Belize international trusts (offshore trusts) are tax free vehicles primarily used in inheritance and estate planning, as well as asset protection. We provide quick reliable service, sound advice, plus formation fees and annual maintenance fees that are competitively low.
Settling an Offshore Trust in Belize
For safe, tax free asset protection and estate planning, Belize offshore trusts are devices you can certainly rely on.
These structures come into existence whenever property is vested in a trustee, on condition that such property does not form part of the trustee’s own estate.
Settlor of Trust
Who is a settlor? ‘Settlor’ refers to anyone who according to the law of Belize has the capacity to own and transfer property.
Offshore trusts in Belize can be settled for:
- the benefit of a person
- any valid charitable or non-charitable purpose
- both the benefit of a person and a charitable or non-charitable purpose
Letter or Memoranda of Wishes (Deed)
Trust formation involves a series of formalities, the drafting and signing of the Letter of Wishes which contains the terms of the trust being of them.
Settlors may either send us their Letters already prepared or request to have one prepared by us according to their terms. For guidelines please Contact Us .
Trust Beneficiaries and Purpose Trusts
Belize trusts must be settled for the benefit of at least one person or for a purpose.
- Purpose trusts are those settled with charitable or non-charitable objectives (advancement of religion, the environment, human rights, community programs, alleviation of poverty).
We require specific details for each beneficiary, or the purpose of offshore trusts being settled.
Trustee(s) of Trust
At least one trustee is required to establish the trust. The trustee’s main function is to carry out the terms of the trust.
Only persons who according to the law of Belize are capable of owning and transferring property can be the trustee of offshore trusts.
Only charitable purpose trusts are allowed to have more than four trustees.
- Act by resolution or through resolutions of the board of directors or governing body
- Exercise the power to appoint officers to act on its behalf
Trust property may include any property (land, house, buildings, money, shares, stocks, etc.).
- Property of Belize offshore trust must be situated outside Belize.
Protectors serve as intercessors between the trustee(s), settlor(s) and beneficiaries.
Their powers are generally determined by the terms of the trusts, in accordance with the Trusts Act, and may include the removal and appointment of trustees.
A protector is mandatory for settling a non-charitable purpose trusts, but optional where the trust is established for the benefit of a person.
Confidentiality of Trusts Register
Under sections 65C (1) and (2), the Registrar of international trusts is prohibited from making the Register available to the public and disclosing any information contained in the Register.
Details pertaining to any Belize offshore trust can only be shared with third-parties by written authorization of the trustee or trust’s agent.
The main statutes by which Belize offshore trusts are regulated include the:
- Trusts Act, Chapter 202
- Trust (Amendment) Act, 2007
- Trusts (Amendment) Act, 2013 — No. 16 of 2013
Duration of Belize Trusts
Unless terminated earlier, Belize offshore trusts have a maximum duration of 120 years from the date of settlement.
Local Address and Agent
We provide a Belize registered address and agent services which are requirement for settling offshore trusts in Belize.
For details on formation requirements and formalities, further guidelines and to learn how to structure a Belize offshore trust to suit your unique circumstances and protect assets, please Contact Us .