(9.) Shares
A company may have different classes of shares of divided interests. These shares may have varying rights as to income and capital of a company both during operation and during liquidation. The shares or interests of a member in a company shall be part of their personal estate and transferable in the manner provided by the articles of the company. These shares shall not be of the nature of real estate, which is restricted in Belize. Each share shall have a distinguishing number and a certificate under the seal of the company, this specifying any shares or stock held by any member. It shall be prima facie evidence of the title of the member to the shares or stock.
Id. §§ 23, 24.
Belize Tax Law Thesis 