BELIZE TAX SHELTER
Belize tax haven. Benefits of forming a Belize IBC in Belize tax haven
KGN Services specializes in Belize Company Registration and opening of offshore bank accounts.
About Belize tax havens
Belize is a small multicultural Caribbean country on the eastern coast of Central America. Belize is bordered to the north by Mexico, to the west and south by Guatemala, and to the east by the Caribbean Sea. The geographic area of Belize was once the site of several Mayan cities for thousands of years. These Mayan ruins, including the country’s coastal beauty, make Belize a very popular tourist destination. In addition to tourism, oil, sugar and fruits are the country’s major exports, which help keep the economy stable and make Belize a tax haven option.
An offshore company is a company owned by a non-resident person and an offshore bank account, as well. Setting up and maintaining a Belize IBC (International Business Company) and bank account is very simple and straightforward. It was meant to be that simple because the government of Belize has worked very hard to make the country a very interesting offshore destination for the savvy investor. When you consider the benefits of owning an offshore company and bank account in the Belize Tax Haven, you will find that this small Caribbean country really is the perfect tax haven you are looking for. A Belize IBC is 100% free from taxation on the grounds that all the businesses it operates are outside of Belize. This means that a Belize IBC cannot operate inside Belize, but is free and fully supported by the government to operate in the rest of the world.
Purpose of Belize IBC
The purposes of starting and maintaining a Belize IBC are many. The main reason is to take advantage of different international laws in different countries, because although a process may not be possible in one country, it is often possible in another country. Belize IBCs help individuals protect their wealth from lawsuits and divorce settlement issues by either transferring assets to an offshore company or by directly transferring money to an offshore account.
This puts assets or funds beyond the reach of greedy lawyers and ex-spouses. A Belize IBC can also help reduce, defer or completely avoid taxes for international companies or other suitable businesses that trade across borders such as internet businesses and import and export businesses. Belize tax havens are among the best of the best when it comes to taking advantage of international laws for asset protection and tax optimization, so let’s take a closer look at this amazing little country.
The benefits of Belize tax shelters
Belize’s system of government makes it a stable country well-suited to sustaining offshore businesses. Belize has been independent from Great Britain since 1981 and is a recognized and accepted member of many international organizations such as the Commonwealth, the United Nations and the Organization of American States. Like other Commonwealth countries, which include Canada, Australia, Jamaica and New Zealand, Queen Elizabeth II remains Belize’s head of state, while a prime minister serves as the head of the Belizean government. The stability of the government is therefore guaranteed.
A Belize IBC is exempt from local taxes, including income tax, capital gains tax, dividend tax and stamp duty on the transfer of company shares or any other form of property. This simply means that the government of Belize does not require tax of any kind from any company registered as an international company in the Belize tax haven. The only payment a Belize IBC makes to the government is the annual business license renewal fee, which is either $100 for an authorized capital of the Belize IBC up to $50,000, or the fee is $1,000 for capital over $50,000.
No annual reports
Belize IBCs and other types of offshore companies in the Belize Tax Haven are not required to file any financial or tax records, although a law passed in 2013 requires all Belize IBCs to keep accounts and physically maintain them either in Belize or in another country. This rather comical situation further cements the beauty of the Belize tax haven, because like any respectable company keeping a Belize IBC accounts, the catch is simply that the government never asks you about it.
Other advantages that further make the Belize tax haven more attractive are the lack of currency regulations for Belize IBCs, a well-developed financial sector, including important infrastructural developments in areas such as communications, which are necessary for the modern business environment. There are also the commercial free zones and the export processing zones. These zones are huge attractions for investors engaged in the international movement of physical goods. The reason is that the Belize Tax Haven is strategically located near the NAFTA trade zone with Mexico bordering it to the north. Companies in the commercial free zones get a 10-year tax holiday and later pay income tax between 2% and 8%. Companies in the export processing zones are first approved by the government. If they receive EPZ status, they can then operate freely in the zone, completely tax-free.
Who can benefit from a Bahamas tax haven?
There are many different types of people who will greatly benefit from creating a Belize IBC. Owners of international companies can take advantage of the Belize tax haven by moving their parent company to the Belize Tax Haven as an IBC, this way a manufacturer will no longer have to pay local taxes every time its foreign subsidiary sells a product to a company in another Country. International business laws in some countries are quite harsh, but a Belize IBC can solve all that. Any individual with sufficient assets can also benefit from a Belize IBC by transferring his assets from his natural person to a legal entity such as an International Business Company in Belize. This way, when you are sued for any reason at all, where damages are usually required, you can relax completely knowing that your fortune is out of reach. This is especially true of gold diggers who will sue for damages at the slightest chance they get, and of ex-spouses who carry out their vendettas by focusing on profiting from divorce settlements.
The benefits of forming an IBC in Belize tax haven
A Belize IBC will help you minimize or defer taxes or even avoid them altogether. The important thing here is that tax deferral or avoidance by using an offshore company is perfectly legal as long as no laws are broken.
Protection of wealth
Forming a Belize IBC will allow any person to avoid liability issues such as lawsuits requiring financial settlements or to avoid expensive divorce settlements. Having your assets in an offshore location can also provide some protection against disasters like war and other unpredictable circumstances, especially for high net worth individuals from financially or politically unstable companies.
With a Belize IBC, your company is exempt from all kinds of local taxes. You don’t pay income tax, corporation tax, capital gains tax, nothing.
The government of Belize has adequate anti-confiscation provisions that will legally protect your assets that you have allocated to your Belize IBC.
No reports and privacy
There are no annual reports, no tax papers to file, nothing. There is also no public information about the company’s owner, just as there is no public information about its finances either. The government of Belize guarantees 100% privacy for Belize IBC owners with its refusal to join international information sharing agreements.
Belize tax havens offer the most flexible form of business ownership and management with the Belize IBC. The company can only have one or more shareholders. There is no minimum amount of share capital, in fact the company could have zero share capital. A Belize IBC may be owned in whole or in part by another Belize IBC. Shareholders can also hold their meetings in the country they choose.
With a Belize IBC, you can avoid inheritance tax entirely by transferring the asset to be inherited to the IBC and then simply passing on shares in the company to the recipient.
The offshore business account in Belize tax haven and its benefits The economic climate in Belize tax haven is quite good. With a Belize IBC, you are free to open a Belize business account with any bank and enjoy the benefits that come with it. Your company does not even need to be doing business for you to open a business account with a Belizean bank. Also, any money that goes into the company’s bank account is no longer directly linked to you. It belongs to a company that belongs to you and that no government or lawyer or any other person can access.
Belize IBC Formation Fees
Belize IBC Formation Package includes:
- Check company name
- Initial business approval
- Preparation of application documents
- Company registration fee
- Certificate of Incorporation
- Registered office address for 1 year
- Registered agent service for 1 year
- State application fee
- Memorandum & articles of association
- Minutes from the first meeting with the appointment of director(s)
- Share certificate(s)
- Register of shareholders
- Register of directors
Why choose KGN Services?
We have been helping business owners since 1996
Incorporating your company is our focus
We make a complex process quick and easy
We work closely with business registries to guarantee our service
Fastest Offshore Companies and Accounts – Most Competitive Rates Worldwide
Services in Belize tax haven
KGN Services provides the following services in the Belize tax haven:
- Belize IBC Formation
- Registered office and agent services
- Company Secretary Services in Belize
- Nominated shareholder / Nominated director
- Opening bank accounts
- Full Belize Company Administration Services
- Postal address in Belize
- Virtual office in Belize
- Trademark registration
- Yacht registration
Belize – General Information
Location: Central America, bordering the Caribbean Sea, between Guatemala and Mexico.
Area: total: 22,966 square kilometers; land: 22,806 square kilometers ; water: 160 km2. …
Natural resources : Arable land potential, timber, fish, hydropower.
Population: 360,346 (July 2017 est.).
Capital: Belmopan 23,000 (2018).
Time zone: CST (UTC−6).
Languages: English (official), Spanish, Creole, Mayan.
Government type: Parliamentary democracy (National Assembly) under a constitutional monarchy; a Commonwealth realm.
Legal system : English common law.
International organization participation : ACP, AOSIS, C, Caricom, CD, CDB, CELAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC (NGOs), ICRM, IDA, IFAD, IFC, IFRCS, ILO , IMF , IMO, Interpol, IOC, IOM, ITU, LAES, MIGA, NAM, OAS, OPANAL, OPCW, PCA, Petrocaribe, SICA, UN, UNCTAD, UNESCO, UNIDO, UPU, WCO, WHO, WIPO, WMO, WTO .
Economy : Tourism is the biggest foreign exchange earner in this small economy, followed by exports of sugar, bananas, citrus, seafood and crude oil.
Currency: Belize dollar (BZD).
KGN Services | Belize tax haven | Belize IBC