Holding your funds abroad may seem like a daunting task, with a lot of paperwork and complicated banking systems. The process of doing so, however, doesn’t have to be, especially if you form an offshore company in an international jurisdiction.
There are many advantages of forming an LLC in a different country, ranging from tax benefits to a safer and more private banking system.
One of the most popular nations in which to form an offshore LLC is Belize for the ease and nearly tax-free business system. Continue reading to learn how you can benefit from holding your wealth in an offshore LLC in Belize.
An LLC can be owned by one person or a group of people, known as members. An LLC can protect members against lawsuits, requires less paperwork than other business types, offers tax benefits, and more. An LLC can be formed domestically or offshore. This can be a good way for an individual to hold a bank account and keep their investment offshore.
Having an offshore LLC has many perks already, but starting your company in certain countries will earn you extra benefits. Some countries offer little to no taxes on foreign companies and it is usually much easier to start said company due to fewer regulations and lower fees. This makes it ideal for those looking to keep their assets in an offshore entity.
One of the biggest draws of an offshore LLC is the asset protection. Although you can’t dodge the U.S. tax burden with an offshore entity, you can enjoy an amount of asset protection. Because the funds are held offshore in a bank, they are not as easily accessible during a frivolous lawsuit. An offshore LLC can protect you from creditors with certainty. In addition, to sue an offshore business, many courts require a separate lawsuit in the foreign jurisdiction. This means that if someone is trying to get your money, they must also sue your offshore company. The new lawsuit will not take the original lawsuit into consideration.
There are a plethora of tax benefits for going offshore, whether it’s expatriating and living completely in a new country for work, investing, or banking. In many cases, you can lower your tax responsibilities while staying legally compliant. I must emphasize here that an individual still must file earnings with the U.S. or the country that they are a resident of. An offshore LLC does not allow you to hide income.
Offshore companies in Belize are also tax exempt from local tax including stamp duty, capital gains tax, and income taxes. There are also no taxes when transferring assets, both corporate and financial.
You may also be happy to know that Belize has a quick incorporation process, the fastest IBC and LLC registry in the world, actually. Your international business company or LLC can be formed in just hours.
The process of forming a business is Belize is simple and quick.
To form a business in Belize, you will need to submit application documents that contain your company’s name, which should include the words Limited, Corporated, Incorporated, or an abbreviation of any of the three. The application also includes the names, nationality, country of residence, and profession of all of the shareholders or directors of the company.
Along with the application, each director and shareholder will provide a notarized copy of their passport or ID card, a proof of residence (which could be a utility bill from the last three months), and a letter of reference from a bank, lawyer, or accountant.
After the forms are submitted, the bank handles the rest.
It is important to note that not everyone can be a registered advisor. Alpen Partners is dedicated to providing the proper help to our clients. To qualify to register with the SEC, investment advisors usually have $25 million or more in assets under management. We don’t take this responsibility lightly. SEC-registered advisors are held to a high standard of conduct among other advisors.
In order to be an SEC-registered advisor, Alpen Partners has to register with the Securities and Exchange Commission (SEC) as an investment advisor. We had to pass an exam on uniform investment advisor law that covers federal securities laws and other topics related to investment advising.
Alpen Partners Wealth Management International AG, the sister company of Alpen Partners AG, is now a registered investment advisor with the U.S. Securities and Exchange Commission (SEC). Together with our partner Swiss private banks, our company can now offer the full Swiss private banking experience to American clients, both resident and non-resident.
Building on many years of experience in private banking in Switzerland, Alpen Partners Wealth Management International AG provides investment advisory services to U.S. clients. Swiss banking is highly regarded around the world, well known for being sophisticated and discreet. In 2017, it was reported that $7.5 trillion in assets are held in Swiss banks and almost 51% of that is generated from clients outside of the country. Choosing Switzerland as a banking destination is choosing years and years of financial stability and growth.
The advantages of having an account in Switzerland include currency and investment diversification, asset protection, and the possibility to deposit assets in some of the oldest and best-capitalized banks in the world.
No matter the problem, Alpen Partners will handcraft a solution for you. We know that there is no one-size-fits-all when it comes to financial success. Our approach involves working with our clients to make a unique plan to meet their needs. Rest assured that we will work hard to guide you through the process of meeting your financial and personal goals.
Contact us to enhance your financial plan today.