IBC FAQ - 4 of 5
Why Should I Choose Belize?
Belize meets all the basic requirements of a preferred Tax Haven for Canadians:
Independent Country (Formerly British Honduras) Member of the British Commonwealth.
- English is the main language (only one in Central America).
- Laws are based on British Common Law (Like Canada).
- No currency exchange controls. (US Dollar account are still safe, unlike other areas)
- Has a Bank Act, which provides for maximum privacy, by threat of jail and heavy penalties.
- Has no tax treaty with Canada or the USA. (Tax evasion is not a crime in Belize).
- Was intentionally created as a financial tax haven, not by accident or as a sideline to tourism.
- Is a desirable place to visit or retire. United Nations rated Canada #1, US #2, and Belize #3.
- You can drive there from here. (2 hours south of Cancun, on the East Caribbean coast).
We know of no other jurisdiction that has proven that it will back up their "paper
and ink"
with the strength demonstrated
recently
by the
Supreme
Court of Belize vs. US SEC which defended their Act of 1992 from the mighty
US Government regulator, the SEC. The Companies Act of Belize are the most modern
and most suitable in today's worldwide complex tax and political environment.
We use other jurisdictions to diversify a client wishing a multi-jurisdictional,
maximum privacy approach.
How Does a Offshore Company Compare to a Local Company?
As you can determine from the chart below, it is wise to establish your company
in a Country that has more favourable rules than your local Government imposes.
| Features |
North
American |
Offshore |
| Tax exempt in Country of Incorporation |
 |
 |
| No annual tax return required |
|
|
| Shareholders can remain confidential |
|
|
| Directors can remain confidential |
|
|
| Corporate Directors and Officers Allowed |
|
|
| Directors may Reside Anywhere |
|
|
| Bearer Shares are Allowed |
|
|
| Can be Exempted from holding Meetings |
|
|
| Recognized Locally and Internationally |
|
|
| Can you get ahead operating this way? |
|
|
What Is An IBC Nexus?
A Nexus is having a fraction or share of an IBC. This is done for those who do not want
control or responsibility, and/or do not have much money to have their own IBC. A Nexus
gives most of the advantages at a reduced cost, to those with little capital.
Follow the link below to the next part of the IBC FAQ 5 for the continuation....
