Belize Foundation

The Belize Foundation was added to the suite of investment vehicles and services offered by the Belize jurisdiction in 2010. Governed by the International Foundations Act, 2010, the Foundation is a hybrid between a trust and a company.   The Foundation incorporates the donor and beneficiary features of the trust along with the management body and legal personality aspect of a company. Similar to the other IFS vehicles, the Belize International Foundation is free from taxes and duties in Belize and is also exchange control free.

 

Key Features

Belize Foundation

Corporate Details

General

  • Legal System

Common Law/ Civil Law ( Hybrid)

  • Language

English

  • Time to Establish

1-3 Days

  • Registered Agent and Office

Yes

  • Foundation Legislation

International  Foundations Act 2010

  • Type of Entity

Hybrid

  • Taxation

No

  • Names

Maybe any language, but if other than English or French must be accompanied by a translation to one of these two

Names must end with “Foundation”

Assets

  • Minimum Requirements

$1 initial assets

  • Beneficial Owner

Yes

  • Holding Company

IBC, CSL, PCC, LP, International Trust or Mutual Fund

Founder

  • Minimum No Founders

1

  • Corporate Founder

Yes

  • Nominee

Yes

  • Qualifications 1

Not a Protector

  • Qualification 2

Beneficiary Including a sole Beneficiary

Foundation Council

  • Minimum No of Councillors

1

  • Qualifications 1

Founder may be a Councillor

  • Qualification 2
Maybe natural persons or legal entities
  • Publicly Accessibility

No

Protector

  • Requirements

Yes

  • Qualification

A Founder, Councillor or beneficiary may be appointed as the Protector except that a sole Councillor or sole beneficiary shall not act as a Protector

Foundation Charter

  • Requirements to Prepare

Yes

  • Public Accessibility

Yes

Accounts

  • Requirements to Prepare

Yes

  • Requirements to file accounts

Yes

  • Publicly accessible accounts

Yes

 

Advantages

  1. Belize foundation can be used for charitable or non-charitable purposes and other non-specific purposes.
  2. Where a foundation is used primarily for non-charitable purposes, it is deemed a charitable foundation if any (unlimited, no matter how little) part of the foundations is used for a charitable purpose. This is advantageous if the foundation is operating in a jurisdiction that offers tax refunds, credits or rebate on to charitable foundations.
  3. Belize foundation cannot be avoided or revoked (by other jurisdiction’s rulings) and are not accountable to foreign laws or judgments.
  4. Disputes and other confrontational matters arising involving the foundation may be settled through arbitration (may be settled out of court).
  5. Belize foundation can exist for perpetuity with no limit on the foundation’s duration.

 

The Valsen Advantage

  • Speedy, Efficient and consistent Services.
  • Relentless effort to obtain bank accounts.
  • Expert advice on structuring options.
  • Dedicated ongoing compliance support.