By using our website you consent to all cookies in accordance with our Privacy Policy.

Belize’s International Financial Services Commission has latterly disseminated the template Economic Substance Forms (B, C and D), coming after its earlier guidance note of G-CD-No.7. 2 of 2020, released on 27th April 2020.

Belize Economic Substance Declaration Forms

Who and How to declare Economic Substance in Belize?

Pursuant to Belize Economic Substance Act (2019), all Belize IBCs and relevant entities regulated under this Act must proceed with annual filing and delivery of economic substance report to the Commission.

The reporting period is set during 9 months from the entity’s fiscal year end. Note that each group of entities shall be subject to different declaration forms as prescribed by the Commission.

Below table clarifies each form which must be well-attached to certain entities under Belize ESA:

EntityApplied FormSubmission Date
Included entities or holding companies fully or partly conducting relevant activitiesForm B >>Within 9 months after ending the fiscal year
Pure equity holding companiesForm C >>
Non-included entitiesForm D >>

Note: Information described on each Form B, C, D must be thoroughly examined and approved with signature by the director (nominee director is not accepted) or the majority shareholder. Furthermore, any compliance failure to follow economic substance reporting requirements as above mentioned can be subject to a financial penalty up to US$1.000 per case.

Still uncertain about whether your entity is subject to Belize ESA or not? Please visit our guide Belize Economic Substance Requirements and Tax Guides for further details. You can also use our Belize ES Self-Assessment Tool to have a check on it!

Recent Posts

faqs-about-delaware-corporation
20 Apr 2021

FAQs – 12 Frequently Asked Questions About Delaware Corporation

You may be confused about corporation types, structures, benefits, annual fees and how to form. These 12 FAQs about Delaware corporation are for you.

Read more
private-limited-company-in-the-uk
15 Apr 2021

Private Limited Company – An Emerging Form of Business in the UK

Everything you need to know about forming a Private Limited Company in the UK, including the pros and cons, formation requirements, and legal responsibilities.

Read more
delaware-withholding-tax
16 Apr 2021

Delaware Withholding Tax: What New Employers Should Know

Delaware withholding tax is imposed on wages paid to employees who perform for a company in the state. The employer must pay the amount to the local authority.

Read more
delaware-franchise-tax-and-annual-report
16 Apr 2021

Delaware Franchise Tax And Annual Report: What You Need To Know

Delaware franchise tax is one of mostly-asked topics for any business registered in the state, especially corporations and LLCs. This blog will explain to you.

Read more
how-to-form-a-delaware-corporation
7 Apr 2021

How To Form A Delaware Corporation: A Complete Guidance

Forming Delaware corporation is a trending option for most startups in the US. These easy-to-follow steps will guide you on how to set up a Delaware corporation.

Read more
delaware-llc-annual-fees-and-annual-report
1 Apr 2021

Delaware LLC Annual Fees and Annual Report: How to Stay Compliant

A Delaware LLC need not file an annual report. But it may report on its income. Besides, a Delaware LLC needs to pay two kinds of annual fees for maintenance.

Read more
delaware-corporation-benefits
2 Apr 2021

Top 4 Delaware corporation benefits you should know

Forming corporations in Delaware offers a large number of benefits in taxation, legal process, privacy protection, investor attraction. Read this for details.

Read more
how-to-register-llc-in-delaware
13 Apr 2021

How to Register an LLC in Delaware (in Only 3 Steps)

To register LLC in Delaware, you can follow the 3 simple steps: choose the LLC name, submit an application, and receive the result. Learn more!

Read more
reasons-why-you-should-incorporate-in-singapore
31 Mar 2021

Reasons why you should incorporate in Singapore (2021 updates)

Small in size, enormous in scale – this is the best way to describe Singapore. Let's take a look at reasons why you should incorporate in Singapore with BBCIncorp!

Read more
delaware-llc-overview
22 Mar 2021

Uncover Delaware LLCs in 8 questions

Delaware limited liability company is a very common type of business entity for non-US residents. Here’re 8 questions to uncover your curiosity about Delaware LLCs.

Read more
delaware-llc-advantages-disadvantages
13 Apr 2021

Delaware LLC with its benefits and drawbacks

Why incorporate in Delaware? Along with tons of benefits, Delaware LLC also has some drawbacks. Let’s take a closer look at its advantages and disadvantages!

Read more
starting-a-business-in-delaware
10 Mar 2021

Starting a business in Delaware: A guide you can't miss

Starting a business in Delaware might be no easy task. There are requirements that need to be taken into consideration. Let's find out more with BBCIncorp!

Read more