What is a Tax Haven?

Going offshore in simple terms means placing your savings, investments, assets or business concerns outside of your home country, within one of the many tax havens i.e Belize. A tax haven such as Belize has very favourable tax advantages, which means that your savings, investments, assets or business profits can grow free of almost any taxation.

The laws and regulations present in Belize allow foreign investors (both individuals and corporations) to reduce their tax liability through the utilization of offshore vehicles such as trusts, International Business Corporations, bank accounts, and credit cards.

• Incorporation of International Business Corporations (IBC’s)

• Creation of foreign trusts

• Offshore Bank Formations

• Captive insurance company formation

• Formation of personal and corporate bank accounts and credit cards

• Corporate and personal financing

• Offshore Gaming Licenses

• Income tax consultation

• Creation and incorporation of multi-jurisdictional nonprofit organizations and partnerships

• Maintenance of corporate records

• Director and nominee shareholder services

• Establishment of foreign citizenships and residencies

• Provision and maintenance of foreign registered offices and agents

• Liaison and referral service to major international financial institutions

• Foreign marine registrations

• Letters of credit

• Creation and Operation of a new Offshore Bank in Belize is also available.

Some benefits of the various International Offshore services in Belize are:

• Keep business affairs confidential:: Offshore Companies offer complete privacy. If the company shares are held by a Trust, the ownership is legally vested in the trustee, thus gaining the potential for even greater tax planning advantages.
  
  
• Reduce payroll and travel expense administration: Offshore Companies need not pay social security, withholding tax, or associated expenses of employees working in other foreign countries. This can be a major savings for companies that have staff working on overseas projects.
  
  
• Allow employment or consultancy fees to accumulate in a low tax area: Offshore corporations can contract the services of professionals to employers resident in high tax locations or politically unstable areas. This allows the fees to accumulate in a low tax jurisdiction.
  
  
• Protect investments in other foreign countries: International Companies can loan funds to corporations in other foreign countries. Investors may set up, but not directly own, an offshore company that loans funds to a development company set up in another country and charge interest rates that will lower tax obligations and protect the long term ability to repatriate investment funds. This can be especially important when working in countries with strict exchange controls and high tax profiles.
  
• Minimise tax exposure when dealing with international transactions: An offshore corporation can buy or lease products from one country and then sell or lease them to a company in another country so the profits of the transaction are accumulated in the offshore company where there is no taxation on profits.
  
  
• Maximise profits from intellectual property rights, franchising and licensing: An offshore company can franchise or licence intellectual property rights in other foreign countries allowing the profits to accumulate in a tax free environment.
  
  
• Protect the long-term survival of multinational companies: By moving their domicile from countries with poor economic or political stability to a more stable tax haven.
  
  
• Protect assets: In combination with a Trust, an Offshore company can avoid high levels of income, capital and death taxes that would otherwise be payable if the assets were held directly. It can also protect assets from creditors and other interested parties.
  
  
• Simplify the transfer of assets and properties held in several countries: The sale or probate of properties in different countries can become complex and expensive. If these are collectively held by an offshore company, ownership can be transferred by company shares rather than transferring the actual properties owned by the company.