No. The only legal requirement is to maintain a "minimal compulsory representation" in Belize.
This is addressed by having a registered office and a registered agent in Belize. An International Business Company is not allowed to do business locally.
In other words, an IBC may not sell anything to residents of Belize. However, a Belize IBC may perform the following activities in Belize that will not infringe on its tax-free status.
- Own and use bank accounts in Belize
- Maintain a relationship with solicitors, accountants, etc.
- Hold meetings of directors or members in Belize
- Rent an office space in Belize
