Belize is a little piece of heaven located on the Eastern coast of Central America. By , over 15, international business companies registered in Belize to conduct their operations from there. Belize is very efficient and fast with registration processing. Under normal circumstances, it only takes them a few days to register a company. The country is flexible by not demanding any residential status on behalf of the company owner. Also, they recognize a company which lists only one director or shareholder, and there is no requirement to appoint a local director.
In addition, the names of the directors are not entered into the registry and their identities are not revealed in public documents. Last but not the least, the country exempts the offshore companies from taxes. Many Forex companies used the convenient conditions to their benefit and relocated their companies to Belize. To ensure smooth business operations, the government appointed a body to regulate the international companies which headquartered in the country.
It is based in Belize, Central America, and serves as an onshore and offshore regulator. IFSC dates back to when it was established and given legal power to license, supervise, and monitor all regulated companies and market participants. The IFSC was formed right after the new Belize government was established with the goal of developing offshore services. The adoption of the International Financial Securities Commission Act set the basis for promotion and protection of Belize as an international center for financial services.
Belize is also devoted to eradicating money laundering as a member of the Caribbean Financial Action Task Force. Many international companies use the privilege to run their business offshore from Belize thanks to the IFSC license, which is easier to obtain than for example an FCA license in the UK.
The IFCS is an independent government agency, which means that it works on its own but under the rules set out by the government. Entities and businesses which apply for the IFSC license have to meet certain criteria like the minimum capital requirements, qualified employees, etc.
Belize has become a popular destination for many Forex companies and other financial services companies because it is easy to establish a company in Belize without having to be a Belize resident. Belize Forex broker companies do not have to pay profit taxes in Belize for earnings made outside the country. These companies mainly have international customers anyway, and therefore, their expenses are reduced to the minimum. Belize laws also work in favor of many broker companies making it hard for government bodies to get to the core of who the owner or shareholders of companies are.
Therefore, it is no surprise that many Forex brokers use the simple administration procedure, the tax haven, and secrecy laws to establish a business. The conditions for international companies are more than convenient. We see that IFSC still works on similar principles like EU regulatory bodies and that they make an effort to protect the market from any kinds of malversation. What is more important than laws is the enforcement and implementation of laws. Protection of consumers is not always fully enforced, especially not with offshore brokers who work under more liberal conditions.
Nevertheless, many worldwide popular brokers have additionally registered with IFSC even though they are regulated by other regulatory bodies. It is always trickier to sign with an internationally licensed broker than with brokers with a clear-cut license. What traders might be concerned about are the flexible rules under which companies can be established and operated.
Still, if we look at the IFSC requirements imposed on companies after registration, it indicates that brokers are closely monitored not leaving much space for any kind of misconduct.
If you are looking for a Belize Forex broker, please make sure to conduct a thorough research. Also, your broker of choice should meet other criteria related to the trading services and tools. The best Forex brokers offer outstanding service packages which provide a flawless environment for trading. IFSC and Belize To ensure smooth business operations, the government appointed a body to regulate the international companies which headquartered in the country.More...