The Belize International Foundations Act was passed in 2010, and is one of the most recent pieces of offshore legislation added to Belize’s products. The foundations act in Belize permits the establishment of three key foundations:
Belize foundations are suitable for use as holding entities, for family, business, or personal purposes, though the function of the Belize foundation is not limited to holding (and distributing) as it can also be used for as an investment vehicle through which revenue generating activity is passively concluded through other offshore entities such as companies.
Belize Foundations Requirements
- Must have a foundation council, with at least one member, where at least one member is a resident of Belize. We offer this services as the registered agent
- Individual or corporate members are permitted. We offer the services of nominee member.
- There are no taxes on Belize foundations.
- There is no requirement for stamp or capital gain tax on foundations in Belize.
- There is no restriction on the accumulation of income on offshore foundations in Belize.
- The Belize foundations cannot involve any property or interest or assets in Belize but the foundation can hold interest in offshore companies or other offshore entities.
- The foundation can be either revocable or irrevocable.
- Belize foundations may own and trade in other shares or open bank accounts.
- 9. The founders can themselves be named as beneficiaries. (Though, when done, the asset protection coverage weakens since the founder reverts to becoming the legal owner of the assets.)
- Must have a registered agent with a local address in Belize.
- Must have a resident secretary. We offer this service as the registered agent.
- The minimum endowment value is US$10, 000.
- The name of the foundation must end in foundation or FDN, or the equivalent in another accepted language.
- Matter for Belize foundations can be settled by arbitration (in private out of court).
- A foundation set up primarily for non charitable purposes, will be considered a charitable foundation as longs as some charitable purpose is served, this means the foundation may benefit from other fiscal savings in country where it operates, as it would be classified as a charitable foundations.
- Before any matter concerning the foundation can be taken before a court the claimant must first put up US50K surety to proceed.
Belize International Foundation — Required Information
Once the draft of the foundation Charter is prepared, the foundation is registered using an extract document that is based on the charter’s contents. While the charter is signed by the founder/s and the founder anyone else may contribute assets to the foundation.
The foundations charter for Belize foundations must contain:
- Name of the foundation
- Name and address of founder
- The purpose of the foundation
- Name and address of registered agent
- Name and address of council member/s
- Initial endowment value
- Provisions for management and administration
Though the actual document registered merely contains the name, the purpose and the registered agent information.
You can only apply to form an international foundation through us online.
We are here to set up an international offshore foundation for you.
Belize Foundation Formation Procedure
Once you select the foundation package of choice, your will be redirected to our online application form. You need to fill the application form completely.
We will check the name availability for your foundation and let you know about the results via e-mail and may require additional information from you and answer your questions if you have any.
When you are ready we will need a copy of an identity document for the Founder. At the same time we will raise an invoice, which you have to pay by the method you choose (We accept Visa and MasterCard; wire transfer; Western Union or Money Gram. We will proceed with the foundation registration after we receive the necessary information and payment.
The process of foundation registration normally takes three working days. You will receive the Charter of foundation and Certificate of Registration by courier post. The delivery time varies upon your location.