As the year draws to a close, people often reflect on the past with an eye to the future. Today, our Belize law office wishes you well and hopes you had a wonderful 2015. Our Belize attorneys also would like to offer assistance if you are wondering about how to protect your money in 2016.
When entering into business or investing in Belize, in general the best way to protect your personal assets is to utilize one of the many types of corporate vehicles the country offers. Why form an offshore company or other corporate entity in Belize? Doing so provides a barrier between the assets of that company and personal assets invested by the shareholder. This is quite popular in Belize, and would be similar to how businesses operate in the United States through a “C” corporation or a limited liability corporation (LLC).
Our Belize offshore attorneys represent a number of clients who are actually foreign companies that chose to enter into this country to do business. Our law firm assists them in registering as foreign companies. Here in Belize, they obtain all the rights and responsibilities that a local company has in the country, so the foreign company can conduct business in Belize after the registration process and procedure has been completed.
Belize has an international services regime. One of the most popular products is called an international business company. A Belize International Business Company (IBC) can be set up specifically to conduct business outside of Belize. It affords asset protection and liability protection in a corporate form. Belize IBCs are very similar to being incorporated to the United States or Canada, but since the companies are incorporated in Belize, the laws that govern these particular companies are the laws of Belize. This has been quite a popular vehicle for businesses that own assets in other jurisdictions.
The governing laws and tax rates of Belize are big advantages in forming an offshore company here. The laws are extremely friendly to offshore companies. The corporate tax rate for Belize IBCs that are doing business outside of Belize is zero, which can be a major advantage over incorporating in another country. As far as domestic companies, the corporate tax rate is based on the gross revenue of the corporation and the type of business that the company is engaged in. For example, there are different rates for electric companies versus professionals. Professionals pay 6% on gross revenue on a monthly basis, while supermarkets or commercial business pays 1.75%. The vast majority of businesses in Belize pay 1.75% per month on gross revenue, and that vast majority includes restaurants, stores, commercial stores, bars, and things of that nature. (For more information, please visit the Belize Income Tax Department.)
Fortunately for those interested in moving money to Belize, forming a Belize international business company (Belize IBC) or other financial mechanism (Belize offshore banking account, Belize offshore trust, Belize offshore foundation, Belize LLC, etc.) is as easy as ever. Clients are ensured confidentiality and tax-efficient laws, as well as an English-speaking populace and amazing real estate opportunities.
When you form a Belize offshore company with Wrobel & Co, you are also guaranteed to work with a Belize lawyer who knows the legal system and has experience with offshore accounting. Let us show you why Belize is the best country for opening an offshore bank account today.
