US Company Formation from Belize (2026): Central Bank Permission, Business Tax on Gross Receipts, US LLC or C-Corp and No US Treaty

Belize is known abroad as an offshore centre, but for people who live there it is a small, dollar-pegged economy with strict exchange control. That control is the single most important fact for a Belizean resident who wants a US company. Under the Exchange Control Regulations Act, 2003, a resident needs the specific permission of the Central Bank of Belize to make an investment abroad, and separate approval to run a bank account outside Belize. A US LLC with its own US bank account involves both.

Plenty of Belizeans have a good reason to want one. Tour operators on Ambergris Caye and in San Ignacio take bookings from US travellers. Exporters sell seafood, citrus and sugar products to US buyers. Developers, designers and call-centre businesses in Belize City serve US clients. And the Belizean diaspora in Los Angeles, Chicago, New York and Houston runs businesses with relatives at home. This guide covers the permissions first, then tax in Belize and the USA, and then the choice between US LLC formation and US C-Corp formation.

In short: Belizeans and Belize residents can own 100% of a US LLC or C-Corporation, formed remotely. Central Bank of Belize permission is required for outward investment by residents and for operating a bank account abroad. Belize charges business tax on gross receipts, at rates that depend on the activity, and income tax at 25% on employment income above a threshold. There is no US–Belize income tax treaty, so US corporate dividends carry 30% withholding. A single-member US LLC with no US operations usually pays no US income tax. With UCB, a Wyoming LLC with EIN is $249 and a Delaware corporation with EIN is $358, all-in.

Step one: Central Bank permission

The Belize dollar is pegged at BZ$2 to US$1. To protect the peg, the Exchange Control Regulations Act requires residents to surrender foreign currency they receive to an authorised dealer (a licensed Belizean bank), unless they have permission to keep it. Three rules apply to a US company:

1. Outward investment needs specific permission. Putting money into a US company you own is an overseas investment. Apply to the Central Bank's Exchange Control Unit before you fund it. The Central Bank says it acknowledges applications by email within one business day.
2. A bank account abroad needs approval. Running an account with a foreign financial institution counts as retaining foreign currency abroad. Individuals and Belizean companies must apply in writing for approval. A US LLC's own bank account is held by the LLC, not by you, but if you fund it from Belize, or earn money through it for work you do in Belize, the Central Bank expects to see it. Ask the Exchange Control Unit how it applies to your case.
3. Foreign currency accounts in Belize are allowed for residents, subject to conditions, with each withdrawal or transfer documented on form XCH1.

In November 2025, the Central Bank let authorised dealers grant permission themselves for eight more types of transaction, for purchases of foreign currency up to BZ$100,000. That eased everyday payments. It did not remove the permission requirement for investment abroad.

In practice: tell your Belizean bank and the Exchange Control Unit what you are doing before you form and fund the company, with a short description of the business, the expected amounts and where the revenue will be received. A US company with approval is a clean, provable structure. One without approval exposes you to penalties under the Act and makes your Belizean bank nervous about every incoming transfer.

How Belize taxes the people and businesses involved

Belize's Income and Business Tax Act has two parts:

• Business tax is charged on gross receipts, not on profit, at rates that depend on the type of activity. Professional services, trades, rentals, tourism, and real estate commissions each have their own rate. Self-employed people and companies pay business tax rather than income tax on their trading income.
• Income tax at 25% applies mainly to employment income above an exempt threshold, which was raised from 1 January 2025 under the 2024 amendment.
• Interest on time deposits in Belize stopped being taxed under the 2024 amendment.

The tax is largely on income derived from Belize. For an owner of a US company:

• Work you do in Belize, for anyone, is Belizean income. If a US LLC invoices it, the Belize Tax Service still expects business tax on the gross receipts from that work, through your own registration or a Belizean company.
• Income earned in the USA by others, such as rent from a US property, is generally foreign income.
• Dividends from a US corporation are withheld at 30% in the USA.

Because business tax is on gross receipts, the order of the invoices matters. If your Belizean business invoices your US LLC for your work, it pays business tax on what it bills. If the LLC keeps a margin, that margin is outside Belize's business tax only if it is genuinely earned outside Belize, and usually it is not, because you do the work at home. Keep the arrangement simple and declare the full value of the work done in Belize.

The end of the IBC tax exemption

Until 2019, Belize international business companies (IBCs) were exempt from Belizean tax. Under pressure from the EU and the OECD, Belize abolished that regime. IBCs now pay tax on income from Belize like any other company. Some people still ask whether a Belize IBC should own the US company. For a resident of Belize running a real business, that layer adds cost, reporting and bank questions without a tax benefit.

No US–Belize treaty

There is no income tax treaty between the USA and Belize. US domestic withholding applies:

• 30% on dividends from a US corporation.
• 30% on royalties.
• 30% on related-party interest.

US LLC formation from Belize

US tax position

The IRS disregards a single-member LLC with a non-resident owner and treats its income as the owner's. Income is taxed in the USA only if it is connected with a US trade or business carried on through people or premises in the USA (see effectively connected income explained). An owner working from Belize, with no US office, employees or agents, generally owes no US income tax, and distributions are not dividends. The LLC files Form 5472 with a pro forma Form 1120 every year, with a $25,000 penalty for missing it (see Form 5472 explained).

Example: a dive and tour operator on Ambergris Caye

These are illustrative figures, not a client case, at BZ$2 to the dollar.

Luis runs a dive shop and day-tour business in San Pedro. Most guests are American and book online months ahead. He wants a US merchant account, US-dollar deposits and US booking platforms that pay out only to US bank accounts. With Central Bank permission, he forms a Wyoming LLC, opens a US business account and takes deposits through it: US$180,000 a year.

• USA: the tours happen in Belize, the LLC has no US office or staff, and its booking income is not US business income. The LLC files Form 5472 and a pro forma 1120.
• Belize: the tours are Belizean activity. His Belizean company invoices the LLC for each tour, and pays business tax on its gross receipts at the tourism rate, plus hotel and tourism taxes where they apply. The LLC transfers funds to his Belizean company's account as the invoices fall due, through the channel he described in his exchange control application.

What he gained: easy US payments, refunds and chargebacks handled in the USA, and deposits held in US dollars. What he did not gain: any reduction in Belizean tax on the tours.

US C-Corp formation from Belize

US tax position

A US corporation pays 21% federal tax on its profits, plus state tax where it operates, and files Form 1120 and Form 5472 every year (see the 21% corporate tax explained and the C-Corp guide for non-residents). Dividends to Belize are withheld at 30%.

When it fits

• Exporters with US inventory. A seafood or specialty food exporter that holds stock in a US warehouse, employs a US salesperson and sells to US distributors has US business income. A corporation keeps the US tax inside a company at 21% (see US subsidiary for a foreign company).
• Belizean BPO and call-centre companies that sign contracts with US enterprises and need a US entity with US insurance and US account managers. The US corporation earns a sales margin and pays the Belizean centre for delivery.
• Start-ups raising investment, which need a Delaware C-Corporation (see raising US investment as a foreign founder).

A corporation also needs Central Bank permission for the investment, and dividends it later pays to Belize come back as foreign currency to be surrendered or held under the rules.

Belizeans in the USA

Belizean Americans are concentrated in Los Angeles, Chicago, New York (Brooklyn especially) and Houston. Many own trucking, construction, catering and property businesses with relatives in Belize.

• A US-resident owner pays US tax on their share of the profits.
• A multi-member LLC with a US-resident member is a partnership and files Form 1065. The Belize-resident member's share of US business income is subject to partnership withholding, and that member files a US non-resident return.
• The business must be registered where it operates: California, Illinois, New York or Texas.
• A Belize-resident partner still needs Central Bank permission to invest in the US business.

See single-member vs multi-member LLC.

US expatriates in Belize

Many Americans live in Belize, especially on Ambergris Caye, in Placencia and around San Ignacio, some under the Qualified Retired Persons programme. A US citizen is a US taxpayer wherever they live. A US LLC owned by an American in Belize is not a foreign-owned LLC, and its income is reported on the owner's US return as usual. The non-resident rules in this guide do not apply to them.

Which state

• Wyoming or New Mexico for a tourism, online or services LLC run from Belize.
• Delaware for a corporation, an exporter's US company or a start-up.
• The state where a diaspora business operates.

See best state for non-residents and the state selector.

What it costs

UCB's prices include state fees and the first year of registered agent service:

• Wyoming LLC with EIN: $249, or $348 with a US bank account application.
• New Mexico LLC with EIN: $249.
• Delaware corporation with EIN: $358.

A Wyoming LLC costs $121 a year to keep active, or $421 with the annual federal return. A US business address with your own suite number is $60 a year. See what a US LLC costs every year.

Banking and documents

Use your Belizean passport for identity. For proof of address, a BEL (Belize Electricity Limited) bill, a Belize Water Services bill, a DigiCell or SmartTel bill, or a bank statement.

US banks and fintechs accept Belizean owners, but Belize's offshore history means they look carefully at ownership and activity. Strong applications include:

• a real operating business with a website and customer reviews;
• your Central Bank of Belize permission letter;
• invoices or booking records showing US customers;
• a US business address with your own suite number.

Payments from the US account to Belize Bank, Heritage Bank, Atlantic Bank or the National Bank of Belize arrive as US-dollar transfers, which your bank will handle under exchange control rules. See US business bank accounts for non-residents, why banks reject non-resident applications and Stripe for non-residents.

Mistakes to avoid

• Funding a US company or running a US account without Central Bank permission.
• Leaving tour or service revenue in the US LLC and not declaring the Belizean business tax on the work done in Belize.
• Adding a Belize IBC between you and the US company for no benefit.
• Paying dividends from a US corporation to Belize at 30% with no treaty.
• Missing Form 5472 in a year when no US tax was due.

Frequently asked questions

Can a Belizean own 100% of a US company? Yes. No US visa, Social Security number or visit is required.

Do I need Central Bank of Belize permission? Yes, for outward investment by a resident, and approval is also required to operate a bank account abroad. Apply to the Exchange Control Unit before you fund the company.

How does Belize tax income from my US company? Belizean business tax is charged on gross receipts from activity in Belize. Work you do in Belize is taxable there, whichever company invoices it.

Is there a US–Belize tax treaty? No. US dividends, royalties and related-party interest paid to Belize are withheld at 30%.

Does my US LLC pay US tax? Not if it has no US office, staff or agents. It files Form 5472 and a pro forma 1120 every year.

How UCB can help

We form US companies for Belizean owners remotely: the state filing, EIN, registered agent, US business address and bank application. We can give you a written description of the company and its banking for your Central Bank application. Each year we file the federal return through our US tax filing service. See our formation, EIN and bank account package, and the Guatemala and Jamaica guides for neighbouring rules.

Setting up a US company from Belize? WhatsApp us at +1 315 961 2956 or email enquiries@ucbsolutions.com.