The idea of a trust originated centuries ago, rooted in English common law, and is recognized by most countries where English is the official language, such as Belize. The basic concept is this: the founder of the trust passes his or her assets to another person or persons, called trustees. The trustees manage the assets for the benefit of a third party, known as the beneficiary. Trust is the operative word for a reason. It involves trust. For an individual trying to protect money to benefit from a trust, he or she must create a legal entity, transfer assets to this entity (relinquishing your title to them), and then remain the beneficiary of the trust. Said individual certainly needs to trust the trustee. You can probably envision the possibilities: avoiding taxation, hiding money from a spouse during a nasty divorce, moving assets during bankruptcy proceedings. An offshore trust is simply the formation of a trust in another country’s legal jurisdiction. For example, if you are a resident of Spain with personal liability judgments against you, you might be interested in establishing a Belize offshore trust. In this way, you can legally separate yourself from your assets, protecting those assets from your creditors. You can receive payments as the beneficiary of the trust, or you can name other people you trust as beneficiaries.
Belize offshore trusts often benefit professionals exposed to aggressive, often unexpected litigation: accountants, medical personnel, lawyers, and so on.
When forming an offshore trust, ideally you want:
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Tax-exempt or tax-free jurisdiction, including local income taxes and capital gains taxes
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Strong privacy protection
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Solid legal legislation and standing
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Access to foreign investment opportunities not available in your home country
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Easy communication with those helping you establishing the trust
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Inexpensive setup and maintenance costs
Belize is becoming one of the most popular destinations for offshore trusts, because our country has all the advantages and none of the drawbacks featured elsewhere.
Contact us today to explore forming a Belize offshore trust. We also have many other offshore vehicles, including Belize international business companies (IBCs), Belize offshore bank accounts, Belize offshore foundations, and Belize tax-exempt corporations (Belize limited liability companies). Our Belize lawyers have years of experience linking clients with the appropriate offshore services and stand by to assist you.
