On this page, you will find information on our Belize International Foundations. It identifies the many advantages, benefits and rewards of the foundation in tax haven Belize. Also, it highlights the formation process, the requirements and the documentation needed.
Belize Offshore Foundations
Become the founder of your own grand asset protection and estate management plan. Simply assert the freedom to dictate how to strengthen the future financial well-being of you and yours.
From 2010, offshore enthusiasts have set up foundations in Belize and reaped the benefits thereof. Fully tax-exempt, these foundations guarantee a myriad of tax-sheltered advantages especially with regard to eliminating income and property related tax obligations.
Belize International Foundation Key Facts
A founder declares his intention to create a foundation for a stated purpose or the benefit of a person or class of persons in the Foundation Charter.
The Charter states the:
- proposed name of the foundation
- personal details of the founder(s)
- foundation’s purpose, or beneficiary or class of beneficiaries
- value of the initial property vested in the foundation
- terms of investment, administration and eventual distribution of property
- personal details, rules of appointment and dismissal of council members
- rights and interests of the beneficiary and council
- foundation’s duration
- provisions for the designation of a protector, his rights and duties
The subject-matter of any Belize foundation must involve property such as shares, land, gifts or encumbrances (etc) valued at no less than US$10,000.
- A founder, council, beneficiary and registered are compulsory for formation purposes
- Foundations can be formed by one or more founders (individuals or corporations);
- Founders are not allowed to serve as protectors
- Beneficiaries are not allowed to be members of the council
- Foreign law is excluded so that no foundation can be set aside, made defective or void;
- If no permanent resident of Belize is a council member, a secretary must be appointed;
- Whenever appointed, the secretary must be a resident, may be the registered agent; and must not be the only member of the foundation council
- Restrictions are placed on the ownership of property, investment and business in Belize
- Accounts, records and minutes must be prepared and stored
Built-in Asset Protection Features of Belize International Foundations
The Belize international foundation preserves property by:
- First and foremost, being governed solely by the laws Belize
Excluding foreign law so that
- no foundation or property transferred to it is made void or defective
- the founder’s capacity to dispose property and beneficiary’s right to receive are not defeated, denied or contravening any foreign law
- Requiring any action to void a foundation or withhold any portion of property to be brought forward only by the Government of Belize, or the founder, beneficiary, council, a member of the council or the protector.
- Requiring all actions to be brought forward in no less than one year of the date on which the charter was executed or within two years after the claimant’s underlying cause of action arises, whichever is earlier, regardless the date of transfer of property to the foundation.
- Prohibiting the disclosure of information relating to the foundation’s charter and by-laws, duties of the protector, council, individual members, meetings of council and financial details of the foundation, its founder and beneficiary.
Get in touch with us, to receive all guidelines necessary for satisfying formation requirements for Belize offshore foundation, as well as advice to help frame your decision on the device that best suits your offshore needs.