Management and control

An included entity demonstrates substantial economic presence in Belize if the following criteria relating to Board management and control are satisfied16 (a) an adequate number of meetings of the Board of Directors are conducted in Belize given the level of decision making required; (b) there is a quorum of the Board of Directors present for meetings in Belize; (c) strategic decisions of the included entity made at the meetings specified in paragraph (a) must be recorded in the minutes of the meetings; (d) all records and minutes of the included entity are kept in Belize; and (e) the Board of Directors has the necessary knowledge and expertise to discharge its duties.