The Belize Mutual Funds Act defines a public fund as a fund that offers any shares it issues for subscription or purchase to any member of the general public or any section thereof; and which is registered as a public fund under the Belize Mutual Funds Act. This is the type of fund that attracts the highest degree of regulation. Public Funds must be registered (or obtain consent to registration under a pre-filing procedure) before engaging in any business activity in or from within the Belize. A Public Fund must publish a prospectus including the information required by the Act and must also produce and distribute audited annual financial statements. The Registration Application includes details of all directors, managers, administrators and other persons closely involved in the management of the fund. There are very stringent “fit and proper” requirements to be met in regards all individuals involved with the promotion and management of a fund.
Key Features
|
Belize Public Fund |
Corporate Details |
|
General |
|
|
Public Fund |
|
English Common Law |
|
Yes |
|
Yes |
|
3 Months |
|
No |
|
Share capital or equivalent |
|
|
US$ |
|
Any |
|
None |
|
No |
|
Directors |
|
|
2 |
|
No |
|
Yes |
|
Service Providers |
|
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Accounts |
|
|
Yes |
|
Yes |
|
Yes |
Advantages
- No exchange controls or restrictions on financial transfers
- There are no minimum capital requirements
- Minimum or zero tax on capital gains, incomes, profits and dividends that accrue to the Fund.
- There are no statutory limitations as regards the investment policies
The Valsen Advantage
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.