As of January 1, 2019 legislation was passed in Belize that states that Belize International Business Companies (IBCs) shall not acquire, hold, own, or deal in any intellectual Property Assets (IP assets), pursuant to Section 5(4) of the International Business Companies Act, Chapter 270.
Consequently all IBCs are required by the International Financial Services Commission (the authority) to electronically complete the Intellectual Property (IP) Assets Grandfathering Certification Programme Form (IPAG Form).
If the IBC does not provide the completed IPAG Form within the specified time frame (31 January 2020), that IBC may be subject to an appropriate disciplinary action as per the authority directive.
If the IBC does hold intellectual property, note that an administrative fee must be paid in order to check if we can apply for grandfathering period ( for companies registered up to 30/6/2018 with IP acquired before 16/10/2017) and prepare the application in which case we will proceed to provide the file to be used to indicate the type of intellectual property and what information will need to be provided to the authorities.
In view of the above please respond to us by 24 January 2020
For more information and clarifications please contact our overseas department: