Belize is located in Central America on the Caribbean Sea board. It has enjoyed a stable and democratic government since independence from its colonial masters, Britain, in 1981. It is one of the newest entries into the offshore banking sector of the Caribbean since the introduction of the International Business companies Act. This act indicates that an International business company is one that is free of most or part of trade and other restrictions such as exchange control. It pays no taxes and it is exempt from public disclosures and trade licensing requirements in the country it is operating in. The law permits tax minimization and asset protection at competitive rates. Companies on different levels can use these incentives as a tax-planning vehicle for a wide range of economic and or commercial activities. There is also the Commercial Free Zone Act of 1994. It established commercial free zones to attract foreign investment. It allows for tax holidays and free duty in areas like manufacturing and processing and so on.
It has become a popular destination for the offshore companies because of its English based system of governance and doing business. The majority takes the form of off shore business ventures and by March 2000 after the introduction of the company’s act, they numbered 14,000. The legislation is based on the format followed on the British Virgin Islands. This country (Belize) is a leader in off shore company formation and is a tax haven for international businesses and off shore trusts. There are services available for business registration and there is the subsequent provision of support for smooth transition and operation into the country. Service provision and legal maintenance of off shore companies is also available. The banking system is not only international and off shore but also high tech.
In Belize, one is assured of quality service provision in various areas pertaining to company formation. These include acquisition of a registered business address and a registered agent, and the provision of nominee directors and nominee shareholders that are available in the market. The company is also provided with a secretary and the preparation and filing of all the necessary returns is taken care of. There are several reasons why anyone should choose to invest off shore in Belize. Firstly it is a country that is known for its low taxes within its jurisdiction this is due to the introduction of the international business company legislation in the 1990′s as well as a range of offshore enabling laws.
Secondarily it has a good reputation as the ideal place to do offshore business globally. This is because it has specific legislation that prevents money laundering and fraud. The laws of this country protect the individual and the company. This means that any activities of the directors, shareholders or of the company itself are protected from the public eye. Any company information is only privy to share holders of the company on demand although that is soon to change as countries clamor for changes in tax haven policies.
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