I'm worried about my Belize company setup please confirm if it is still good?

[fei]

Hello I'm so thanksful that I have found this forum and all the helpful people here :whoo:


For some years ao I setup a Belize company because it was a great entity to protect my privacy and there was no tax to be paid. It seems that anno 2012 things have change alot. Can you let me know if my Belize company is still a good entity to protect my privacy?

 

[JohnLocke]

Your Belize company may still be a valid and good option for privacy protection depending on who and how you have incorporated the company in Belize. However, you may have noted the changes during the last years, several offshore jurisdictions have signed several TIEAS and other agreements to get off the radar of the OECD, so Belize has.

 

[dwilson]

It depends on whether you used additional features such as nominee directors & shareholders, underlying trusts and/or companies. Flat structures are surely more vunerable than solutions using the aforementioned services...

 

[lavel]

I would not be that worried with a Belize offshore company.

 

[JohnLocke]

Best protection one can get is if know one knows that you own the company and this can be hided for everyone.

 

[fei]

Thank you I got my Seychelles company from you guys.. everything is so great, thank you very much. I will not renew my Belize company I believe it will vanish soon then.

 

[Yitzhak]

I'm curious. Is there a practical difference between Seychelles and Belize? A compelling reason to choose one vs. the other? I'm planning on incorporating my first offshore company on the 29th, and they seem about the same. Then again, I am not an expert... yet.

 

[fei]

I'm not an expert too, but I don't inserted nominee director or shareholder and I don't bought any additional service but still my name does not appear public which was important for me.

 

[JohnLocke]

It depends all o what your requirements are. the major difference between these two entities are that Belize has a public registry of company while Seychelles has not. Also we have listed a few things in the blog post that can be found here: Why Seychelles? - Blogs - Offshore Company Forum

 

[billywonder]

My requirements are privacy, you still believe Seychelles or Belize is good?

 

[Yitzhak]

Is the article saying that Belize is involved in information sharing treaties with the US and others?

 

[TVentures]

Belize is good with a sufficient structure. If you are concerned with tax treaties, move to Guatemala. Note: Belize plus Belize trust is null.

 

[billywonder]

Belize is good with a sufficient structure. If you are concerned with tax treaties, move to Guatemala. Note: Belize plus Belize trust is null.

I like the idea of Belize but why Belize and not the Seychelles?

 

[Yitzhak]

I like the idea of Belize but why Belize and not the Seychelles?

Or why not Hong Kong or Cyprus, for that matter? If the idea is the to pay the lowest possible tax rate, you should be able to incorporate there, and use the tax treaties to your advantage.

 

[billywonder]

I read Hong Kong requires you to travel to HK also for bank account opening:s-confused:

 

[Yitzhak]

A friend of mine did it by phone, and in person at his local branch for documentation. Depends on the bank.

 

[Yitzhak]

Regarding tax treaties, wouldn't opening a CSL in belize still be a pretty good deal?

 

[TVentures]

Seychelles is good for an entity. Not for a banking location. A big financial risk due to it being in African control. Unstable. See this thread for a post about jurisdictions and their TIEA's. /im-confused-about-corporate-banking-offshore-18870/index2.html#post35265

 

[porwal]

Yeah for a simple offshore company setup it seems Seychelles IBC overall other, for more advanced solution you look into a mix or complete different offshore jurisdiction right?

 

[TVentures]

Or Guatemala.


Yes, multi layered is needed to make true structure. Single layer will only work until someone comes knocking. Only time it survives is when the individual associating with the single layer gains the little bit of legal knowledge needed to maintain the limited liability and utilization of the law of capacities.