In terms of taxes, reporting and confidentiality, Belize is a classic offshore. Here are just a few of its advantages:
- no requirements for minimum authorized capital, it can be any and it is contributed by the members in a format convenient for them;
- no currency control;
- no tax on the company income;
- strict confidentiality with respect to owners of organizations as well as directors;
- no need to report to tax authorities;
- no citizenship requirements for the directors and owners of the company;
- easy and fast registration.
Besides, unlike some popular economic zones, it is possible in this case to buy an offshore in Belize. In this country, there are no restrictions on transactions for the purchase and sale of firms. It is worth noting that you still have to pay taxes for your organization. It will be a fixed annual payment, which is also called a license. Its amount depends on the declared share capital.
As of now, the tax services of Belize and Russia do not exchange tax information, the situation has been like this for quite some time. However, work is being done in this direction and it is possible that in the future domestic legislation will be corrected. Among the drawbacks is also a ban on offshore companies to do business with residents of Belize, as well as to buy real estate there. But it is quite realistic to rent an office to get a legal address.