Offshore Trusts

Offshore Trusts Source image: / CC by 2.0

Belize offshore trust becomes valuable, easy operational, subtle and creative means of asset protection, investment, tax and estate planning providing at the same time full confidentiality.

Main principle of Offshore Trust is to assign assets to a Trustee in an offshore jurisdiction. When the Offshore Trust is set up in Belize, Beneficiaries are exempted from paying local taxes on their incomes or assets of the Trust.

The structure of a Trust is based on three basic elements:

  1. Settlor/Grantor – the creator of the Trust that can be an individual, a corporation or another legal entity. The Settlor creates a Trust by gifting or transferring title of assets which he owns into Trust with instructions that those assets should be held for the subsequent use, benefit and enjoyment of a third party (Beneficiary/s).
  2. Trustee – a person or corporate body appointed by the Settlor to manage Trust with a legal authority (for the profit of the Beneficiary/s)
  3. Beneficiary – a person who receives the benefits from money or property held in the trust.

Benefits of a Belize Offshore Trust:

  • No wealth and inheritance taxes
  • Financial stability
  • Tax reduction and minimization
  • Easy maintenance
  • Confidentiality
  • Excellent asset protection features
  • Ability to minimize or eliminate estate and inheritance taxes due to the death of a Settlor
  • Recognition in main common law jurisdictions

Major information about Belize Trusts

Under the Belize Trust Act a Belize Offshore Trust must be formed either by oral declaration or be written excluding any technical expressions or regulations. Non-charitable Trust can be created for a maximum period of 120 years and a Charitable Trust may be set up for an unlimited duration. There is a minimum requirement of one Trustee for a non-charitable trust and four – for a Charitable Trust.

The Trust Act states that a Belize Offshore Trust may but not obliged to be registered with Registry. However, an offshore Trust must be licensed by a special Commission in order to conduct international financial services.

The information about Trust is kept with the International Financial Services Commission and is strictly protected from public access unless the written permission of the Trustee is given.

Possible assets for a Belize Offshore Trust:

  • life insurance policies issued on the life of the Settlor
  • real property
  • intellectual property
  • investment portfolio
  • money
  • stocks
  • shares
  • inheritance

PRICE LIST for Belize Offshore Trust

ServiceYear 1Year 2Additional ServicesComments
Trust creation US $1000 US $600    
Trustee Fees Included Included    
Certified copy of the Trust Deed Included      
Certificate of Registration Included      
Trust Account
Annual Trust Account     from US $145 Vary on complexity, payment applies annually
Additional Services
Courier Fee     From US $50 Based on pack contain
Certification be the Registered Agent     US $15  
Certification by Notary Public     US $35  
Certification by Apostille (set)     US $85  
Certification by Ministry of Foreign Affairs     US $105  
Certification by Consulate     Varies  
Amendment to structure (single change)     US $105  
Amendment to structure (multiple change)     US $175  

Take the next step, we are here to help.

Register a Belize company.
Open a Belize bank account.

  Resources:

Keeping Europe Up-to-date with the Latest Legal & Financial Technology

Keeping Europe Up-to-date with the Latest Legal & Financial Technology

The financial world is undergoing a technological revolution, with approximately 3 trillion financial deals entered into using digital ledger technology (DLT) and smart contracts within the next five years.

FATCA: Foreign Financial Institutions & NFFE’s

FATCA: Foreign Financial Institutions & NFFE’s

The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, was implemented to able foreign financial Institutions and certain other non-financial foreign entities to report on the foreign assets held by their US-based account holders or be subject to withholding tax on the relevant payments.

ICOs: A Smart Business Decision or Just a Risky Investment?

ICOs: A Smart Business Decision or Just a Risky Investment?

There are many financial experts voicing their concerns over ICOs being too much of a risky investment, however should we be so quick to dismiss ICOs as a legitimate vehicle? ICOs can be used as a substitute for Venture Capital funding due to parallels in the phase of company’s lifespan and risk profiles, which give potential opportunities for future start-ups and companies.

How Initial Coin Offerings Differ from Initial Public Offerings

How Initial Coin Offerings Differ from Initial Public Offerings

Since the hectic and intense ecosphere of the cryptocurrency ventures conception, a new sphere has caught investors’ attention from all over the world, being coined ICOs or Initial Coin Offerings.

Reasons for the Prevalent Misappropriation of Public Funds by Officials in CIS Countries

Reasons for the Prevalent Misappropriation of Public Funds by Officials in CIS Countries

Thorough analysis of the nature, content and determinants of the offence of misappropriation of public funds by officials, it gives grounds to reach the conclusion that a lot of different reasons somehow ‘provoke’ and ‘give the possibility’ to commit this offence.

Notional Interest Deduction: A Useful Tool for Cyprus Companies

Notional Interest Deduction: A Useful Tool for Cyprus Companies

The corporate income tax rate of a Cyprus-resident company is 12.5% on its global taxable revenue, with unilateral credit for related foreign tax suffered. Moreover, non-Cyprus residents are not liable to pay Cyprus withholding taxes on payments. Frequently, the effective corporate tax rate is much lower, or even as low as nil, due to various tax exemptions and allowances.

How Cyprus is Retaining its Competitive Edge as a Favourable EU Jurisdiction for Tax Purposes

How Cyprus is Retaining its Competitive Edge as a Favourable EU Jurisdiction for Tax Purposes

The recent implementation and increasingly stringent tax developments globally can affect companies with offices in different countries; rendering them non-viable if certain factors are not carefully considered.

5 Important Considerations When Starting a New Business

5 Important Considerations When Starting a New Business

According to commercial regulations in many common law jurisdictions, Directors have a duty of care requiring them to act in good faith for the company’s best interest, and using reasonable consideration of all available options before acting.