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Articles

Reasons Why Belize is Considered a Tax Haven

Written by: Editor

Reasons-Why-Belize-is-Considered-a-Tax-Haven.jpgBelize has a very well-developed offshore financial sector. The country offers a number of quality services for offshore, among which the ability to incorporate an International Business Company or IBC, which is the preferred business form for those who want to open a company in Belize. The country has several key features that make it a true tax haven, among which the taxation principles and financial privacy.
 

No taxes for offshore companies

 
The first reason why Belize is considered a tax haven is that there are no taxes payable by offshore companies on the income they derive from abroad. Setting up an International Business Company is a fast and simple process and foreign investors can use this business structure for a variety of international business purposes. In some cases, licensing is mandatory, however, the general administrative procedures are light and there are no requirements for reporting.
 
Belize has been working on perfecting its offshore investment legislation. The International Business Companies Act, the Trusts Act, and the Offshore Banking Act are all designed to make the country very corporate friendly and a tax haven in the truest sense of the word.
 

Strong financial privacy

 
Second among the reasons why Belize is a tax haven is the financial privacy of the company and of the investor. Entrepreneurs do not need to disclose any personal information upon registration and the country does not have an exchange control policy in place. Belize offshore companies are offered the option to transfer unlimited amounts of currency, with no reporting requirements. 
 
Moreover, the favorable banking regulations stipulate that the name of a bank account holder and information about that account may only be disclosed if a criminal investigation is underway and the disclosure is requested via a court order.
 
Our Belize company registration agents can give you complete information about the requirements for foreign investors and the advantages available in the country.
 
Contact us for complete offshore company formation services in Belize.
 
 

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