Belize has many offshore investment opportunities to offer. The Belize trust is one that has many beneficial uses. Offshore trusts in Belize allow investors to take control of their assets and safeguard these assets against any lawsuits to be filed against you. Belize trusts are a great means to guarantee your assets are disbursed as you intend them to be without any fear of government interference.
Here are the 3 most beneficial uses of Belize trusts.
Tax Planning
A Belize trust is a good tax planning tool as it can provide substantial income tax savings as well as capital gains tax, inheritance tax and stamp duty if set up properly. Although it’s customary to declare all worldwide income based on government-imposed obligations, you are extended tax credits in your home country for taxes paid elsewhere. And, offshore taxes are often minimal to non-existent in jurisdictions like Belize.
Inheritance Planning
A common practice in many civil law jurisdictions, like France, Japan and the United States, is forced heirship. Forced heirship is when the estate of a deceased person is separated and distributed and passed to the deceased’s next of kin, overriding whatever was stated in the deceased’s will.
A Belize trust is a means to circumvent forced heirship as the assets of your estate will now be property of the trustee in care of the beneficiary and administered under the laws of Belize’s jurisdiction. This fact makes the assets in the trust secure from any legal interference from your home government.
Privacy
Belize trusts provide a wealth of privacy and confidentiality for offshore investors. Because assets will be removed from your possession and now be owned by the offshore trust, those assets will no longer be reported to the government as a part of your asset portfolio, thus legally eliminating the amount of taxes you have to pay at home. By using the trust to secure your assets, you’re gaining privacy, safeguarding your assets against any legal action, and ensuring that your beneficiaries will always enjoy the benefits of the assets you put aside for them.
