New amendments under the International Business Companies (Amendment) Act 2017 were adopted in Belize in 21 of July in order to implement registers of directors and beneficial owners as well as to abolish bearer share arrangements.
The highlights of the amendments are the below:
● Mandatory register of Directors to be kept at the registered office.
● Mandatory register of Beneficial owners to be kept at the registered office in Belize.
● Abolition of Bearer Share arrangements.
● Companies Dissolved after 5 years to be struck off (currently 3 years).
The rest of the changes are expected to just be “House Keeping” and a requirement for registered agents to have this information for availability to the regulatory (Director General of the IFSC) with-in 24 Hours.