Belize Offshore Haven
Belize offshore haven is a country situated in Central America. Belize tax haven is the only English speaking country in Central America and is considered to be part of the Caribbean as the Caribbean Sea washes it shores. Belize has an estimated population of 320,000 inhabitants of which a total of ten (10) different cultures can be found namely Creoles, Mestizos, East Indians, Mayans, Garifunas and other groups. Belize presented itself to the world as a tax haven in 1991 and has since then grown into one of the best offshore financial centers available in the Central American region.
The offshore haven of Belize offers offshore services such as the incorporation of Belize International Business companies which are most commonly known as offshore business corporations, Belize offshore trusts and Belize offshore banking amongst other offshore services in the Belize tax haven. The offshore haven of Belize has modern laws which regulates the incorporation of the different offshore entities mentioned above which is one of the reason why Belize has become an attractive offshore tax haven. The government of Belize is keen to see Belize development as an important offshore center therefore supports the offshore sector in the country.
An offshore haven is often described as a country or territory which provides the following for business corporations and clients; privacy, secrecy and tax savings and Belize qualifies as an offshore haven as it is able to provide all three qualities to clients. Belize tax haven is widely used for tax planning by clients around the world who are intent on reducing tax liabilities. As an offshore tax haven, offshore companies incorporated in the jurisdiction of Belize pay no taxes on profits. Belize does not subject incomes earned outside of the tax haven to local forms of taxations it therefore means that Belize corporations pay no local income tax, no capital gains tax, corporate tax or other form of taxes which ordinary or local companies are subjected to. Belize companies must pay a registration fee and annual license fees. Belize offshore trusts receive the same tax treatment for income gained outside of Belize tax haven and these trusts are exempted from stamp duties.
Belize offshore haven provides asset protection for all assets registered in a Belize offshore company. Assets of a Belize offshore company are protected by strict Belize tax haven legislation which makes these assets safe from third parties and rulings of foreign courts. The same type of asset protection is provided for assets placed on Belize offshore trusts. Asset protection is guaranteed by Belize legislation thus protecting the beneficiary owners of companies and beneficiaries to offshore trusts.
Providing privacy is one of the qualities of the offshore haven of Belize. For offshore companies incorporated in the tax haven there is no need to file annual financial statements to the tax authorities. Offshore company legislation in Belize tax haven does not obligate offshore companies to file its financial audits thus making this private. For company registration the names of shareholders and company directors is not made public information therefore the identity of the company owners will not be made public, for further privacy Belize offshore haven also allows for nominee shareholders and nominee directors to be used when incorporating offshore companies. Privacy is also provided for offshore trusts and offshore bank accounts in Belize offshore haven. The names of the beneficiaries of Belize offshore trusts are not made public.
The information in Belize tax haven offshore banks cannot be given out without the consent of the Belize offshore bank account holder. There are strict laws in place which prevents people from divulging information concerning Belize offshore bank accounts, offshore trusts and offshore companies. Failure to follow these regulations will result in monetary fines and prison terms. Information regarding offshore bank accounts, trusts and offshore companies in Belize offshore haven can only be given out if there is enough evidence to prove that one of these offshore entities is implicated in criminal or terrorists activity at which point a court order will be handed out for information to be given out.
The offshore haven of Belize has many advantages which can be derived from incorporating an offshore business entity or setting up a Belize offshore bank account. Belize tax haven offshore banking is provided by many well established banking institutions and the banking services are highly regarded.