Investments made smartly can reap higher profits as compared to ones made without analyzing. Offshore investments have been a growing platform for international investors and business owners as they are exposed to multiple benefits.
Today, numerous tax-havens in the world offer a wide range of business services and a flexible business environment.
One such booming offshore business destination is Belize, a port located in the Central American Country is one of the most widely opted among the popular offshore business jurisdictions.
The zone of Belize offers terrific benefits to business investors when it comes to the incorporation of an offshore company. One of the widely chosen options preferred by the investors is an International Trust Company.
Belize International Trust Company
Foreigners have the flexibility to Belize trusts, which they can control from any part of the world.
According to the legal regulations, the law governing international trusts began with the Trusts Act of 1992, and which was implemented in the Belize Trusts Act in 2007.
A trust company, when it gets blended with the International Business Company (IBC), is one of the most reliable asset protection vehicles in the world.
When a Belize trust company holds the shares of an IBC, this adds on extra privacy and confidentiality.
The uses of a Belizean International Trust Company includes the following:
- Protect the assets
- The holding of stocks and bonds
- Holding any title
- Minimize tax to a great extent
- Retirement Planning
Opening an offshore company in Belize is widely preferred by global investors as they can enjoy huge tax benefits.
The framework of a Belize International Trust Company
The framework of a Belize International Trust Company comprises the following:
- The settlor: The settlor stands as a natural person that creates trust by placing assets.
- Trustee: A trustee is a person who maintains total control over the trust assets. A trustee has to follow the instructions given by the settlor.
- Trust Agent: While proceeding with an agent, the following credentials are to be provided:
- Trust’s name
- The settlement date of the trust
- Registration date of the trust
- Trustee’s name
- Settlor’s name
- Protector’s name
- Beneficiaries’ name and address
- Initial funds and assets
- Additional assets
- Change in beneficiaries
- Change in protector
- Trust deed
- Beneficiaries: The beneficiaries act as a Third-party who is eligible to provide benefits and profits held by the Trustee.
- Protector: This is an option that a settlor holds, who is ideally appointed to supervise the Trustee. Including a protector adds an extra layer of protection, which can be a relative, advisor, or friend of the Settlor.
- Trust Deed: This is an agreement that outlines the duties of the trustees, beneficiaries’ names, and the trust assets.
Types of Belize Offshore Trust Company
As per the legal guidelines, there are different types of Belize Offshore Trust Company, which includes:
- Charitable Trusts
- On-Charitable Trusts
- Unit Trusts
- Land Trusts
Benefits of Holding a Belize International Trust Company
Business owners and investor, find it to be a preferable move to proceed with Belize IBC are:
- High-end asset protection
- Protection from fraudulent conveyance
- Belize is a reputed tax-haven jurisdiction
- Complete exemption of tax from the Belizean government
- Any change of shareholders or directors needs not to be filed with the registrars
- The business meetings can be conducted anywhere in the world
- No business and director licenses are required
- No restrictions on the citizenship of the shareholders
- No currency restrictions
- The company can buy back the shares from the shareholders
Opening an International Trust Company in Belize can be a smart option that you can proceed ahead to fetch higher returns. Investing in the offshore industry will not only help you to deep your pockets but also would provide you an assurance of investment security.