Regulatory Alerts2010-11-15
International Foundations Act - Briefing Note
The International Financial Services Commission of Belize issued this briefing note to outline the International Foundations Act, 2010, which introduces a civil law foundation structure to promote the country's international financial services industry. The Act establishes a legal entity for non-residents to hold assets for indefinite periods, offering robust civil asset protection, tax exemptions, and confidentiality while maintaining strict registration and regulatory oversight. Key features include mandatory licensed registered agents, specific provisions against foreign judgment recognition, and limited disclosure powers to facilitate investigations into money laundering or terrorism.
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