Belize is a popular choice to form an offshore trust as it offers favorable asset protection and tax planning conditions. Starting Business can assist you every step of the way in forming your Belize trust whether you are an individual, group or corporate entity and our dedicated consultants will provide guidance on drafting the trust deed and managing the trust in accordance with trust laws. Starting Business is highly experienced in finding you the most optimal offshore trust solution to meet your asset protection and tax planning needs.
For a Belize trust to be established under the Trust Act 2010, it can be created only by “written instrument”. Under the country’s trust legislation’s, a Belize trust can be moved from the Belize jurisdiction to another and vice versa. Where this applies, Belize legislation would not regulate the trust if that trust has moved to another country, despite it originating and being established in Belize. There is a requirement for a minimum of one trustee for a Belize trust and a minimum of 4 trustees if the trust is established for charitable purposes. It is also essential that the nominated trustees act in good will and in the best interests of the trusts beneficiaries.
For a Belize trust to come into effect if must execute all of the following components; a settlor, trustee, beneficiaries and a protector. The settlor creates the trust and then transfers the assets into the trust entity. The trustee is a nominated individual who has the responsibility of administrating the trust and the administrating the trust deed for the benefit of the beneficiaries (the person or group of people who benefit directly from the trust. The trustee must be an adult of sound mind and have due diligence when administering the trust declaration. The protector monitors the trust to ensure compliance with the trust deed and to ensure the trust is managed in a satisfactory manner.
There are a number of reasons to create an offshore Belize trust, however the primary reasons are often to take advantage of the favorable asset protection and tax planning conditions Belize offers. Additional reasons why Belize trusts are created include but are not limited to:
Starting Business are fully equipped to draw on international resources in order to establish your Belize trust in a timely, professional and cost effective manner. Our professional consultants are experienced in all areas of Belize trust law and can advise you on how to setup and manage your trust in compliance with the relevant Trust Act 2010. From assisting you in filling out and submitting the initial application forms to advising you on the most suitable type of trust to set up to meet your needs, we can advise you throughout the entire Belize trust set up process.
For more information on Belize trusts and to proceed with opening one with Starting Business, please view our Belize Trust Formation page.
Alternatively, to find out how Starting Business can assist you with your trust needs, please Contact Us.