Building and Establishing Your Trust with Us
Belize’s Trust Law is one of the strongest and most flexible asset protection trust legislations in the world and highly favoured for estate planning, asset protection and investment purposes. Trusts are founded by the persons (settlors/grantors) who pass his or assets to another person(s) called the Trustees. Clearly said individual needs to trust the trustee he appoints for administering his trust assets. The Trustees then manage the assets as per the terms and conditions set out in the trust deed for the benefit of a third party – the beneficiary.
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 Belize trust an extremely sophisticated, flexible and creative instrument for asset protection, investment planning, tax, estate and preservation of confidentiality. A significant benefit of forming a trust in Belize is the level of asset protection guaranteed to the settlor, due to the fact that under Belize law, a Belize Court cannot vary or set aside or recognize the validity of any claim against the trust property pursuant to the law of another jurisdiction or the order of a court of another jurisdiction in respect of the personal and proprietary consequences of marriage or the termination of marriage, succession rights (whether testate or intestate) including fixed shares of spouses or relatives or the claims of creditors in an insolvency.
Some advantages of Belize International Trusts are:
- Created to specific family requirements
- Powers and duties of a protector are clear
- Trustee appointment and removal provisions are flexible
- Particulars on the settlors and beneficiary are not filed at the Trust Registry
- Wealth protection
- Both charitable and non-charitable Trusts are allowed
- No “forced heirship” provisions
- Can accommodate numerous asset protection clauses
The Belize trust legislation is probably one of the most versatile and reliable trust structure known all over the world. It has features that will surely invite any interested individual or corporate body. A Belize offshore trust and trust property is also exempted from income and business tax, inheritance, estate, succession or gift tax and all instruments relating to the trust property or to transactions carried out by the trustee on behalf of the trust shall be exempt from stamp duty and there is no legal requirement to audit trust accounts.
Zetland is licensed to provide trust formation and trustee services. We look forward to establishing your offshore trust tailored to suit your needs.
For further information, please feel free to contact Anju Gidwani, Director of the Belize Office (anju@zetland.biz)
|
