Livability:
Subtropical climate, virgin
rainforest, friendly people, un-spoilt beaches and a spectacular barrier
reef, with incredible marine life.
Belize is strategically located next to Mexico, near the US and the Caribbean islands, rich in natural
resources with a stable and supportive economy, bilingual workforce and
established infrastructure.
There is a well-developed legal
system modeled off British Common Law and statutes. The government of
Belize enacted a series of legislative measures to make Belize an ideal
offshore jurisdiction. These include:
the International
Financial Services Commission Act which seeks to promote, protect and
enhance Belize as an international financial services center and to
regulate the provision of international financial services;
the International Insurance Act which provides for the
regulation of persons establishing and carrying on international insurance
business;
the Limited
Liability Partnerships Act which permits the creation of limited
liability partnerships;
the Retired
Persons (Incentives) Act which offers certain tax exemptions and
incentives to qualified retired persons;
the International Business Company (Amendment) Act , which
provides for the establishment of limited life companies.
the Mutual Fund Act , which provides for the regulation,
authorisation and control of mutual funds and their managers and
administrators;
the Trust Act in 1992 for the benefit of any person whether
or not ascertained or in existence and for the valid charitable or
non-charitable benefit of all.
the Protected Cell Companies Act which allows for the
incorporation of protected cell companies or the conversion of an existing
company to a protected cell company;
the International Banking Act of 1996 simultaneously with
the Money Laundering (Prevention) Act which established mechanisms and
procedures to ensure that the country's financial institutions are not
used to disguise the source of illicit funds.
Today because of its laws, Belize has
become the offshore jurisdiction of choice.
Belize Currency,
Belize Banking, Belize Offshore Banking
Belize's currency,
the Belize Dollar (Bz$), is fixed to the American dollar at a rate of $2
Bz dollars to $1 US dollar. There are 4 Commercial banks, the Belize Bank
Ltd., Barclay's Bank PLC, the Bank of Nova Scotia and Atlantic Bank Ltd.,
and a Government Savings Bank. Offshore banking is one of Belize's claims
to fame.
A central bank has recently been set up to
replace the Monetary Authority of Belize. Recent amendments to the Banking
Act permit offshore banking. All hotels, resorts, restaurants, tour
companies, and most commercial enterprises accept US dollars, traveler's
cheques, and credit cards.
ATM machines are now common throughout most of
Belize.
Investment Incentives:
A variety of
Investment Incentives are being offered by the Government of Belize (GOB),
which were developed specifically to encourage foreign investment in
Belize.
Tax-free offshore accounts,offshore Trusts,merchant
accounts,online trading and new company formations in Belize are worth
investigating.
