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#239110 - 05/28/07 03:56 PM IBC's in Belize  
Joined: May 2007
Posts: 714
Nancy1340 Offline
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Nancy1340  Offline
Does anyone know if a Belizean IBC pays US taxes?




#239111 - 05/28/07 04:09 PM Re: IBC's in Belize [Re: Nancy1340]  
Joined: Apr 2000
Posts: 8,868
SP Daily Offline
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SP Daily  Offline
No. It's stockholders might.

#239189 - 05/29/07 03:33 PM Re: IBC's in Belize [Re: SP Daily]  
Joined: Nov 2002
Posts: 3,484
Sir Isaac Newton Offline
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Sir Isaac Newton  Offline
Depends on what type of transaction Nancy.


Check out my site: www.ambergriscayerealestate.net
#239309 - 05/30/07 12:23 PM Re: IBC's in Belize [Re: Nancy1340]  
Joined: Mar 2007
Posts: 130
ELDORADO-777 Offline
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ELDORADO-777  Offline
Originally Posted by Nancy1340
Does anyone know if a Belizean IBC pays US taxes?



Have it owned by a Panamanian foundation and no taxes will be due. If you want an expert to talk to contact the guy at this web site: http://www.canadaoffshore.com and he knows the laws quite well for both Canada and the U.S. as well as other parts of the world. Also look at: http://www.offshore-protection.com and they also can set you up with a Panamanian Foundation owning your Belizean IBC. You can talk with David via their chat room feature found on their web site.


Hope this helps someone, EL-777

#239312 - 05/30/07 12:38 PM Re: IBC's in Belize [Re: Nancy1340]  
Joined: Mar 2001
Posts: 2,611
bywarren Offline
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bywarren  Offline
Jesse's post about stockholders potential tax is correct. Do not assume there is no tax owed by US citizens from a foreign corporation. Having been a stockholder and director of a foreign corporation I can assure you that once the monies are repatriated,ie, taken as income and used by the US citizen, US tax is due. As long as the funds remain in the foreign corporation, they can earn without any US tax being owed.

#239327 - 05/30/07 01:29 PM Re: IBC's in Belize [Re: bywarren]  
Joined: Nov 2002
Posts: 3,484
Sir Isaac Newton Offline
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Sir Isaac Newton  Offline
Right on. Owning an IBC in Belize or elsewhere isn't all you need to escape various US taxation. Depending on individual needs a unique structure should be formed using various products in various domiciles.

SIN


Check out my site: www.ambergriscayerealestate.net
#239340 - 05/30/07 02:06 PM Re: IBC's in Belize [Re: Sir Isaac Newton]  
Joined: May 2007
Posts: 714
Nancy1340 Offline
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Nancy1340  Offline
Thanks guys. We're going to stay in Belize City for a couple of days and try to meet with a tax lawyer or someone about this.





#239345 - 05/30/07 02:35 PM Re: IBC's in Belize [Re: Nancy1340]  
Joined: Mar 2001
Posts: 2,611
bywarren Offline
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bywarren  Offline
If you are a US citizen, you also need advice from an accountant or tax attorney that is familiar with US tax law as it relates to foreign corporations.

#239349 - 05/30/07 03:04 PM Re: IBC's in Belize [Re: bywarren]  
Joined: Mar 2007
Posts: 130
ELDORADO-777 Offline
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ELDORADO-777  Offline
The people at both of the web sites above may be able to tailor you with a program where you are never paid income from your IBC which is owned by a foundation. Instead, you are given a loan which is paid off from the IBC. So because a loan is not taxable you can enjoy tax free money and it is technically legal because it it not money paid out of your IBC which is owned by the foundation. It is instead a loan that you are given from a loan program.


But unless you have a great deal of money this program above is very expensive as far as setting this all up and it being operated for you. This is not something I am doing but I am just knowledgeable about this because I have studied it. So you better talk to "them" to get the last word on it.


EL-777

#239350 - 05/30/07 03:10 PM Re: IBC's in Belize [Re: bywarren]  
Joined: Nov 2002
Posts: 3,484
Sir Isaac Newton Offline
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Sir Isaac Newton  Offline
Most folks will consult with an "offshore specialist" or a qualified tax attorney in the US or country of residence. This professional will contact the various service providers in the "offshore" havens to set-up what is required to form the structure. Some are simple and some are complex using foundations, trusts, IBCs, bank accounts, etc. in various countries.

Almost any attorney or accountant can open an IBC for you here in Belize with a bank account. It may not be in your best interest depending on your goals. You want to be set-up properly in the event the US does find out, you will want all your bases covered.

Tax evasion is a lot different than tax avoidance.

SIN


Check out my site: www.ambergriscayerealestate.net
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