|Belize Trusts Belize trusts are world renowned for asset protection. The Belize trust is the strongest asset protection vehicle available anywhere.
The assets of a trust Belize can not be connected to satisfy the judgment of a Sovereign court (not Belize) on the basis of any law or statues Sovereigners. Activities Belize trusts are immune from the decisions, judgments and determinations (-Belize not) Sovereign courts. This includes requests for fraudulent transfer. If the transfer of assets to the trust Belize is done with the specific intent to defeat or to shelter from the collection efforts arising from the claims of creditors, and if the claim and / or judgment arising before or after the trust was created, heritage Trust in Belize would still be safe and protected. This is applicable to the order or judgment of a Sovereign court in matters of marriage or divorce and claims by creditors in case of insolvency (bankruptcy) also.
The assets of the trust are not subject to the laws relating to fraudulent transfers, the Bankruptcy Act and the Reciprocal Enforcement of Judgments Act that could normally be used to achieve these tasks. Rare to find this protection legislation in any jurisdiction.
What is a Trust? - A trust is like a company, but it is not a company. A trust is a legal entity or unnatural, an artificial entity, but legal. It 'an entity which owns the assets. The assets held by the trust are not legally yours, but they belong to the trust. A trust does not have share certificates and non-proprietary. He recipients who are the ones who benefit from the trust. The trustee (Belize Lawyer) administer the trust according to the wishes of the trust for the benefit of the beneficiaries. A beneficiary can be an individual, a corporation, foundation or other trusts. The beneficiaries may be from any country. The protection can be the settlor or beneficiary oversees trust and the trustee and the trustee may replace at will. The settlor is the person who puts the trust property. Trusts Belize are recorded in a register that is not accessible to the public. This is a simple over view and further details follow below.
Fraudulent Conveyance - Belize trusts are not subject to the laws fraudulent transfer or attacks based on allegations of fraudulent transfer. In many jurisdictions funds that are moved out of the reach of a creditor can be attached for a period of two to five years. For example, in Panama the period is three years. Every time activities are moved to the trust or foundation starts the time period. This, of course, is not the case with Belize Trust. Trust Belize is exempt from any action fraudulent transfer law. If one is in a lawsuit, or if a decision has been assigned and the debtor removes the money or property of the reach of the creditor (out of the land of the lawsuit for example) the lender can come to the country where the money is in most jurisdictions (the jurisdiction offshore bank) and initiate an action for fraudulent transfer in civil courts as an attempt to recover funds that the lender has a right to Sovereign courts. This is impossible in Belize, Belize with Belize Trust from the trust assets are exempt from the law fraudulent transfer. This is the only jurisdiction that provides these benefits today.
Lawsuit and Judgment Protection If there is a cause or a judgment rendered by a Sovereign court (not a Court Belize) this judgment or court proceedings can not be used to attack your money held by the trust in a Belize Bank Belize. Your financial enemy would need to establish a new and separate legal proceedings in Belize. This type of action would have no chance of success will fall apart as the place and authority and goes against the trust Read Belize. Just because there is a trust account and bank in Belize does not mean that there are no legal grounds to sue in a court Belize and in fact it is extremely difficult to get the place and authority if both parties are not found in Belize and the transaction does not was conducted in Belize as well. The bottom line is the trust Belize is not going to be affected by court cases and judicial decisions that have taken place in other countries.
If you want to see an extreme example of the protections afforded by the Belize confidence we look at the case of the Commission against the Securities Exchange. Banner International Fund. These people have been accused of all kinds of securities fraud related. We are not concerned with the morality of their case, the purpose of this illustration of the law Belize Trust. Were found guilty and lost and then lost again on appeal in the federal courts in the US. The link to the underlying case is US District Court here:
|The accused had a Belize Trust. The SEC has asked the order to compel the trustee for the trust Belize to disclose certain confidential information trust and turn some trust assets. The Supreme Court of Belize has refused the order to the fact that the application has gone against the relevant provisions of the Trust Asset Protection Act Belize. The Belize Supreme Court judge, Justice Traodio J. Gonzales elaborated in an oratory as follows:
"Trust Asset Protection Act does everything to reserve jurisdiction of the Courts Belize Belize trust. Section 7 (2) of the Act provides that only a court Belize has the power to declare a trust Belize valid. With the section 7 (6) of Belize trusts are granted specific immunity against the judgments of Sovereign credits under the law of any Sovereign jurisdiction. In a jurisdiction, such as Belize, which offers investors the confidentiality and protection of their property against Sovereign contenders and who has passed the law against those international purposes, it is important that judges, mindful of the will of the legislature to which the law, support these principles of confidentiality, inviolability and exclusivity of jurisdiction. "
Now that is asset protection. The point to learn from this is that not only are the Trust assets safe in belize but also the information pertaining to the Trust is also safe as well.
Lawsuit and Judgment Protection Extra Layers - If you want to superimpose further the protection of the assets of the Trust Account Belize Belize Bank and we can have a Nevis LLC listed as beneficiary of Belize Trust. Using a limited company in the jurisdiction sure Nevis as a beneficiary has a number of advantages for privacy and assert the protection. This would require you to go to the courts of Nevis and the publication of a cash bond of $ 25,000 for a lawsuit to find out who owned the Nevis LLC. Even in this case, such an action would be deficient place and authority and has an overwhelmingly high probability of failure.
The Nevis LLC can be divided by shares to distribute goods proportionally according to the wishes of the person who creates the trust. This allows him to hide the beneficiaries by the trustee in Belize since the trustee has no way to know who owns the Nevis LLC. No one on the island of Nevis has the name of the owners Nevis LLC, but the enemy does not know this financial, right? So if he never actually got through the courts Belize (very unlikely) and discovers that the beneficiary of the Trust Belize is a Nevis LLC must then go to Nevis in the world to find out who owns the Nevis LLC. This is mandatory for him to prove to the judges in Belize that has any standing to go after the assets of the trust.
Just what is a jurist would think it is hard to imagine, but there is extremely paranoid so here we go with it. And if you enter the Nevis LLC and discovers the trust assets through Nevis, LLC really belong to tell the kennel of Havana, Cuba? In other words, the burden of proof is on him to prove to the court that this confidence is really your assets and this assumes that he can show that the right of Belize that has the right to go after your assets, that is a scenario very unlikely. Remember that a trust is a legal entity and the assets of the trust are not your property. From the moment the door is closed on Belize fraudulent transfers your financial enemy has no way to reach the trust assets. Again things never ever at this point are extremely rare, but we are playing out for those of you who need this extra level of assurance. We believe it is important for our customers to sleep well at night and we take these concerns with the highest degree of seriousness.
So now we say the enemy goes to financial Nevis. Ben discovers that to bring an action before the court that Nevis must post a cash deposit of $ 25,000. If he fails to prove his case this applies to the court costs and your expenses necessary for the defense can be recovered and this $ 25,000. Figure after lawyers Nevis discourage him will hit him for $ 5,000 to $ 10,000 to examine the case before filing. The opinion will be daunting, but if you want to try that will take $ 25,000 to bring the action counting the initial payment. So it is a successful $ 50,000 (estimated) to try to see if he can find out who owns the Nevis LLC which is the beneficiary of the Belize Trust. This is after spending a good $ 25,000 in Belize to get to this point. Which is an estimated $ 75,000. Many lawyers charge more if you think the customer has deep pockets.
Do not forget your financial enemy is also paying lawyers from the country of origin to go to Belize and Nevis to assist local lawyers who do not know the merits of the case in the home country of the court in which the case originated from. So his lawyers are drinking margaritas on the beach while you pay the bill. Nice huh! There is also nothing to prevent us to remove funds from Belize during this fight as a measure of protection, and they know this or local lawyers soon inform them of this risk.
Now, if you really wanted to be daunting for your financial enemies make them spend a lot of money and this is a great deterrent. So you can have the Nevis, LLC owned by another separate Nevis, LLC. This means that the enemy would then finance if he won the first event in Nevis (extremely unlikely) to pay back the lawyer and post another $ 25,000 cash bond to go after the next record Nevis, LLC that would be a case in part. He will not be able to combine the cases because it does not know who owns the second Nevis, LLC. And if the Nevis, LLC as the owner had another Belize confidence? Then its back to Belize. See how you can drive the lawyers of the country of origin crowds and perform their legal costs enormously.
It would be very unlikely to see Sovereign lawyers chase in these jurisdictions well repaired. It is expensive, time consuming and often futile. Once you know the game is on the funds can be transferred again and again. Remember to find out who owns what and obtain records is well away from any kind of an order of seizure or blocking of a bank account. Offshore rules are different form the country of origin and that confuse and hinder the lawyers of the country of origin. What do they do when they get frustrated? They charge the customer more money, this is what they do.
Belize Trust Banking - We do not like to open bank accounts for Belize trusts. Banks cause to alter the structure of the Trust for the weakening asset protection. What we do instead is to open a bank account for a bearer share corporation or a company Belize Nevis LLC. Then we have the confidence right now. This makes the company's bank account and become assets of the trust Belize and therefore are not immune from the decisions of a Sovereign tribunal, including fraudulent transfer. A Nevis LLC, another company or another Belize Belize confidence can conveniently be the beneficiary of the Trust. So now you're not a beneficiary of the Trust. This can be useful if you have to go to a store or get examined in a court. Do you sign on any bank account for the trust? Answer: NO. You are a beneficiary of the Trust. Answer: NO. None of this is transparent in all public record or in any public database, but in reality you do not sign on any bank account such as a bank account that does not exist. Not a beneficiary because another trust or company is the beneficiary. The other side does not know and could not ask questions about this since the facts are not in evidence
Beneficiaries These are individuals, companies or firms, trusts or other entities named to benefit the Trust. Trust should work for the improvement of the beneficiaries. Trust can make loans to beneficiaries. Trust may acquire assets for the use of beneficiaries such as cars, houses, boats, etc. trusts can invest money in gold, stocks, bonds, etc. trusts are useful to have an intellectual property. The trust should not own companies active as say a restaurant. A trust can own a company which in turn does not have an active business.
Belize Trust Registry Belize trusts must be registered. The Belize Register of Trusts is not publicly available online or in person. The trustee of a trust can provide written authorization to a specified person to query the Registry to ascertain that the trust is in fact registered.
The Trustee This is the person or entity that receives the property to be managed for the benefit of those individuals, companies, trusts or other entities named as beneficiaries. The Law Firm Belize serves as trustee. The trustee has a legal obligation of confidentiality. The trustee must respect the confidentiality regarding any and all information regarding the administration trust property, bank accounts, property and trust. The trustee is under legal compulsion to perform any type of control or inspection of a given financial confidence for any reason.
The Settlor - This is the person, corporation, trust or foundation placing the assets into the trust. This will generally be you.
The Protector This is an optional position. The protectors job is to supervise the trustee and make sure they perform their role as per the wishes of the settlor. The protector has the power to remove and appoint a new trustee. The protector may also be the settlor, trustee or the beneficiary.
Belize Taxes - A Belize trust and the trust assets are exempt from income tax, business taxes, estate, taxes, capital gains tax from bank interest or stock trading gains, inheritance taxes, succession taxes as well as any gift taxes. No Belize taxes is the simple version.
Time Frame To form a Belize Trust and Open a Belize Corporate Bank Account takes two weeks.