Belize International Limited Liability Company (LLC)
Theoretically, a Limited Liability Company or a LLC is a hybrid between two familiar business structures, namely, a corporation and a partnership. A LLC combines the best of both worlds by offering the advantage of both a corporation and a partnership without the disadvantages of either form.
A LLC, on the other hand, has distinct advantages over both a corporation and a partnership in that it not only avoids multiple level taxation, it also limits the liability of its members to the extent of the contributions made by them to the Company. No member of a LLC has personal liability for the debts of the LLC except where there are personal guarantees or other special arrangements. Moreover, LLC members, unless restricted by agreement.
Advantages of the Belize International LLC
Legislation – The Belize Act
The Belize International Limited Liability Companies Act, 2011 (“the Act”) is modelled on the Nevis LLC law of 1995 and the Cook Islands LLC Act of 2008. It is designed to give statutory certainty on some of the key issues of concern to US attorneys using domestic LLCs. The Act introduces several unique asset protection features consistent with the importance of this industry in the international market place. It is an ideal tax planning and asset protection tool and would be a useful addition to Belize’s offshore industry infrastructure.