Offshore company in Belize

Tax exempt offshore companies

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Belize Offshore Trusts

Belize offshore (asset protection) trust is used in conjunction with the Belize offshore company, to provide additional legal protection for company's owner. Belize trusts are incorporated under the Trusts Act, Chapter 202 of the Laws of Belize, with substantial amendments as regards International Trusts introduced by the latest Belize Trusts (Amendment) Act 2007. The Trust law of Belize currently is one of the strongest and most flexible in the world.

It is defined by the Belize Trusts Act that an International or Offshore Trust is a trust where the settlor is not resident in Belize, none of the beneficiaries are residents of Belize, trust property does not include any land situated in Belize, and the settled law of the trust is the law of Belize. A Belize International Trust is not required to have a Belize-based trustee, but a licensed trust agent in the offshore jurisdiction must be appointed.

Belizean asset protection trust has the whole range of tax advantages: its trust property is permanently exempt from income and business tax, estate, inheritance, succession or gift tax, and all instruments relating to the trust property or to transactions carried out by the trustee on behalf of the trust are exempt from stamp duty. The trustee of a Belize International Trust is regarded as non resident of Belize, exempt from exchange control with regard to the trust property and all transactions carried out by the Trustee on behalf of the Trust.

Belize is one of the few jurisdictions where immediate protection is available against "proceedings few fraudulent conveniences", which can include duress, fraud, mistake, undue influence, misrepresentation or incapacity of the settlor. There is no minimum period of time for which the Trust must be established before it cannot be attacked.

While domestic trusts under the Belize Trusts Act do not require a written form and official registration to be valid, International Trusts must be in writing, properly filed and registered with the Registrar of International Trusts in Belize, with the following information maintained in respect to every International Trust — name of the trust, date of settlement and date of registration, name of the trustee, name of the protector, name and address of the trust agent.