Belize companies foundations

Foundations in Belize

A foundation set up in Belize is a separate legal entity. Belize private foundations can carry out business, trade, buy and sell property, sue and be sued, enter into contracts, open bank accounts and hold assets in its own name

The Belize Foundation Act, passed in 2010 provides for the principles of Belize offshore foundations. The principles of the Belize offshore foundations are similar to that of other private interest foundations legislations. Under this Act, a person(s) or a corporation(s) can form a charitable, non-charitable, ordinary or non-purpose offshore foundation.

Belize foundations can be founded by one or more individuals or by a corporation with a single member council. Formation of the Belize foundation can be accomplished within one week.

Uses of Foundations in Belize:

  • Asset protection or estate planning for family purposes or business purposes.
  • As a holding entity (business foundations);
  • To be able to legally separate assets from personal holdings;

Advantages of Foundations in Belize:

  • Exempt from all taxes and duties as long as founder and beneficiaries are non-resident and all of the endowed property and interests are held outside Belize.
  • Have the same consideration as companies and are usually referred to as corporate entities.
  • No Belize foundation, or any contribution to a Belize foundation, will be void or voidable because of a foreign law or judgment.
  • Have the same consideration as companies and are usually referred to as corporate entities.
  • Assets gifted upon an Belize foundation constitute an estate independent from that of the founder(s).
  • Can carry out any kind of civil or commercial transactions apart from activities prohibited in Belize or any financial services business (unless the required license has been obtained).
  • May be dissolved by the foundation council if these powers are so entitled.
  • Do not have excessive maintenance or administrative requirements.

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