There are a number of options and alternatives available to investors in terms of jurisdictions looking to form an offshore company. Each of the options has its particularities and also has several similarities. The main characteristic that is most similar in many of the offshore jurisdictions is corporate taxation.
All of us know that Belize and Seychelles are among the top offshore locations. When the investors decide to set up an offshore company in Belize or Seychelles, they may face a series of questions.
This write-up will explore the offshore company formation difference between Belize and Seychelles.
A Glance at Seychelles Offshore Company Formation
Most offshore jurisdictions have made a name for themselves regarding their attractiveness to investors.
Opening an offshore company in Seychelles offers advantages, such as ease of company formation, nil corporate taxation, a minimum requirement of one director and shareholder, and a lack of reporting requirements. Due to the multiple business benefits, most individuals opt for Seychelles offshore company formation.
Then, while focusing on the banking requirements, the offshore jurisdiction (Seychelles) provides a smooth documentation process. As a result, business investors and entrepreneurs can conduct their business transactions quickly.
A Glance at Offshore Company in Belize
The investors who wish to opt for Belize offshore company formation benefit from the same advantages as Seychelles in terms of taxation.
An important advantage of choosing an offshore company in Belize is the level of privacy the investors perceive while setting up an offshore company. Belize is not only a tax haven but also a location where the banking requirements are in favor of the investor.
Another massive advantage of Belize is that English is the official language here, eliminating the language barrier for investors.
Differences between Seychelles and Belize Foundations
As mentioned above, the investors are faced with a series of questions when deciding to set up an offshore company in Belize or Seychelles. The Seychelles Foundation law is very similar to that of Belize with a few additional features as below:
- The rights of the founder of the Seychelles Foundations can always be assigned and also enable complete privacy because, usually, the founder's name appears in the charter.
- The Seychelles Foundation Law mainly states that the foundation is the legal and beneficial owner of any assets it holds. This is a really, very good tax planning feature. This is because the onshore tax authorities have faced such entities because beneficiaries are the entity's beneficial owners. It also means that you can avoid your name being the company's beneficial owner when opening bank accounts.
- The Seychelles Foundation law also states that the foundation council gives the beneficiaries no depositary duty. This strengthens the above proposition that is the foundation that owns the assets.
- It also says that a property transfer to a Seychelles Foundation shall not be void due to the founder's bankruptcy, the liquidation of the founder's property, or any action, claims, and proceedings against the founder brought by any founder's creditor.
Why Choose Us?
We hope you got a clear picturization of offshore Belize vs. Seychelles from the above information. However, if you want to proceed with the same, you can seek the assistance of business setup consultants from Business Setup Worldwide. By choosing BSW, you will thoroughly understand the company setup requirements. To proceed further, kindly reach out to us.
How many days does it take to incorporate an offshore company in Seychelles?
Starting an offshore company in Seychelles takes around 2-3 working days.
What are the documents required for Belize company formation?
The documents required for Belize company formation are
A. Certified passport copy
B. Certified proof of address (issued within three months from today)
Can anyone open an offshore bank account in Belize?
Yes, anyone can open an offshore bank account in Belize.
How many shareholders are required for Seychelles offshore company formation?
The number of shareholders required for Seychelles offshore company formation is one.
How many directors are required for Belize company formation?
The number of directors required for Belize company formation is one.