TRUST FORMATION
CUSTOMIZED STRUCTURING FOR YOUR BENEFIT!
If you want to preserve your wealth against uncertainty (political, economic or personal) or have interest in transferring wealth to your heirs in a tax-efficient manner, you should consider setting up a trust with Belize Bank’s Trust Division
Belize Bank’s Trust Division, through the licensed professional trustee company, Belize Trust Company Limited, provides trust formation, professional trustee and trust administration services.
The primary benefit of a trust is that it allows the legal ownership of property to be distinguished and separately vested from the enforceable rights of use and enjoyment of that property. This makes the trust, particularly when established as an exempt trust, an extremely flexible, sophisticated and creative instrument for asset protection, tax, estate and investment planning, and the preservation of confidentiality.
Benefits of Belize trust:
- Belize’s Trust Law is one of the strongest and most flexible asset protection trust legislation in the world.
- No legal requirement to audit trust accounts
- No requirement to disclose the names of any beneficiaries under a trust and registration of a trust is entirely optional.
- A Belize exempt trust and its trust property is exempt from income and business tax, estate, inheritance, succession or gift tax and all instruments relating to the trust property or to transaction carried out by the trustee on behalf of the trust shall be exempt from stamp duty.
- Trustees of a Belize exempt trust shall be regarded as a non-resident of Belize and shall be exempt from exchange control with regard to the trust property and to all transactions carried out by the trustee on behalf of the trust.
- Extremely flexible and can accommodate numerous asset protection clauses
- Typically discretionary trusts. Such trusts may also provide for automatic successor trustee and protector provisions.
- Belize’s trust laws also permit the establishment of private trust companies.