Regulatory Alerts2020-11-18
Guidance Note G-CD-No.12.7 of 2020: Applicability of Economic Substance Requirements to Struck-Off International Business Companies
The International Financial Services Commission clarifies that struck-off International Business Companies remain subject to economic substance requirements and annual filing obligations under the Economic Substance Act 2019. Licensees and entities must ensure adequate economic substance in Belize and submit prescribed annual returns through Registered Agents within nine months of the fiscal year end. Failure to comply with these mandates exposes entities to enforcement actions, administrative penalties, and significant fines.
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