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Tax Planning / Asset Management

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CUSTOMIZED STRUCTURING FOR YOUR BENEFIT!

For some the attraction of doing business outside of North America or Europe is increasing.  With current worldwide economic realities in mind where are you going to do business next? The United States and Europe do not need to be on either end of your supply chain. Your bank does not need to be in the USA. Your company can be offshore. You can arrange your affairs in such a way as to make yourself the beneficiary of a Panama Foundation and enjoy the fruits of your labors in privacy.

Why moving Offshore?

There are many tax advantaged jurisdictions such as Belize and Panama. Going “offshore” in these countries and you will not have any local taxes on international income. Using a combination of Panama and Belize entities there are legal vehicles for incorporation, for banking, and for Private Interest Foundations that help you keep your private business private and never pay a cent of taxes from the profits of your international (offshore) business in either Belize or Panama

An Effective Offshore Combination

An effective offshore combination consists of banking and an offshore company in Belize, owned by a Panama Private Interest Foundation.

Panama Private Interest Foundation

A Panama Private Interest Foundation can own bank accounts, companies, royalties, jewelry, airplanes, and boats. This includes corporations can own corporations, and so forth. This business entity has no owner and its beneficiary, you, need never appear in any public record. A Panama foundation of this type (there are public ones too for different purposes) is an excellent alternative to a trust for passing inheritance to your heirs without tax consequences. Panama does not tax income that is not earned in Panama. In the matter of benefitting from international business opportunities, a Panama foundation can own a Belize corporation.

Trusts in Belize

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 in Belize.  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 international 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 in Belize is required in order that the trust be valid.
  • 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 International 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.