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Please select a language to view the siteBelize Foundations
Foundations are a great alternative to a Trust. If assigning a Trustee to manage your assets leaves you feeling a little uncomfortable then a Foundation is the right solution. A Foundation is considered a juristic person or an independent legal personality in it's own right, allowing you the founder, to have direct control of the assets for your lifetime. The fact that the Foundation is an independent legal entity means it has ownership of its own assets. The Foundation itself can purchase and hold any kind of asset, and those assets along with the liabilities of the Foundation, are separate and distinct from those of the founder. The assets transferred into a Foundation not only remain 100% in control of the founder, but the founder may also be the beneficiary, council member or protector of the Foundation itself.
Global Capital Protection recommends Belize as the jurisdiction of choice for Foundations. Belizean law provides better protection for Foundations as opposed to Trusts as it sets limits to legal claims against the founder. The maintenance fees on a Belize Foundation are comparatively low, and being there is no trustee in a Foundation, there are no Trustee fees, which can prove to be expensive. Contact a Global Capital Protection Specialist today to discuss forming a Belize Foundation as a vehicle for superior asset protection.
Questions & Answers
Frequently Asked Questions about Belize Foundations:
Why is there no Trustee in a Belize Foundation?
A Foundation is a legal entity in it's own right as opposed to a trust which is a relationship between the Trustee and the Beneficiaries, but carries no legal status in it's own right.
In a Belize Foundation, can the founder and the beneficiary be the same person?
Yes, the founder of a Belize Foundation can be the Beneficiary as well.
How does a Belize Foundation, protect my assets?
The assets contained in a Belize Foundation become the property of the Foundation, although you as the beneficial owner of the Foundation retain the ability to direct the assets. In a Foundation there is no Trustee, the foundation itself is considered a legal entity, so as the founder you determine the actions of the foundation directly.
Can a Belize Foundation have a US Dollar bank account?
Yes, the bank account may be held in whatever currency you prefer: US or Canadian Dollars, Euro’s or Pound Sterling.
How do Belize Foundations make money?
Much like an Asset Protection Trust, A Belize Foundation can make money two ways, actively and passively:
A Foundation can derive income ‘Passively’ through interest accrual and dividends through a bank account or from the proceeds of a securities and commodities brokerage account. A Foundation can accrue income from the sale of real property too.
For a Foundation to make money ‘Actively’ it will need to be the beneficial owner of either an International Business Company (IBC), Offshore Limited Liability Company (LLC). Any business activity occurs in the incorporated entity of which the proceeds will be to the benefit of the Foundation.
How Long is Belize Foundation good for?
Once a Belize Foundation is registered, it may continue indefinitely, unlike a Trust which is limited to a period of 120 years (unless it is a Charitable Trust).
