Why Belize

Belize is an independent, sovereign nation situated to the southern tip of Mexico, in the Yucatan peninsula. It is a former British Colony, gaining independence in 1981. Still operating on the basis of English common law, the legal system is comprised of Magistrates’ Courts, a Supreme Court and Court of Appeal, with the ultimate appellate court being the UK Privy Council. In 1990, Belize entered the offshore financial services sector when its National Assembly enacted the International Business Companies Act (now Chapter 270 of the Laws of Belize, Revised Edition 2000), which, after amendments, allows Registered Agents to incorporate international business companies and Limited Duration Companies. Its legislative armory was further strengthened in 1992 when the Trusts Act (Chapter 202) was enacted. Both have allowed Belize to become a favorite jurisdiction for many professionals seeking to offer secure offshore jurisdictions and products for their clients. Belize boasts a solid professional infrastructure, with attorneys, accountants and company and trust service providers. Telecommunication services are good and it is a destination for many major airlines, such as American Airlines and Continental Airlines. Tourism also plays a significant role in the country’s economy, as Belize boasts the second largest barrier reef in the world, as well as the most comprehensive display of Mayan civilization currently excavated.

Why GCSL Belize

GCSL, through its two licensed entities in Belize, offers trust services, company formation, corporate directors, nominee shareholders, company secretarial, bank account opening and a wide range of administration and consultancy services. In addition, GCSL via its global offices provides consulting services on Greater China strategies, business development plans and structuring entities such as private mutual funds, re-insurance companies, etc.

The many features of the Belize legislation allow for an attractive offering to clients. These include:

		All International Business Companies (IBCs) incorporated under the laws of Belize are exempt from any local taxation, including income tax, business tax, withholding tax, or even sales tax.
		Name availability can now be verified online, through GCSL Belize, and once available, be incorporated within one day as GCSL Belize is in the same office building as the IBC registry.
		There is need for only ONE shareholder and ONE director in the incorporation of the IBC, and that information is not a matter of public record. Shareholders and directors can be individuals or corporates.
		IBCs can be incorporated using Roman and Chinese characters. Certificates of Incorporation indicating both types of characters are issued, in the event of an IBC being formed with a Chinese name.
		A trust settled under the laws of Belize is a very effective tool for the purposes of asset protection, as it specifically provides for the immediate settlement of the trust upon transfer of any property from the Settlor to the Trustee and the express exclusion of the recognition of any foreign judgments. It also expressly excludes any cause of action that may arise out of termination of marriage, probate and estate matters, and creditors’ claims in the case of insolvency
		Both local government and the regulatory authorities are keen on improving Belize’s legislation and GCSL professionals work closely with these officials and members of the private sector to enhance the jurisdiction’s profile while providing a client-focused service.
		As a member of The GCSL Group of Companies, GCSL Belize is ideally positioned to provide clients with a truly global network of services in a cost-effective, efficient and professional manner.

Click for the Guide to Belize Companies and Trusts

For further information please contact our Belize office at belize@gcsl.info

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