Trust Amendment

Almost everyone knows that Belize is located on the Caribbean coast, on the border with Mexico and Guatemala, and all those who live near Belize, that is.

For the hiker, Belize is synonymous with bus and mosquitoes, and environmentalist, a refuge for manatees. For the singer Madonna, La Isla Bonita is. The avid diver identifies the Blue Hole. Belize can be found in the catalog of the holiday and vacation Tui average means absolutely nothing, and yet, cruise ships fill the Belize City port daily, Europeans flock to the Keys Belize and American Airlines jet graces of airport twice a day.

The community of offshore services is well aware of its location and its benefits. There are however a number of skeptics who believe that Belize is not a destination abroad. However, it could cost more. The current $ 100 annual registration fee IPC is very inexpensive. Registration surprisingly fast, could also take more time. Belize is located in the U.S. time zones and could not be more convenient for companies in the United States. Its legal system is based on English common law, the country is politically stable and official language is English, all positive and strong points of sale.

The May 2007 to amend the Trusts Act was responsible for three important changes to trusts in Belize. Firstly, all trusts are now called Belize International Trust. Second, all trusts must now be registered - No more voluntary registration. And thirdly, all trusts have a trust officer - this must be a local service company.

The registration process is very efficient and the information must be submitted to the Registrar is limited to: name of the trust, date of settlement trust, the trustee, on behalf of the trust officer, the name of the Protector . The beneficiaries, settlers and assets are not disclosed. Confidential documentation is required by the license agent trust (which may also be the trustee). Zetland is a licensed Trust Agent and Trustee in Belize.

The application of the amendment is retroactive and thus confidently settled before June 15, 2007 (date of amendment) must be registered before June 15, 2008. All trusts set after 15 June 2007 must be registered within 90 days of the establishment.

A certificate of registration required raises many eyebrows, but perhaps Belize shaping the evolution of things to come, providing more tangibility of a solution is not always understood by customers.

Whatever your view may be, Belize offers a modern legislation for offshore solutions. Once registered, Belize international trust may be an attractive product for many customers a new asset protection.