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Belize IBC

Belize Foundation - All Inclusive Packages From - 1060 UK £ - 1370 - 1590 USD $

Belize Foundation Establishment/Structure

Belize Foundations may be formed by one or more natural or legal persons, with an initial property endowment of US$10,000 (which does not have to be paid up).

Applicable laws of Belize Foundation

The active law for this entity is the Belize International Foundation Act 2010

Requirements for the Establishment of an Belize Private Foundation

The "Foundation Charter" is the official document required to formally register a Belize foundation and this document must contain the following information.

The name of the foundation;

The initial property endowment (with a certified confirmation from the registered agent);

The name and addresses of the founder(s);

The full names and addresses of the foundation council member(s) (may be nominee members);

The name and address of the registered agent (mandatory);

The name and address of the secretary if any is appointed;

The name and the address of the guardian if any is appointed;

The purpose of the foundation;

Provisions (if any) for the designation of beneficiaries;

And any other provisions which apply to the management of the foundation.

Purpose of Belize Private Interest Foundation

Offshore foundations may be established for any legitimate, ethical purpose. Generally, they are used for asset holding, asset management (family, business), for philanthropic or charitable activity. Belize foundations are not allowed to engage in any commercial activity in that country and may not conduct any financial services business unless it licensed to do so. As the foundation acquires the status of a legal personality upon registration, it is legally a separate and independent person in its own right and as a result it can conduct business, enter into contracts, open bank accounts.

Language of Belize Foundation Establishment

The Foundation Charter may be written in any language, but if it is written in a language other than English it must be accompanied by a certified English translation.

Belize Foundation Bylaws

By-laws may be adopted by offshore Foundations and may include information that pertains to: endowment distributions, naming of beneficiaries, management guidelines, policies or procedures and any other lawful matter relating to the purpose and operations of the Belize foundation.

Belize Foundations Name

The name of the Belize offshore foundation MUST end with the word Foundation, Found. Or Fdn. The name cannot contain the words: royal, chartered or names connected with Belize government.

Administrative Requirements of Belize Private Interest Foundation.

Belize Foundations must at all times:

  • Have a registered (and regulated) agent in Belize
  • Have a foundation Council
    • This may be one or more persons, individuals or corporate entities, where at least one of the members is a Belize resident, this is a service provided by us.
    • The duties of the foundation council will be set forth in either the Foundation Charter or in its by-laws;
    • Nominee foundation council members are permitted.

Meeting of Belize Foundation

The foundation council shall conduct meetings at such times and in such manner and places within or outside Belize as it may determine.

Belize Foundation Secretary

Every Belize Foundation must have a resident secretary if none of the council members is a regulated Belize resident. This secretary must be regulated and that post may be held by the registered agent of the foundation. The secretary cannot be the sole council member.

Belize Foundations Registers

The Foundation register should contain identification particulars on the councilís members and its secretary. This register must be kept at the registered address at all times. Registered address services are provided by us, a regulated registered agent.

Belize Private Foundation Accounts and Records

A foundation shall keep accounts and records that are deemed necessary by its council in order to reflect its financial position; the applies foe copies of the Charter, by-laws, amendments, resolutions and minutes. These documents may be kept at the registered address of the foundation or can be held elsewhere provided the location is known by the registered agent.

These documents may be kept at the registered address of the foundation or can be held elsewhere provided the location is known by the registered agent.

Belize Private Interest Foundation Taxes

A foundation in Belize formed as an offshore foundation shall be exempt from ALL taxes on condition that: the founder, the beneficiaries, the property or assets, contributions to foundation originate outside of Belize. All taxes including: income tax, asset tax, gift tax, capital gains tax, distributions tax, inheritance tax, estate duty tax, as well as stamp duties.

The Belize Foundation is exempt from all taxes including: income tax, asset tax, gift tax, capital gains tax, distributions tax, inheritance tax, estate duty tax, as well as stamp duties.

Optional Features of the Belize Foundations

Belize Foundation Appointment of a Protector

The foundation charter may grant the appointment of a protector, which can be one or more persons or a legal entity. The duties, rights and powers of the protector are specified in the Foundation Charter or the by-laws. The protector is appointed by the founder or any other person empowered to do so under the charter. Changes can be made to the Declaration of establishment.

Advantages of Belize Foundations:

When a person, individual or corporate contributes assets to a foundations endowment, that property ceases to be assets of such person. The new legal owner of the endowment is the foundations. For this reason the assets are protected from seizures or settlements involving the original owner.

Key Feature of Belize Private Interest Foundation:

Belize foundations can (if desired) settle disputes in arbitration rather than through the local court system.

Members of the foundation have no personal ownership or title to the endowment and by extension creditors of the members have no claim to the endowment;

Foundations conducting any amount of charitable work, no matter how miniscule are categorised as charitable, and subject o further tax savings in some jurisdictions;

Anyone making claims against a Belize foundation must first pay up a deposit of US$50,000 to pursue the matter.

Belize foundations may be re-domiciled out of Belize, and permits the domiciliation of non Belize foundations into Belize.

The package for foundation will include a Certificate of registration, Certificate of Good Standing, the Foundation Charter and By laws if any. If nominee services are used, the necessary documents, Power of Attorney will be provided in the package.

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