Setting up an International
Trust in Belize
Registration of Foreign Trust in Belize
Belize, an English-speaking country in the heart of Central America, is a relative newcomer in the field of international financial services. Since attaining independence from Britain in 1981, Belize has been endeavouring to diversify its economy away from the agricultural sector.
Belize, therefore, saw the international financial services sector as a window of opportunity where it could seek to achieve competitive advantage.
Registration of International Trusts
Belize recently amended its Trusts Act to provide for compulsory registration of international (or offshore) trusts;
International Trusts in Belize
Trusts (Amendment) Act 2007 (which came into force on 15th June 2007) and the International Trusts Regulations 2007
The law provides that all offshore trusts governed by Belize law must have a Trust Agent resident in Belize whose office would serve as the Office of the Trust.
Only limited information needs to be provided to the Trusts Registry, e.g., Name of the Trust, Date of Settlement of the Trust, Name of the Trustee and Name of the Trust Agent. All other information is kept by the Trust Agent. No confidential or private information needs to be disclosed to the Registry and it is not necessary that a copy of the Trust Deed be filed with the Registry.
The International Trusts Registry is not open to the public. It is a closed Registry. The confidentiality of a trust is fully protected.
Further information on the registration of international trusts can be found in the Trusts (Amendment) Act 2007 (which came into force on 15th June 2007) and the International Trusts Regulations 2007.
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