Belizean trusts start-up vs other offshore jurisdictions: one of the main advantages of starting up a 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 start up 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 Formations Agency basic package, you can start up a trust in Belize for just £1,900 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.