Recent content by JohnD

did you had a look at the flow chart ? From the flow chart I see following outcomes: a) you provide a proof that the company is controlled and managed outside of Belize and is tax resident in a jurisdiction other than Belize b) the activity of the company is directed and managed in Belize and...

for 2019 the renewal was 900 Eur + fees for Good Standing document. The problem is, that I don't know if I will ever need it again - there are several changes in the legislative making the Belize IBCs very unattractive What are the possible issues, If I decide not to renew?

Hi guys, I have an active Belize company, however I'm not going to need it next year. I would like to know if I can skip the renewal of the company for the 2020 and in case I need the company renew it later on - e.g. in 2021. Also do you have any experience with this ? If the company is...

unfortunately Belize also introduced the Economic Substance Act: The Economic Substance Act came into force on 11 October 2019. The purpose of the Economic Substance Act is to ensure that Belize does not facilitate the use of corporate structures which attract profits, but which do not reflect...

this is true, however they did not follow their own terms - did not announce the change in the fees, etc. So actually it's fraud. ok, I don't know in which country do you live. What you are saying is maybe true in your country, but I don't think it applies to Latvia. I live in EU, but there are...

there is a crucial difference between the 'is' status and the 'planned' one. In the furure, you have to prove, that you pay taxes elsewhere, if you can not, you have to pay taxes in Belize - see page 160 here http://www.ibcbelize.com/wp-content/uploads/2019/01/IBCAmendment_24_of_2018.pdf

well, it's more detailed. Plus, as far as I understand the details, having (even an existing) IBC after June 2021 with income above 37.5 means you have to pay tax in Belize or elsewhere. I'm a bit surprised, that there is not a broader discussion about this here.

This is very interesting topic. I've found following information, any comments ? Belize IBC Act Changes February 2019 A new IBC Regime came into force on 1st January 2019 in Belize. Following several consultations with our legal advisors and some guidance received from the Belize...

ok, so pay pal is probably not an option, thank you for info

:) because I've already asked them about Euros and they said, it's not possible. They support only countries with the IBAN standart and Puerto Rico is not one of those. So the idea was to double convert the currency (i.e. TW Eur -> TW <currency X> -> wire transfer -> EBP <currency X> -> EBP...

I'm sorry, but how do I do that ? I know, that I'm not allowed to start a conversation yet, but I don't remember limiting something in my account...

thank you for answer, I have a Belize IBC, nominee director & shareholder from Dominica, Euro Pacific Bank account, what do you think about this setup ?

so you seem to understand their answer as an 'yes', correct ? I was not sure, how to interpret it :(

sorry, I did not get this, what is a solution ? You mean the answer from TransferWise ?

this is what I've assumed and decided not to try, but after kanakke mentioned it might be possible, I've googled a bit and found this (see below). It has no date, so it might be outdated. Did you try something similar ? HOW TO OPEN A PAYPAL ACCOUNT FOR YOUR IBC Re opening a Paypal account...