Belize - Is It Possible to Have an Inactive / Dormant Company in Belize

[JohnD]

Hi guys,

I have an active Belize company, however I'm not going to need it next year. I would like to know if I can skip the renewal of the company for the 2020 and in case I need the company renew it later on - e.g. in 2021.

Also do you have any experience with this ? If the company is inactive will they strike it of the register after few years ? Are there any fines if the company is not renewed ?

 

[Paraskev]

Hi there I have the same question too . Anybody who knows ?

 

[JohnLocke]

Usually you can wait to renew the company some month and up to 6 months from my experience, before the company get stroke-off the problem is once you want to renew the company you will have to pay late fees and penaltize.

 

[speedster]

What is the renewal fee? It might be easiest to simply pay the renewal rather than catch up penalties a bit later

 

[JohnD]

for 2019 the renewal was 900 Eur + fees for Good Standing document. The problem is, that I don't know if I will ever need it again - there are several changes in the legislative making the Belize IBCs very unattractive

What are the possible issues, If I decide not to renew?

 

[Sols]

If you don't renew, your company might be struck off before you have a chance to renew for 2021. If so, you'd have to form an entirely new company.

 

[James Turner]

Unfortunately dormancy of companies in Belize is not an option and companies must either be renewed or struck off. Renewing the company to see if you need it in future is probably the easiest thing to do, but maybe if you are struggling to find a use for the company in your current circumstances, feel free to talk to us about how the company could potentially be used. We are happy to help.