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Tax Haven Belize

Belize is a country in Central America which is situated on the eastern Caribbean coast of the continent. Belize is bordered by Guatemala and Mexico. Belize is a former colony of Great Britain. The country has a mixture of cultures and because of this there are many language and dialects spoken in Belize. The official language of Belize is English, Spanish and Kriol is also spoken. The currency of the tax haven is the Belize Dollar (BZD $).

Belize is one of the tourist destinations in Central America. The country has a little bit of everything to offer, beaches, ecotourism, nightlife and entertainment. The country enjoys great climate which attracts persons from the different continents and regions around the world. The attractions in Belize include the famous Mayan Pyramids, the Belize Barrier reef which makes for fishing, diving and snorkeling. There are many rivers in Belize from which to enjoy river rafting, swimming and kayaking. Eco tourism is very important to the tax haven of Belize. The country has a number of animal and plant species which can be found in wild life reserves and parks across the country.

Belize’s economy has been supported by its booming tourism industry, agricultural sector, fishing industry and of late its offshore financial sector. The tax haven of Belize has a well established offshore sector which was established at the beginning of 1990. Belize has passed legislation which supports the provision of the following offshore services in the tax haven: offshore banking, the incorporation of offshore companies, the formation of offshore trusts, electronic gaming, the registration of ships and vessels among others.

Belize is a pure tax haven. This means that Belize companies which are incorporated as offshore companies will pay zero local taxes on incomes earned outside of the tax haven. A Belize offshore company cannot do business in the offshore tax haven but is a legal entity which can do business anywhere in the world. Belize offshore companies are not subjected to capital gains tax, withholding tax, estate tax and gift tax among others.

The offshore banking sector in Belize is well respected throughout the offshore world. Belize offshore banking can be done at highly respected offshore banking institutions in the country. Some of these banking institutions are branches of foreign owned bans and a few local banks are also available. Offshore bank accounts can be operated by corporations and individuals in the tax haven of Belize. Offshore bank accounts established at offshore banks in tax haven Belize are not subjected to taxation on interests earned or capital in the bank account. The tax haven guarantees offshore bank accounts holders banking privacy. Information in offshore bank accounts in tax haven Belize cannot be given out without the written consent of the bank account holder. Belize offshore bank accounts cannot be subjected to the laws pertaining to divorce and other court matters of foreign countries since they will not be recognized in the tax haven.

The offshore tax haven of Belize also provides privacy for offshore corporations. A Belize International Business Company incorporated in the offshore jurisdiction has no obligation to provide the Registrar of Companies or the tax authorities with its annual financial audits. This is kept at any location for the use of the company directors and shareholder or other officers of the company. There is no need for the names of the company owners and directors to be made known to the Registrar of Companies. For further privacy owners of offshore companies can use nominee directors and shareholders for offshore company formation in the tax haven. Nominee services are provided by offshore services providers and registered agent in the tax haven. A registered agent must be employed for offshore company formation in the offshore tax haven of Belize.

The government of the tax haven of Belize sees its offshore financial sector as the way forward for the economy of the territory. There is much interest on the part of the government in the sector which has prompted a number of innovative changes in offshore legislation in the offshore tax haven. The country has a stable economical, social and political environment which is well suited for investor. Over the years the government of Belize has been able to give many incentives aimed at encouraging foreign investment in the tax haven.

The Belize offshore sector has many reasonable benefits to offshore clients. Belize provides asset protection and legal means to reduce international taxes. The offshore tax haven has had many years of experience which helped Belize reach the top as a tax haven. The communications and telecommunications systems of the country are very advanced which allows for formation of offshore companies or establishment of offshore bank accounts to be processed online saving the offshore client a trip to Belize.