Formation

(1) A registered agent acting on behalf of one or more persons (and if natural persons, 18 years of age or older) who do not reside in Belize may organise a limited liability company by executing and delivering articles of organisation to the Registrar as specified in section 20 of this Act. The person or persons on whose behalf the Registered Agent is acting need not be members of the limited liability company either at the time of formation or afterwards. (2) A limited liability company shall be a legal entity with separate rights and liabilities distinct from its members and managers. Any estate or interest in property may be acquired, held or conveyed in the name of the Limited Liability Company and title to any estate or interest so acquired shall vest in the limited liability company.