Accounting Records Maintenance Guidelines for Belize Companies
As part of the ongoing regulatory compliance framework in Belize, all Belize-incorporated entities are reminded of their continuing obligations under the Accounting Records (Maintenance) Act, amended on 28 August 2023.
-
Keeping of Accounting Records at Registered Office
In accordance with the Section 2 of Accounting Records (Maintenance) Act, the “Accounting Records” includes financial statements, general and subsidiary ledgers, sales slips, contracts and invoices, and records and documentation relating to:(1)
An entity’s assets and liabilities;
(2)
All sums of money received and expended and the matters in respect of which the receipt and expenditure take place;
(3)
All sales and purchases; and
(4)
All financial transactions.
These accounting records shall be maintained and retained for a period of not less than 5 years.
-
Annual Submission
Entities must submit accounting documents for each fiscal year.
The registered agents were required to report the list of non-compliant entity with the Financial Services Commission and cease to act as the registered agent of those companies.
If the company fails to comply with or contravenes any provisions of the Accounting Records (Maintenance) Act, an offence and liable on summary conviction to a fine not exceeding ten thousand dollars and the authority may revoke its registration in Belize.
-
Kaizen’s Services
Kaizen is a public accounting corporation registered in Hong Kong and with offices in the Mainland China, Singapore, USA and etc. We are equipped with experienced accountants to provide full range of accounting and book-keeping, auditing and taxation services.
We are ready to help you prepare the accounting records, update the books of accounting and prepare the annual financial statement so as to enable your Belize company to meet the annual return requirements.
