Offshore Companies

Article provided by Belize Offshore Consultants Inc.

By virtue of the 1990 International Business Companies Act, Belize officially established itself as one of the leading offshore jurisdictions worldwide, incorporating the most secure features of offshore instruments extant in traditional jurisdictions such as Hong Kong, Panama and Cayman. Along with the companion Trust Act, the Belize IBC Act is recognised as the most modern and attractive legislation of its kind in the Caribbean, and is specifically designed to meet the needs of the global investor.

The key features of the the Act are as follows:

• Completely Tax-Free - No income tax, stamp duty, estate taxes, capital gains or withholding tax.

• Having Only One Shareholder/Subscriber Permitted

• Share May Be Held By Corporations Or Trusts

• A Single Director Allowed Which May Be A Corporation Or Trust

• An IBC's register of Shareholders is available for inspection only by shareholders or by order of the Belize Courts at the request of a shareholder.

• Non-Disclosure Of Beneficial Owners

• Bearer Shares Permitted - Shares may be issued without par value.

• IBC's can be used for financial management, investment holding, ship or property ownership, share ownership of other companies, leasing of assets, copyrighting and/or licensing as well as general commercial trading.

• No exchange control.

• Private Label Company availability.

• Low Fees For Setup And Renewal

• No Statutory Accounting Or Auditing Records Need To Be Filed In Belize.

• No Minimum Capital Requirements

Minimal Restrictions:

• Cannot Carry On Business With Residents Of Belize

• Cannot Own Real Estate In Belize

• Cannot Operate As A Bank Or An Insurance Company unless an Offshore Banking License is granted.

• Cannot Provide Registered Office Or Serve As Registered Agent

• An IBC must maintain a Registered Agent and a Registered Office in Belize.

Next page: Offshore Trusts

Article provided by Belize Offshore Consultants Inc.