Belize Company Restoration
Belize companies that have been struck-off the Register for failure to pay license fees can apply to be restored.
We are able to assist and advise on the restoration process to put your company back on the companies register. Once in Good Standing the company is authorised to begin trading again.
Once restored, the company is deemed never to have been struck off the Register.
In order to have a company restored all arrears, penalties and outstanding charges must be fully paid and the restoration fee to the Belize International Business Companies Registry.
Belize Company Restoration fees
- Government Restoration fee – US$1500
- Government Annual Licence fee – US$150 per year
- Government Penalty fees – from US$75 per year
- Drafting Resolution to appoint new Belize registered agent – £100
- Filing fee to appoint new Registered Agent – US$150
- Admin restoration fees and charges in Belize – US$600
- Belize Agent fee – US$1000
- Provision of Registered Office and Resident Agent – £520 per year
- Due Diligence Fee – per Director & Shareholder – £80
- Company Search and checking the company file – £68
- Our Assistance fee to restore Belize Company – £600
- 2% Transfer fee – for penalties, fees and charges to Belize – to cover exchange rate changes, bank charges and fees
Legal Costs & Expenses on Company Restoration
- Obtain a Company Search from the Belize International Business Companies Registry
- Drafting and completing the documents necessary for the application
- Drafting the restoration documents and resolutions
- Serving documents and communicating with the Registrar of Companies
- Advertisement if required
- Filing the application with the Court if necessary
- Attending court hearing
Disbursements or Expenses:
- Outstanding filing fees on Annual Returns
- Penalty for late filings and other penalties
- Court filing fees in Belize if appropriate
- Filing fees to the Companies Registry on the restoration application
Company Restoration Process
In order for a struck off company to be restored by the Belize Registry the following fees must be paid:
- Pay all the annual government fees it would have paid as if it had remained active
- Pay the government restoration fee to the Belize International Business Companies Registry
- Payment of all unpaid Registered Agent fees
When all the fees and penalties are paid, the Registrar shall restore the company to the register and upon the restoration the company shall be deemed never to have been struck off.
If your company is not restored within 3 years of being struck off it will be involuntarily dissolved by the Belize registry.
Restoration Time Limits
5 years – Belize company can be restored by administrative restoration.
After five years – The company is involuntarily dissolved by the Belize registry. The company can then only be restored through the Courts.
10 years – Court application must be made within ten years of the date the company was dissolved.
Once three years have elapsed in strike off the Belize Registry moves to involuntarily dissolve the company.
Effect of a company being Struck Off
A company struck off the register is unauthorised to trade and is not in Good Standing. 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.
Transferring Belize Registered Agent
A 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 will organise.
Company Directors and Shareholders
When a Belize company is restored, the previous Directors, Company Secretary and the Shareholders are automatically assumed to have continued.