Why Choose Belize for Offshore Trusts


Offshore TrustsAttributes  

Benefits of a Belize Offshore Trust

There are many benefits to forming a Belize Offshore Trust:
  • Allows the legal ownership of property to be distinguished and separately vested from the use and enjoyment of the property.
  • It provides Tax Reduction / Minimization.
  • No need for Probate or Court delays on death
  • Asset Protection against vexatious litigation and Spendthrift Beneficiaries.
  • Investment, flexibility and Confidentiality.
  • Retain Financial Stability in anticipation of Political Volatility.
  • Retain control in dealing with forced heirship or exchange control regulations.
  • Preservation of Family Wealth and Continuation of the Family Business.
  • No Forced Heirship provisions
Easy Maintenance
  • There is no requirement to disclose the names of any beneficiary under an Belize Offshore Trust.
  • It does not require annual tax to be paid in respect of a Trust.
  • There is no legal requirement to audit accounts under the Act.

Administration of Trust property in another jurisdiction possible
If the proper law of an Offshore Trust or a severable part thereof is changed from or to the law of Belize to or from the law of another jurisdiction, no provision of the old law shall operate so as to render the Trust or the functions conferred on the Trustee under the new law void, invalid or unlawful.

Confidentiality of an Offshore Trust

The Trustee of an Belize Offshore Trust has a duty of confidentiality. The Trustee of a Trust shall keep confidential all information regarding the state and amount of the Trust property or the conduct of the Trust administration.

At the same time, the Trustee has a duty of full disclosure in respect of the above mentioned sensitive information upon a request in writing by the Supreme Court of Belize, the Settlor or Protector of the Trust, the Supervisory Authority, the Attorney general in the case of a charitable Trust, subject to the terms of the Trust any beneficiary of full age and capacity, and, subject to the terms of the Offshore Trust, any charity for the benefit of which the Offshore Trust was established.

It is of extreme importance that no foreign government or governmental body or agency has any right to inquire into a local Trustee's administration or management of a Trust or for disclosure of any information. They are subject like all others to make an application to our relevant authorities here based on tangible evidence of wrongdoing and not for purposes of "fishing expeditions".

Statute of Elizabeth

Belize is one of the few if not only countries that has immediate protection against proceedings for fraudulent conveyances. There is no period of time that a Belize Offshore Trust must be established for before it cannot be attacked. Such protection is immediate and while it can be set aside for duress, fraud, mistake, undue influence, misrepresentation or incapacity of the Settlor it cannot be set aside even if made for the avoidance of creditors, spouse claims or other such matters.

Belize does not have a Reciprocal Enforcement of Judgments Act with the US that confers rights on a US court to enforce such US Court orders in Belize. Accordingly, such a claimant must reinstitute or duplicate any proceedings in Belize to access any assets held by the Belize Trust or Trustee in Belize. Property provided by a Settlor to an invalid Trust shall, subject to any order of a Belize Court, be held by the Trustee in Trust for the Settlor absolutely, or if he is dead, as if it had formed part of his estate at his death.
An Offshore Trust in Belize does not have any corporate personality.

Investing with a Belize Offshore Trust

Subject to the terms of the Offshore Trust, the proper law of which is the law of Belize, and to the provisions of the Act, a Trustee may invest any money requiring investment in any investment or property of whatsoever nature and wheresoever situated and whether producing income or not and whether involving any liability or not and upon such security if any as the Trustee shall in his absolute discretion think fit as if the Trustee were the absolute owner thereof.

Questions? Contact us for more information about Belize offshore trusts
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