Belize Economic Substance Declaration — Expert Filing Support
Under the Economic Substance Act 2019, Belize companies engaged in relevant activities must file an annual declaration with the Financial Services Commission. We determine which form applies to your entity — Form B, C, or D — prepare the required documentation, and ensure timely submission.
Understanding Belize Economic Substance Declaration Filing
The Economic Substance Act 2019 (ESA), enacted on 12 October 2019, requires Belize companies engaged in designated relevant activities to demonstrate genuine economic presence within the jurisdiction. This legislation was introduced in response to concerns raised by the Council of the European Union regarding the absence of substance requirements for entities operating in and through Belize.
All Belize companies — whether classified as included entities, pure equity holding companies, or non-included entities — must file an annual declaration with the Financial Services Commission (FSC). The applicable form depends on the nature of the entity: Form B for included entities conducting relevant activities, Form C for pure equity holding companies, and Form D for non-included entities.
Each declaration must be signed by a director of the company (nominee directors are not accepted) or the majority shareholder, and is submitted through the company's Registered Agent. Information provided in these forms may be exchanged with authorities in jurisdictions where the entity's beneficial owners reside.
Information Required
Form Determination (B, C, or D)
Relevant Activity Assessment
Substance Evidence (Form B filers)
Tax Identification Number (TIN)
Non-included entities filing Form D need only confirm that no relevant activities are being conducted. Pure equity holding companies filing Form C must demonstrate that adequate resources exist to manage the holding function.
Exemptions from Substance Tests
Non-Included Entities
Foreign Tax Residents
IP Prohibition (Post-2019)
TIN Still Required
Exemption from the substance tests does not mean exemption from filing. All Belize companies must submit the appropriate declaration form regardless of their activity status.
Penalty Structure
Administrative penalties
Fines ranging from BZD 150,000 to BZD 300,000 (approximately US $75,000 to US $150,000) for non-compliance with substance requirementsCriminal conviction
On summary conviction, a fine of up to BZD 200,000 and/or imprisonment for up to one year may be imposedContinuing violations
An additional penalty of BZD 1,000 per day for each day the violation persists, applied on top of the base administrative fineLicense revocation & strike-off
The FSC may revoke the entity's license to conduct relevant activities, and the company may be struck off the Register of CompaniesTotal administrative penalties are capped at BZD 350,000, excluding daily continuing violation charges. The FSC may also impose up to US $1,000 per case for failure to submit declaration forms.
ES Declaration Filing Deadline
The economic substance declaration must be submitted within 9 months from the end of the entity's fiscal year. Unlike the annual return or business tax return, this deadline is tied to each company's individual fiscal year-end — not a fixed calendar date.
| Fiscal Year (Example) | Filing can be done between | Deadline | Subsequent years |
|---|---|---|---|
| 1st January 2024 to 31st December 2024 | 1st January 2025 to 30th September 2025 | 30th September 2025 | 30th September |
| 1st April 2024 to 31st March 2025 | 1st April 2025 to 31st December 2025 | 31st December 2025 | 31st December |
Navigate Belize Economic Substance Requirements with Confidence
We assess your entity's classification, determine the correct declaration form, and handle the submission to the Financial Services Commission through your Registered Agent.
No Surprise Fees
The ES declaration filing is part of your compliance package — the cost is clear upfront with nothing added later.
ESA 2019 Compliance Knowledge
Our team is well-versed in the Economic Substance Act, including the Form B, C, and D classification framework and the eight relevant activity categories.
Personal Relationship Manager
A dedicated contact handles your ES declaration from start to finish — ensuring consistency and clear communication throughout.
Proactive Filing Reminders
We track your fiscal year-end and send timely alerts so your declaration is prepared and submitted within the 9-month window.
Efficient Form Preparation
Once your entity classification is confirmed, we compile the required details and coordinate submission through the Registered Agent without delay.
Economic Substance Compliance, Simplified
From entity assessment to FSC submission, we manage every step of your Belize economic substance declaration.
ES Declaration Filing — No Additional Fee
Your economic substance declaration is filed as part of your ongoing compliance arrangement. No separate invoice for this essential obligation.
For Existing Customers
For Company Transfers
What's Included
Entity classification and Form B, C, or D determination
Declaration preparation with supporting documentation
Submission to the FSC via your Registered Agent
Personal relationship manager for your filing
Fiscal year-end tracking with 9-month deadline alerts
How Your ES Declaration Gets Filed
From entity assessment to FSC submission — a clear, four-step process for your Belize economic substance declaration.
Entity Classification Assessment
We evaluate your company's activities against the eight relevant activity categories under the Economic Substance Act 2019 and determine whether your entity is classified as included, a pure equity holding company, or non-included.
Form Selection & Preparation
Based on your classification, we prepare the correct declaration — Form B for included entities, Form C for pure equity holding companies, or Form D for non-included entities — along with any required substance evidence or supporting documents.
Director Sign-Off & Submission
A director of your company (not a nominee) or the majority shareholder reviews and signs the declaration. We then coordinate submission to the Financial Services Commission through the Registered Agent.
Filing Confirmation
After the FSC receives your declaration, we provide a filing confirmation for your records — verifying that your company has met its economic substance obligation for the fiscal year.
Stay Compliant with Belize ES Requirements
We handle the entity assessment, form preparation, and FSC submission — giving you peace of mind that your declaration is filed correctly and on time.
Frequently Asked Questions
Answers to common questions about Belize economic substance declarations and the ESA 2019.
It depends on your entity type: Form B is for included entities conducting relevant activities, Form C is for pure equity holding companies, and Form D is for non-included entities not engaged in any relevant activities. We evaluate your company's activities and advise on the correct form.
The Economic Substance Act covers eight designated activities: banking, insurance, fund management, financing and leasing, headquarters business, distribution and service centre business, shipping, and holding company activities. Companies engaged in any of these are classified as included entities.
The declaration must be submitted within 9 months from the end of your company's fiscal year. For example, if your fiscal year ends on 31 December, the filing deadline is 30 September of the following year.
Even non-included entities must file an annual declaration. In this case, Form D is submitted confirming that the company is not engaged in any of the eight relevant activities. We handle this as part of your standard compliance service.
No. Under the ESA 2019, the declaration must be signed by an actual director of the company — nominee directors are not accepted. Alternatively, the majority shareholder may sign. We coordinate this step to ensure the declaration is properly authorised.
A Tax Identification Number (TIN) is issued by the Belize registry and is required for all entities. Without a valid TIN, your company cannot obtain a Certificate of Good Standing — even if it is otherwise exempt from the substance tests.
Penalties under the ESA are significant: administrative fines range from BZD 150,000 to BZD 300,000 (approximately US $75,000 to $150,000), with continuing violations attracting BZD 1,000 per day. Criminal conviction may result in fines up to BZD 200,000 and/or imprisonment for up to one year. The FSC may also revoke licenses and initiate strike-off proceedings.
ES declaration filing is available only for Belize companies under Expanship management. If your company is with another provider, you can transfer to Expanship and we will handle any outstanding declarations during the transition.
Yes. Once the Financial Services Commission receives your declaration through the Registered Agent, we provide a filing confirmation for your records — verifying that your company has satisfied its economic substance obligation for the fiscal year.
Questions About Economic Substance Declarations?
Unsure which form applies to your company, or need guidance on the ESA 2019 requirements? Our team can help clarify your obligations.
