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Offshore Company Formation Belize: Professional offshore incorporations and offshore banking services
Offshore Company Formation Belize
Belizean laws allow for the following categories of business ownership:
However, almost all offshore or foreign businesses use the International Business Company or Trust forms, sometimes in combination.
An IBC is formed by filing Articles and Memorandum of Association along with the required fees. The following are the main characteristics of an IBC:
The IBC act prohibits an IBC from:
Otherwise, a Belize IBC may engage in any activity that is not unlawful in Belize.
Belizean IBCs are specifically exempted from any form of income tax, capital gains or transaction tax. Any IBC can conduct its business in any foreign currency it may choose free of the Belizean government regulation or restriction.
Among the many uses of IBCs are:
Trusts established under Belize law (see below) often incorporate a Belize IBC which serves as an asset-holding device for the trust. This provides an added layer of insulation, allowing the trust to withhold details of its existence and beneficiaries from third parties such as bankers or brokers dealing with the IBC.
Belize's legislation facilitates speedy and simple incorporation, and its modern and computerized IBC Registry is capable of incorporating a company within one hour.
The Act provides for the creation of a trust (other than a unit trust) by oral declaration, an instrument in writing (including a will or codicil), conduct, operation of law, or in any other manner whatsoever. A unit trust, however, may only be created by an instrument in writing. A trust (other than a constructive trust) over land situated in Belize is not enforceable unless evidenced in writing.
Registration of trusts is optional. Either the settlor or a trustee may apply to the Registrar. If a trust is registered, a certified copy of the instrument creating the trust (if any) needs to be submitted. The Register is not open for inspection except when the trustee of a trust (in writing) authorises a person to inspect the entry of that trust on the Register.
The maximum duration of a trust (other than charitable trusts) under Belize law is 120 years from the date of its creation. Trust income may be accumulated for a period not exceeding the maximum duration of the trust.