The Belize International Foundation
The Belize International Foundation provides powerful asset protection and can exist indefinitely. Foundations are separate and independent legal entities that are widely-recognized in civil law jurisdictions and are also well-known in common law jurisdictions. Foundations can be established for any purposes—charitable or otherwise--which are capable of fulfillment, and are not unlawful, immoral, or contrary to public policy. Foundations are completely free from all taxes and duties in Belize and are also free from currency exchange limitations.
The Belize International Foundations Act is a flexible legislation that includes aspects of foundation legislation found in the various jurisdictions. The provisions made in the Belize law make the Belize jurisdiction and Belize international foundation’s asset protection features more powerful. Provisions are made for disregarding foreign law concerning the validity of a foundation or the disposition of property to a foundation which is valid under the laws of Belize, thereby providing asset protection against creditor claims in respect of assets transferred to the foundation without intent to defraud. Provisions are also made for anti-alienation of the foundation endowment as well as the reduction of the limitation period within which to bring actions in relation to the foundation.
Foundations in Belize must be registered with the Registrar to be valid and enforceable; however, registration involves the submission of only limited information and does not include the submission of the foundation charter but rather only the particulars thereof. Every foundation governed by Belize law shall at all times have a registered agent in Belize and at least one member of the foundation council shall at all times be a resident of Belize or a registered agent.
The Belize International Foundations Act makes provisions for substantial security for costs in respect of claims brought against international foundations. This is an attractive feature that discourages frivolous lawsuits.
Foundation council members are answerable only to the foundation.