12
Posts: 1026
Loc: Pennsylvania and Hopkins
First off, don't use a Belize paralegal for legal advise. Belize lawyers even struggle with what the law is.

Second, speak with the firm in Belize that set up your USA LLC to find out the requirements. Most LLC's outside of Belize, but allowed to do business in Belize require some kind of annual reporting to remain in good standing.
_________________________
Stupid should hurt!

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#253995 - 04 February 19 9:25 pm - America/Chicago Re: Has anyone else used a foreign entity (US Based LLC) to purchase property in Belize? [Re: IslaCruiser]
IslaCruiser Offline
Junior Member

Registered: 31 January 19
Posts: 2
Thanks jstewartpa,
You are right about the annual reporting, it does appear on the belizelaw.org site afterall:

http://www.belizelaw.org/web/lawadmin/PDF%20files/cap250.pdf

Page 171 - 175.

Thanks for confirming!
I just needed to see it with my own eyes in writing.

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