Georgetown Trust, Ltd.

Transcription

1 Georgetown Trust, Ltd. 1

2 One of the Leading Financial Service Providers since 1999 Licensed to do Companies, Trusts, Foundations, Asset Protection & Asset Management, Fund Administration, Insurance Representative, Bank Administration Strict Client Privacy and Confidentiality 10/27/2016 2

3 British Colony since 1798 Political Independence in 1981 British Common Law System Relatively new offshore center since 1989 Geographical advantage to North Americans who make up a significant % of our client base English speaking only one in Central and South America that is tax haven Strict banking and corporate secrecy and confidentiality violation punishable by heavy fines and jail time 10/27/2016 3

4 Political and Economic Stability Offshore business contributes significantly to the country s earnings, so wide support among government circles Tax exemption with minimal filing to Belize govt. Easy to have relationship and communication with regulatory bodies Easily regulated environment Efficient and Educated work force 10/27/2016 4

5 Banking Corporations International Business Companies, Limited Liability Companies, Domestic Business Companies, Overseas Registration of Foreign Companies, Continuation of Foreign Companies Trusts - Revocable and Irrevocable Foundations Life Insurance Wrapper Real Estate, Gold, etc. Residency 10/27/2016 5

6 Easily regulated Banking environment only 6 licensed offshore banks Exemption from all Taxes on interests, commissions, dividends, capital gains Multiple Currency Banking 24% liquidity requirement Accounts can be opened and operated without client having to travel to the country Strict bank secrecy legislation, breach of which can result in heavy fines and even jail 10/27/2016 time 6

7 Cayman Cook Islands Austria Panama St. Vincent Seychelles Mauritius Switzerland Cyprus 10/27/2016 7

8 To do international business, asset protection, banking, investments, etc. Standard authorized share capital of US$50k Minimum of 1 Director and 1 Shareholder Bearer Shares NOT PERMITTED Registered Agent, Office and Address in Belize 10/27/2016 8

9 Flexibility Exemption from all taxes in Belize Names of Shareholders, Directors and Officers not filed with the IBC Registry Changes in company structure not filed with Registry Defer ordinary income generated outside your country, and retain earnings 10/27/2016 9

10 Hybrid between a corporation and a partnership Modeled after Nevis, Delaware and Cook Islands Treated as tax-transparent, flow-through, disregarded entities for federal tax purposes under US IRS regulations Needs only 1 Manager and 1 Member 10/27/

11 Flow-through passive income from bank accounts, interests, investments Works similar to US LLC s, so great for similar tax planning, with the offshore advantage Distribution of profits to members without incurring taxable event Only judgments delivered by a court in Belize shall be enforceable against an LLC or members Holding property gaining passive income Names of Members, Managers and Officers are not filed with the LLC Registry 10/27/

12 Similar to IBCs, but denominated in BZ$ Registered under Chapter 250 of the Laws of Belize, hence the aka 250 company To do business in Belize, hold property in Belize, to hold shares in an already existing Belize company Names of Directors and Officers are filed with the Companies Registry Does not have to be set up by a licensed financial service provider Annual filing requirement 10/27/

13 Foreign corporation, further registered as an Overseas Company in Belize Able to open an offshore account in another jurisdiction, and a domestic bank account in Belize, in BZ$ Able to do business in Belize, hold property in Belize, hold shares in an already existing Belize domestic business company Continuation of an offshore company from another jurisdiction, registered further as an offshore company in Belize 10/27/

14 Anguilla Cook Islands Mauritius Nevis Panama Seychelles St. Vincent 10/27/

15 Fiduciary Arrangement for protection and transfer of assets to named beneficiaries Agreement between Grantor/Settlor, Trustees, Trust Agent, and Protector (if required) Can hold any assets outside of Belize, including shares in a Belize IBC or any other Company Funds under management can be further invested and/or diversified Only name of Trust, Trustees, Protector and Trust Agent filed with Registry 10/27/

16 Nevis Cook Islands 10/27/

17 Originally established for non-profit/charitable purposes, but now mostly for private purposes. Founder, Protector (optional), Foundation Council Members, Beneficiary(s). Governed by the terms of a Foundation Charter, sometimes accompanied by a Letter of Wishes. Irrevocable by its nature, and can be established for an indefinite period. Privacy 10/27/

18 Other Foundation Jurisdictions Panama 18

19 Alternative Investment Opportunities Real Estate Agriculture Forestry Gold and Precious Metals Technology 10/27/

20 Mutual Funds Offshore Re-Insurance Ship & Yacht Registration Non-Profit Organizations Brokerage & Trading Options Licenses for Various Financial Services 10/27/

21 Passport (sometimes plus another ID ) Proof of Physical Residential Address Either 2 Bank Reference Letters OR 1 Bank Reference Letter AND 1 Professional Character Reference Letter from an Attorney or CPA Updated CV/Resume (recent) Criminal History Report (recent) 10/27/

22 Residency In Belize Visitor s Visa 30, 60, 90 days Work Permit Permanent Residency Citizenship/Nationality Passport Qualified Retired Persons (QRP) 10/27/

23 Qualified Retired Persons Program 45 years of age or older Spouse and/or children as Dependents Proof of Income No requirement to be in the country before Can be done remotely Work through an agent Duty exemption 23

24 Birth certificate Requirements Marriage certificate (if married and spouse is dependent on application) Passport Copy Criminal history report Medical examination, including HIV/AIDS test 8 colour passport size pictures: 4 of front view, 2 of left view, 2 of right view 24

25 As A QRP Renewable every year Bank account in Belize for US$24, days per year Resident of Belize status Local and International Account 25

26 PROTECTING YOUR ASSETS PROTECTING YOU 26