Setting-up a trust in Belize: here at Coddan Ltd, we can help you with any aspect of registering a trust in Belize. There are a number of reasons it will benefit you to register a trust in Belize, so read on to find out more if you're considering going ahead. Our range of trusts establishment in Belize services: our comprehensive list of services we provide includes a nominee administrator service, nominee trustee service, registered agent services, registered office services, management and administrative services, bookkeeping and accounting services, and apostille and notary legalisation services.
Here at Coddan Ltd, we are happy to discuss any aspects of setting-up a trust in Belize, or a company formation, and help you every step of the way. Contact us today to find out how easy it is to start-up a trust in Belize - our expert consultants are on hand to discuss all your requirements.
NEXT YEAR FROM £900.00
The first option of the trust start-up in Belize is the fastest process with online offshore trust start-up, and printed documents as well.
The following benefits are included into this setting-up of an offshore trust in Belize package:
NEXT YEAR FROM £1,500
This trust start-up in Belize package is especially for clients, who are requiring setting-up an offshore trust with a registered address, local agent & a nominee trustee; bank account upon request.
This Belizean trust set-up offer includes everything in the first option, together with the advantages of:
NEXT YEAR FROM £1,500
This is one of the most popular trust start-up in Belize packages with offshore bank account, as an additional option to the nominee trustee & registered office address in Belize.
This Belizean trust setting-up offer includes the following:
NEXT YEAR FROM £1,500
This is our most comprehensive trust set-up in Belize package with all documents verified by solicitor or notary public & certified by the apostilled stamp or apostille seal affixed.
This Belizean trust set-up offer includes everything in the third option, plus:
Start-up a trust in Belize: a relative newcomer in international financial services, Belize, an English-speaking country in Central America, has been diversifying its economy since gaining its independence from Britain in 1981. Its prominence in the business world began in earnest in 1990, when the Companies Act was passed.
A location with a history of stability: Belize is an increasingly popular location for off-shore companies. A major factor influencing this boom is its history of political stability and its continued stable government today. Excellent telecommunications and transport links: Belize is an ideal location, being English-speaking and boasting excellent telecommunications, services and transport links. It is also a thriving holiday destination, and has an international airport.
Establish a trust in Belize - settlor, beneficiaries and trustees can be of any nationality: should you wish to send out your current business staff to Belize to oversee the launch, you will legally be able to do so. Coddan Ltd can ease the transition of setting-up a trust in Belize, making you the owner of an established trust registered in Belize, with your existing representatives there from the outset.
Ease of handling your capital: if you set-up your trust in Belize, there is no minimum paid-up investment requirement. In addition, any investment you pay up can be in any currency. This makes it vastly more convenient for you. Pay zero tax on your income: the passing of the Trust Act enabled guarantees of confidentiality and many other specific privileges for trusts. A trust pays no tax on its income in Belize, operates without currency restrictions and is not required to appoint an in-country trustee.
Our expert team at Coddan can help you to start-up your trust in Belize, making sure that all the proper documents are provided and the correct procedure is followed. Under current law, to set-up a trust in Belize, you need to produce a copy of the trust instrument, and pay a registration fee.
Only then can you enjoy the benefits of setting-up a trust in Belize, which include better protection of your assets, managing your estate and taxes more efficiently, and anonymity. Our experienced consultants have in-depth knowledge of the Belize jurisdiction and can take care of all the necessary paperwork to establish the trust on your behalf. Call us today for more information.
When setting up an offshore trust, Belize is often a popular location since the process of establishing the trust is relatively straightforward. Belize is situated in Central America and the language spoken there is English. In fact, it only became independent from the UK in 1981.
Why set up a trust in Belize?
The conditions for both tax planning and asset protection in Belize are favourable in comparison to other countries. The law in relation to trusts is modern and supports financial services internationally. This is because it has only relatively recently become involved in this sector.
In Belize you can set-up a trust that will both secure your own wealth and provide financial security for your family in the future. Additionally, you don’t need a minimum amount to set up a trust in Belize and there is no allowance for people to claim inheritance tax from property held in trust in Belize.
Requirements for the formation of a trust: a trust can only be effective in Belize if there is a trustee, beneficiary, settlor and protector. If the trust is in favour of a charity, there needs to be at least four trustees. In any other trust, there only needs to be one trustee.
Roles of the parties: a trustee always need to be an adult who has full capacity. They are responsible for the administration of the trust on behalf of the beneficiaries. The Role of the settlor is in the creation of the trust and the transfer of assets into it. The protector is responsible for monitoring the trust, ensuring that the trustees comply with the deed of trust and manage it satisfactorily.
Other legal requirements: according to the law of the country, every trust that is governed under the law of Belize needs to have an agent who lives in Belize. The information required is relatively limited, which is one of the reasons why so many people set up a trust there.
If you're considering setting up an offshore trust and wondering where to register it, Belize has much to offer and with expert help from the experienced team at Coddan, you can have all the documentation completed in a matter of days. Once that’s in place, you can begin to enjoy the benefits of registering your offshore trust in this part of the world.
Protect your assets: asset protection and effective tax and estate planning are two key advantages of having your trust registered in Belize.
Thanks to the modern trust law in this jurisdiction, your assets will be protected from any potential future claims from creditors, as well as any court orders made against your assets through bankruptcy action, or as a result of divorce proceedings.
The tax benefits from registering your trust in Belize include exemptions from business and income tax, and also inheritance, gift and succession tax. Furthermore, all transactions carried out by a trustee on behalf of the registered trust will also be exempt from paying stamp duty.
Anonymity and longevity: anonymity is another reason that many choose to register their offshore trust in Belize.
Once an application is made to the Register, the proper documents are lodged and signed off, and the relevant fee is paid, information about the trust is fully protected. The only way an outside party can view any details about the trust is if they have the clear, written consent of the trustee.
Under Belize jurisdiction, the trust can be set up for a maximum period of 120 years, which means you can effectively secure your assets and wealth for the long term, and also provide for your dependents.
There is no minimum amount of capital required to register a trust in Belize, and foreign ownership is welcomed. Other benefits of registering your trust here mean you can transfer assets and estate without tax implications, and also avoid forced heirship.
One of the main advantages of starting up a company or trust offshore is that it is subject to the legislation of that country. In Belize, international financial trading is a relatively recent thing; the government wanted to encourage it to bring a new business market into the country.
Because of this, they were very careful when drafting the relevant legislation, borrowing the best bits from the legislature of other countries including the Cayman Islands and Hong Kong.
The relevant legislation is the International Business Companies (IBC) Act 1990. Here are a few of the advantages of starting a trust in Belize instead of elsewhere in the world.
1. Cost to establish a trust in Belize: when the trust was drafted, the idea was that starting and maintaining a trust in the country would be low cost. They wanted the fees to be able to compete with other jurisdictions and they remain very competitive to this day. With a Coddan basic package, you can start up a trust in Belize for just £2,500 including the fee payable to Belize.
2. Time to create a trust in Belize: setting up in Belize takes only two days. You will then receive your certificate of registration, and trust deed by post.
3. Capital to set-up a trust in Belize: to start up a trust in Belize, there is no minimum requirement for capital paid up front. Whatever capital you do decide to pay is payable in any currency.
4. Ease to form a trust in Belize: there is no requirement for settlor, trustees or beneficiary owner to be of any particular nationality. The settlor and beneficiary owner may also be the same person if you wish. This means that if you want to go to or send someone to Belize to assist with the set-up, you are legally entitled to do so. It is an English speaking country that is easy to both get to and communicate with.
5. Security: the country has a stable government so you have no need to worry about political issues posing a risk to your capital or your trust.
6. Autonomy and confidentiality: as you can choose whoever you want as directors and shareholders, you can have true autonomy over a company in Belize.
In terms of asset protection, the laws that govern offshore trusts in Belize are considered to be among the most advantageous in the world. Establishing a Belize offshore trust on behalf of a client is a straightforward matter for Coddan's expert team, but there are a number of legal requirements that need to be fulfilled.
As trust registered agent, Coddan will first ensure that the proposed trust meets the qualification criteria. Neither the settlor, who is the person transferring assets to the trust, or any of the beneficiaries of the trust can be a Belize resident.
Nor can any property included in the trust be located anywhere in Belize. If the trust is a purpose trust then that purpose cannot be sought, or carried out, in Belize.
The trust must be created, and maintained, under the Belize legal rules. This means a written application must be correctly filed then registered with the Belize Register of International Trusts in order for a certificate of registration to be issued.
The registry will register and maintain records which state the name of the trust, the date of its registration and the date of its settlement. The records will also disclose the name of the trustee as well as the name and address of the trust agent.
If there is a protector, a person the settlor has chosen to supervise the trustee's control of the assets, then he or she will be named too.
The Register of International Trusts in Belize does not ask for information regarding the settlor of the trust, its beneficiaries, its assets or its purpose. In fact, the registry does not even require the trust deed itself to be filed.
However, Coddan is legally obliged to confidentially hold the trust deed and any amendments that are later made to it. Coddan will also need to file the following details: the name of the settlor; the name and address of any beneficiaries; the assets originally transferred to the trust and any assets later transferred.
Belize is a highly attractive territory to base an offshore trust. This is thanks to its near impenetrable anonymity, and what is generally considered to be one of the finest asset protection legislations in the world because of a system that is largely based on the Guernsey Trusts Law of 1989.
If you want to take full advantage of this spectacular tax haven, get in touch with Coddan Ltd today.
A Belize International Company and a trust are often used in conjunction with each other, with a trust holding shares in the IBC to create a secondary layer of anonymity and legal protection.
As with the UK a settlor transfers assets to the trust, which has a trustee in charge and a beneficiary that stands to receive the assets and income. The trust is a separate and distinct legal entity, so assets are legally separated from the settlor and beneficiary, held within the trust and protected from any legal claim against any individual.
The trustee can be nominated, as with a UK trust, and many choose to do so simply for the extra degree of anonymity and the convenience. The trustee can be a locally appointed individual and they are not legally allowed to use the trust’s funds or assets for their own purposes.
A protector can be appointed separately to oversee the work of the trustee and to make sure there is no abuse of power on behalf of the trustee. It’s an additional layer of protection that many foreign nationals choose to employ as even with a solid banking system, there are inevitable concerns about keeping money and assets in trust so far away from home. This extra pair of eyes can provide peace of mind.
At Coddan, we offer an extensive range of post-registration services for anyone who has completed the formal registration of their trust in Belize. The laws covering local statutory and reporting requirements vary depending on the jurisdiction the trust is registered in and staying on top of everything can be fairly onerous, especially if you don't appreciate how things work in a particular part of the world.
This is where our experience of post-registration maintenance of trusts set up in Belize comes in. We've been operating in this area for a number of years and have an excellent network of contacts in Belize. We understand how things work there, and provide a range of post-registration services to support your offshore business in Belize.
Our range of services: our comprehensive list of services we provide includes a nominee administrator service, nominee trustee service, registered agent services, registered office services, management and administrative services, bookkeeping and accounting services, and apostille and notary legalisation services.
Going forward, we can also arrange for investment and commercial banking introductions. In short, we can take care of all the ongoing maintenance an efficiently run trust requires to meet local requirements, leaving you to concentrate on the real business of growing your enterprise.
Tailored to meet your needs: the kind of post-registration service you require will vary depending on the structure of the trust you have set up in Belize, and the amount of trust–related transactions there are over a given period.
As well as the statutory reporting already mentioned, you may also want help in other areas, such as the registration of offshore shipping vessels, banking of all funds received to the trust, dealing with correspondence related to trust business, and liaising with specialist advisors on behalf of the trust. Whatever it takes, the team at Coddan can help your trust thrive in Belize.
Belize is established as one of the leading offshore locations in the world for a trust, a status gained as a result of the 1990 International Business Companies Act. This incorporated the most secure features of offshore trusts found in more traditional locations, such as Hong Kong and Panama.
Added to this, the Belize Trust Act, one of the most innovative pieces of legislation of its kind in the region, is specifically designed to meet the needs of the global investor. The law relating to establishing a trust in Belize was designed to offer low start-up and maintenance costs, enabling it to be competitive with other offshore locations. It is broadly based on the Guernsey Trusts Law of 1989, but with some modifications.
With no minimum capital requirements, there's no need for audited accounts and there are no annual returns. There's also no requirement for an annual general meeting, nor for a local trustees.
Subsequently, the annual running costs for a trust in Belize are relatively low. A trust registered in Belize must conduct its profit-earning activities outside the country, but can lease local office space.
All offshore trusts registered in Belize must pay an annual renewal fee to the Belize government. The annual renewal fee is a fixed amount, starting from the second calendar year after the registration, due before 31st July each year.
It's normally payable at the same amount as the first-year government fee for incorporation. In addition, annual service fees must be paid for the registered agent and address services. Offshore trusts formed under Belize law are exceptionally secure, with none ever having been compromised. Here at Coddan, we offer a diverse range of post-registration services for anyone who has registered their trust in Belize.
We have been operating in Belize for a number of years and our experience of post-registration maintenance of trusts is extensive. We have an excellent network of local contacts and understand how things work there, providing a range of support for your offshore business in Belize.