Under the Belize Trust Act of 2000, three types of offshore trusts can be established by an individual or individuals:
- Charitable trust
- Non-charitable or purpose trusts or
- Spendthrift trusts.
In general the purpose of the specific trust is determined by the person establishing the trust (known as the settlor) but normally is for asset protection, estate planning, spendthrift protection, investment purposes or charitable purposes. The Belize trust can be a revocable or an irrevocable trust. In a revocable trust the content may be change, amended or altered.
Belize Trust Requirements:
- There is no requirement to name the Beneficiary of a Belize trust.
- A minimum of one (1) trustee is needed to set up a Belize trust.
- There are no taxes on international trusts registered in Belize.
- There is no requirement for stamp or capital gain tax on offshore trust in Belize.
- There is no restriction on the accumulation of income on offshore trust in Belize.
- Offshore trust cannot involve any property or interest or assets in Belize, but the Belize trust can hold interest in Belize offshore companies or other offshore entities.
- Belize trust can be either revocable or irrevocable offshore trusts.
- Belize offshore trust may own and trade in other shares or open bank accounts.
- The trust or the transfer or disposition by a person creating an international trust cannot be invalidated by any foreign rule of forced heir ship.
- The settlors or trustees can themselves be named as beneficiaries under the trust. (Though the asset protection coverage weakens since the settlor reverts to becoming the legal owner of the assets.)
- Belize trust has a life of 120 years.
- Confidentiality is maintained. Any disclosure is prohibited by law, except under an injunction of the Belize Courts upon an application only for the purpose of an inquiry or trial relating to drug and arms trafficking or money laundering.
- The trust must have a registered agent with a local address in Belize.
Belize Trust — Necessary Information
Once the trust deed is prepared by the settlor/s the trust may be registered. The trust deed must contain:
- the name of the trust
- the purpose
- trustee names
- protector name (if any)
- the duties and powers of the trustees
- Date of settlement
- Specifics of the trust property
- Revocability status of trust
- Identification of the beneficiary, by name or type or group
You can only apply to form an international trust through us online.
We are here to set up an international offshore trust for you.
Belize Trust Formation
We will check the name availability for your trust 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 Settlor. 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 trust registration after we receive the necessary information and payment.
The process of trust registration normally takes three working days. You will receive The Deed of Trust and Certificate of Registration by courier post. The delivery time varies depending upon your location.