Belize Foundation

Belize offers the option to establish international foundations, providing secure and confidential means of holding assets such as properties, patents, bank accounts, and other valuable assets. One of the key advantages of an International Belize Foundation is the ability to maintain the confidentiality of your identity.

The process of establishing a Belize Foundation involves the execution of a foundation charter. The foundation charter outlines the purpose, structure, and governance of the foundation. It is executed by a founder and members of the foundation council.

What is a Foundation?

A foundation in Belize is established by its founder and can serve various purposes depending on the specific needs and objectives of the client. The most common purposes of a foundation include:

Holding Assets: A foundation can hold shares, interests, trademarks, patents, and other intellectual property rights. This allows for effective management, protection, and control of these assets under the foundation's structure.

Asset Protection: A foundation provides a reliable means of asset protection for both individuals and legal entities. It safeguards assets against potential claims from creditors, family members, over taxation, and other potential risks.

Investments: Foundations can engage in investment activities, including investing in financial instruments such as bonds, mutual funds, and other securities. This provides a vehicle for managing and growing wealth while maintaining a separate legal entity for these investment activities.

It is important to note that the specific purposes and objectives of a foundation can vary, and we are able to tailor the Foundation Charter and Private Document to suit the particular needs of each client.

What are the advantages of a Belize International Foundation?

• Inexpensive annual renewal fees
• It may hold title, rights or other interests in and to property
• It can be established by any individual or legal entity
• Can be established for a definite or indefinite period of time
• There is no minimum capital requirement
• No foreign exchange control

What is the Legislation for Belize Foundations?

Belize International Foundations are established in accordance with Chapter 24:02 of the International Foundations Act. This legislation governs the formation, operation, and management of international foundations in Belize. And outlines the rights, responsibilities, and obligations of founders, beneficiaries, and council members of the foundation. It sets forth the rules and regulations that govern the establishment and administration of a foundation.

What names can be used for a Belize Foundation?

When choosing a name for a foundation in Belize, it is important to adhere to certain guidelines and requirements. The foundation's name should comply with the following criteria:

• The foundation's name must end with the word "Foundation" or one of its accepted abbreviations, such as "Fdn" or "Found"
• Roman script: The name can be in any language that uses the Roman script. This allows for flexibility in choosing a name that represents the foundation's purpose and resonates with its beneficiaries.
• Non-geographical nature: The name should not primarily be geographical in nature. However, if a name has a second meaning or is associated with a geographical location, it may be acceptable.

Names that cannot be used:

• Similar or the same to a name of any existing or past existing foundation
• The name cannot contain any of the following words "Building Society", "Chamber of Commerce", "Chartered", "Cooperative", "Imperial", "Municipal", "Royal", or a word which conveys a similar meaning
• Words which would imply the patronage of Her Majesty or that of a member of the Royal Family
• Imply a connection with the Government of Belize or a department, agency, authority or branch thereof, any political party or any professional association recognized by the laws of Belize
• You cannot use indecent, offensive or objectionable words in the opinion of the Registrar
• The words "Assurance", "Bank", Brokerage", "Credit Union", "Education", "Fiduciary", "Financial", "Foreign Exchange", "Forex", "Fund", "Investment Management", "Insurance", "Lending", "Securities", "Trust", or "University" are prohibited

Do you get a registered agent and office address when establishing a Belize Foundation?

Yes, our packages for establishing a Belize Foundation include both the registered office address and registered agent services as essential components. These services are crucial for compliance with establishing a foundation in Belize. The registered agent is licensed and regulated by the Financial Services Commission, and ensures the foundation's compliance.

The principal office address of the foundation may be located in any country.

Additionally, we offer Belize mail forwarding services, commonly known as our virtual office address service. This service allows you to receive mail and correspondence related to your foundation at a designated Belize address, which we then forward to you.

Can individuals or entities be appointed as the founder?

Yes, any individual or legal entity from any country, excluding Belize, has the opportunity to establish a Belize Foundation.

To establish a Belize Foundation, a minimum of one founder is required. The founder(s) can also be appointed as a member of the Foundation Council or sole beneficiary, allowing for flexibility in the structure and control of the foundation. However, the founder cannot be appointed as the protector of the foundation. And the protector position is optional and not mandatory.

Should you prefer to add an additional layer of privacy and confidentiality, our company offers nominee services, ensuring that your identity remains protected while establishing and managing the foundation.

Our nominee founder services are designed to safeguard your privacy and allow you to maintain a confidential relationship with your foundation.

Can individuals or entities be appointed as the foundation council?

Yes, an individual or legal entity from any country can be appointed as a council member of a Belize Foundation. This allows for flexibility in selecting council members. It is important to note that at least one member of the foundation council must be a resident of Belize at all times. To fulfill this requirement, our Belize registered agent will be appointed to this position.

While individuals or legal entities from any country can serve as council members, it is important to clarify that a member of the foundation council cannot also be appointed as a beneficiary of the Belize Foundation. This ensures a clear separation between the governance and control of the foundation and the beneficiaries who benefit from the foundation's assets and operations.

To enhance privacy and maintain confidentiality, our company offers nominee foundation council services.

Who can be appointed as the beneficiary in a Belize Foundation?

The beneficiary of a Belize Foundation is the individual or entity that receives benefits from the foundation. While appointing a beneficiary is optional, if you choose to have beneficiaries, our company can assist you in preparing a private document that specifies the names of the beneficiaries of your foundation.

It is important to note that a beneficiary cannot be appointed as a member of the foundation council. This separation ensures that there is a clear distinction between the governance and control of the foundation (handled by the council members) and the individuals or entities that benefit from the foundation's assets and activities (the beneficiaries).

What information is available to the general public?

When establishing a Belize Foundation, the names and addresses of the founder(s) and foundation council members are required to be filed with the registry, and accessible to the public.

However, if protectors and beneficiaries are appointed, their names and personal information are not filed with the authorities and therefore not available to the general public.

To further enhance privacy and maintain confidentiality, our company offers nominee founder and foundation council services. The use of nominee services adds an extra layer of privacy, as the identities of the beneficial owners are protected.

Are there any accounting and auditing requirements?

No, there are no specific audit requirements for Belize International Foundations. However, it is important to note that accounting records are still required to be maintained.

How long does it take to establish a Belize Foundation?

The process of establishing a Belize Foundation typically takes approximately 4 to 5 business days. After the foundation is established, there will be an additional time frame of approximately 2 to 3 business days for the preparation of the required corporate documents.

Once the documents are ready for shipment, we provide scanned copies via email for your convenience. And the original documents will be couriered to you.