About the jurisdiction of Belize
Belize is located in Central America, between Mexico and Guatemala. Its capital is Belmopan. The country is populated by more than 350 000 inhabitants and its territory extends over 23000 km ². It is a constitutional monarchy with a parliamentary regime and don the head of state is Queen Elizabeth II, represented by a governor general with Belizean nationality. Belize is a member of the Caribbean and Commonwealth Community. It is the only English-speaking country in Latin America. Indeed, English is the official language of the country, while Spanish is the second.
Belize is located in Central America, between Mexico and Guatemala. Its capital is Belmopan. The country is populated by more than 350 000 inhabitants and its territory extends over 23000 km ². It is a constitutional monarchy with a parliamentary regime and don the head of state is Queen Elizabeth II, represented by a governor general of Belizean nationality. Belize is a member of the Caribbean and Commonwealth Community. It is the only English-speaking country in Latin America. Indeed, English is the official language of the country, while Spanish is the second.
Although it is not on the list of tax havens in the OECD, Belize is often considered a tax haven by many countries because it is one of the most tax-efficient jurisdictions. Belize’s economy depends largely on services, which account for more than 60% of GDP, with 16% for tourism. The primary sector is the second economic pillar with agriculture and fisheries. The majority of income for Belizean families comes from expatriate families in the United States.
Taxation in Belize
In 1990, Belize passed the International Business Companies (IBC) Act, based on the British Virgin Islands model and in less than 10 years, the country registered more than 15,000 IBCs. Corporate tax legislation in Belize is part of the most modern and practical in the world, even for individuals. Indeed, the status of retired resident makes it possible to avoid any taxation if one justifies at least 2000 dollars of monthly income for life. IBCs are the ideal offshore companies in Belize. They offer their investors a wide range of activities, from opening a bank account to owning boats.
An offshore company in Belize has many advantages. It becomes an ideal choice for any type of offshore company: asset protection trusts, IBCs or international commercial companies specializing in stock market investments. Indeed, Belize combines ease, flexibility and speed. There is no residency obligation for the shareholder, the director or the secretary. There is no taxation for the trust and the income tax is zero for the IBC, just like the accounting standards. Indeed, contractors have no obligation and can manage their accounts as they wish.
There is no VAT in Belize and the same applies to the withholding tax on dividends and the capital gains tax. The income tax is 0% up to $ 10,000 annually and 10% for income above that amount. Moreover, there is no business tax and the Belizean administration is very efficient. One of the advantages of the IBC is that it is not obliged to pay minimum capital in Belize, unlike other countries. The country has concluded non-double taxation agreements with other countries such as France or the United Kingdom. Finally, it is important to note that the country has not been involved in any civil conflict or disturbance.
Open an offshore bank account in Belize with FBS Banking™
Belize is a jurisdiction with stable economies and policies, which let you safeguard your funds. In addition, it enjoys a strategic geographical position, which places it at the heart of the economic activity of the North and South American continents. The country has a large number of offshore banks serving international clients. They are regulated by the Central Bank of Belize and offer multiple services such as the opening of savings accounts or multi-currency current accounts.
Opening an offshore bank account in Belize is easy with FBS Banking™ and its 20 years’ experience in offshore banking. Indeed, the initial deposit requirements are low, opening the account is fast and no personal visit is required: everything can be done remotely. It will allow you to have multi-currency credit cards, international bankcards, as well as access to a simple and efficient eBanking platform. Thus, your financial assets can be managed easily and safely.
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