Offshore Banking / IBC's

Asset Protection and Tax Minimization

According to International Living, Belize is one of the best banking and tax havens in the world. Many financial advisors, in fact, believe that Belize is a far better option than better-known tax and private banking havens like Switzerland, Austria, Panama, and the Cayman Islands. In 1990, Belize officially adopted its International Business Companies Act, the Trusts Act, and the Offshore Banking Act, and became a premier jurisdiction for asset protection trusts.

The International Business Companies Act of 1990 gives foreigners an opportunity to incorporate in Belize and enjoy huge advantages. IBCs are exempt from taxes on all income. And, IBCs are not subject to any foreign-exchange controls. IBCs can be used for financial management, investment holding, ship or property ownership, shared ownership of other companies, leasing of assets, copyrighting and licensing, and general commercial trade. There are, however, significant restrictions on IBCs. For more information, please refer to the International Business Companies Registry of Belize.

Belize Asset Protection Trust Act confers additional asset protection advantages. The great benefit of the trust is that it allows the legal ownership of property to be distinguished and separately vested from the enforceable rights of use and enjoyment of that property. This makes the trust, particularly when established offshore, an extremely flexible, sophisticated and creative instrument for asset protection, tax, estate, and investment planning, and the preservation of confidentiality.

The Offshore Banking Act enables licensed banks and other related businesses to operate from within Belize in foreign currencies, securities and assets owned by persons not a resident in Belize. Belize’s Offshore Banking industry has a high reputation for integrity and fair dealing. Application Procedures: An application for an Offshore Banking License must be submitted to the Central Bank of Belize. For Further Information Contact:

Central Bank of Belize
P.O.Box 852
Belize City
Belize
Tel: +501-223-1694 | Fax: +501- 223-6219
Email: governor@cenbank.gov.bz

Belize is also one of the top (and, importantly, intentionally, under-the-radar) offshore, asset-protection, tax, and banking havens in the world today.

Kathleen Peddicord, Live and Invest Overseas, November 2010

Disclaimer: This data is provided for informational use only and is not intended for legal use. Please obtain appropriate professional advice. Please see Disclaimer on last page.