ARTICLE · 28 NOVEMBER 2019

Economic Substance Legislation

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Belize, like other Caribbean jurisdictions, has enacted a series of laws seeking to comply with international Economic Substance requirements.

BelizeFinance and Banking

Background

Belize, like other Caribbean jurisdictions, has enacted a series of laws seeking to comply with international Economic Substance requirements. Please note that the issuance of the final Guidelines on the matter of Economic Substance in Belize is expected sometime before the end of this year. Therefore, this document may not be considered as the final interpretation as it may still vary in certain aspects.

What is the effect?

Accordingly, International Business Companies (IBC) engaged on what is defined as "relevant activities" will need to meet adequate economic substance in Belize. Take note that an IBC carrying on any relevant activity is thus classified as an Included Entity.

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