Belize Company Restoration
Do you need your Belize Company Restored to unfreeze assets or continue trading? Contact us for an expert and reliable Belize Company Restoration service.
A struck-off or dissolved International Business Company (IBC) in Belize can only be restored to the register through a Belize company restoration application to the International Business Companies Registry. We assist with all document requirements to have your company restored to good standing with the company registry. Once the company is restored it will regain access to all assets or property held by the Belize government at time of strike off.
In order to have your company restored all penalties and outstanding charges must be paid along with a government restoration fee paid to the Registry.
Belize Administrative or Court Company Restoration
If the name of a company has been struck-off the Register a creditor, director, shareholder or liquidator, will need to apply to either the International Business Companies Registry or the Belize company court to have the name of the company restored to the Register. The restoration required is dependent on the circumstances and time passed since the company was struck off the register.
Belize Administrative Company Restoration
Once a company is struck-off there is a five year period in which the company may be restored through administrative restoration, after three years the Belize Registry moves to involuntarily dissolve the company. A dissolved company may still be restored through administrative restoration if all arrears and penalties are settled but the process will take much longer, is more complicated and will require special permission from the Registrar. We are able to advise with the restoration of dissolved companies and guide you through the process.
Belize Court Company Restoration
If the company was struck-off over 5 years ago it can no longer be restored solely by the International Business Companies Registry, it will also require authorisation from the Belize Company Court. To have the company restored via Court order will require a member of our team visiting the courts to gain a letter of no objection for the company to be restored from a judge before applying with the International Business Companies Registry. The process is more complicated and time consuming so the fees will be higher for this service.
Fees & Penalties for Belize Company Restoration
In order for a struck-off company to be restored by the Belize Registrar the following fees must be paid:
- $600 if the restoration is applied for after 6 months following the striking of the name off the Register
- Overdue Government licence fees
- Transfer of Registered Agent fee
- Late filing penalties
- Court fees if the company was struck off over 5 years ago.
If your company is not restored after 5 years of being struck off it will be involuntarily dissolved by the Belize registry on January 1st.
Effect of a Belize company being struck-off
A Belize company struck off the register is unauthorised to trade and is not in Good Standing with the authorities. The company still remains liable for all claims, debts, liabilities and obligations it has but the liability of the shareholders, directors, shareholders and agents remains limited. The company will not be able to sell any of its assets or property as long as the company is struck off the register.
Late Filing PenaltiesAnnual fees are due on 1st of January following the date of incorporation, if your company fails to pay the annual fees by the 31st July the licence fee will increase by 10%. If your company fails to pay the annual fees by the 31st October the licence fee will increase further by 50% and if your annual fees remain unpaid after the 31st day of December, your company will be struck from the Register of Companies.
Transferring Registered AgentA Belize company can only be restored by the registered agent on record, or the agent must be changed to a new agent undertaking the company restoration, which we can organise.
Restore your Belize Company
Complete our restoration form and we can provide a detailed breakdown of fees, along with a potential timeframe to have your company restored to the register.