The Belize Mutual Funds Act 2000 sets forth the regulatory environment for operation of mutual funds in Belize. All administrators of mutual funds who carry out their activities in or from within the Belize must be licensed by the Belize International Financial Services Commission. The Belize Mutual Funds Act 2000 prescribes several general conditions that must be met by any such licensee.
Key Features
The IFSC must be satisfied that the applicant “is a fit and proper person” to be engaged in the proposed fund administration business. The applicant is also required to have adequate knowledge, expertise, resources and facilities necessary for the nature and scope of the business proposed.
Legal Requirements
|
Requirements |
Description |
|
General |
|
|
Belize Company |
|
EUR 3,500 |
|
EUR 3,500 |
|
Yes |
|
Share capital or equivalent |
|
|
· Minimum paid up capital |
None |
|
Directors |
|
|
2 |
|
Yes |
|
No |
|
Shareholders |
|
|
2 |
|
Yes |
|
No |
|
Service Providers Required |
|
|
No |
Tax Treatment
- Minimum or zero tax on capital gains, incomes, profits and dividends that accrue to the Fund.
- Minimum or zero tax on fees, commissions and profits earned.
Duration to Set Up
Around 3 months
Distinctive Benefits of Licence
- Minimal or no-tax status on income and profits, capital gains and dividends.
- The commissions, fees and profits of fund managers, administrators and advisors are also either liable to minimal taxation, or exempted from tax.
- There are no exchange controls or restrictions on financial transfers that apply.
The Valsen Advantage
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers