Investors who open a foundation in Belize may carry out a number of business and trade activities. This legal structure can be used to hold assets in its own name and it has simple incorporation and revocation procedures.
The incorporation, management and use of such a legal entity are governed by the International Foundations Act. Our Belize company formation specialists can give you complete information on the characteristics, advantages, and uses of foundations in the country.
Reasons to open a foundation in Belize
A foundation may be formed for charitable or non-charitable purposes as well as for ordinary purposes.
The foundation in Belize enjoys a tax-free regime. This is an important characteristic for those who want to open offshore company in Belize. Because it has no tax liabilities, it lacks any accounting and auditing requirements.
The foundation has a broad usage spectrum, which includes the ability to operate bank accounts, hold assets and buy or sell real estate. Foreign laws or judgments cannot render any Belize foundation as void. This is a simple business structure, with very few administrative and maintenance requirements.
How to open a foundation in Belize
Foundations in Belize are separate legal entities. This is an important distinction for all investors who want to open company in Belize.
The following are the documents needed for opening a Belize foundation:
– chosen name;
– initial deposit/endowment;
– the identification details of the founder, secretary, beneficiary, etc.
– the stated purpose and the Bylaws.
Investors should know that foundations in Belize cannot be used to own property or assets and must be licensed in Belize for the purpose of conducting most banking and insurance activities.
If you are interested in other matters such as how to acquire Belizean residency our team can answer your questions. We can give you more information about permanent residents as well as temporary residence if you are unable to remain in Belize for a longer period of time due to your commitments outside of the country. You can always contact us for more information.
For more details on how to open a foundation and for specialized assistance during this process, we invite you to contact our Belize company registration agents.
Our lawyers in Belize specializing in business and corporate law can answer any questions about the formation of a foundation from a legal perspective. We assist clients who are interested in trust and foundation creation, as well as those who have questions concerning offshore company creation and management. We also answer questions about tax and employment law, real estate and other matters.
For foreign investors who are already in the country, as well as those who plan on remaining in Belize and go through the residence process, our team can answer essential questions about the conditions for a minimum legal residence, as well as the requirements for showing one’s financial stability during the stay. You can reach out to us if you are interested in immigration to Belize.
At the end of the immigration process, you may also wish to apply for Belizean citizenship. This means that you have already spent at least five years as a permanent resident in the country, and that you have not left the country for more than thirty consecutive days (or accumulated more than three months of leave in any twelve-month period). Our team will give you more details if you are interested.