Intellectual Property (IP) Assets Grandfathering Certification Programme
Section 5(4) of the International Business Companies Act, Chapter 270 of the Substantive Laws of Belize, Revised Edition 2011 (as amended by Act No. 17 of 2019) came into force on 1 January 2019, Belize International Business Companies (IBCs) shall not acquire, hold, own, or deal in any International Property Assets (“IP assets”). However, IBCs which were incorporated on or before 30 June 2018 (in respect of IP assets acquired up to 16 October 2017) were afforded an exemption period to be able to continue holding, owing or dealing with IP up to 30 June 2021. (“the grandfathered period”)
In respect of the above, all IBCs are required to complete and provide their registered agents the Intellectual Property (IP) Assets Grandfathering Certification Programme Form (the ‘IPAG Form’) for submission on or before 31 January 2020. No further extensions will be given.
IPAG Form can be downloaded by clicking the link below,
If the IBCs fail to submit the IPAG Form within the specified time-frame, both the registered agent and/or that IBCs may be subject to an appropriate disciplinary action for any respective failure to fulfill an obligation.
Should you have further queries, please contact your Keyway representative for assistance.