International Business Companies

Compass Professionals can assist in the formation of International Business Companies as well as offering full corporate maintenance.  As a complement to your IBC the Compass Group can offer the services of acting as a corporate director and/or nominee shareholder.  Mail forwarding services are offered in additional to a diverse array of other corporate services.  Contact us for more information!

Local Belize Companies

The Compass Group is well versed in the subtle intricacies of forming a local Belizean Company.  We offer a full line of services in order to not only form your Company, but also to comply with the annual requirements in order to maintain the good standing of your business.  A registered office address for your Company can be provided by Compass Group Corporate Services Limited.

Immigration and Work Permits

The Compass Group can assist with the acquisition of Belizean work permits as well as residency and nationality applications.  We are very experienced in dealing witht eh local process of Belize and our familiarity with the application processes and can make your immigration matters easy and stress-free.

Retirement Incentives Program

The Government of Belize has instituted a program for US, UK and Canadian retirees interested in relocating to Belize for their retirement.  The Belize Retirement Incentives Program offers a multitude of tax benefits to those persons who are forty five and older and who are willing to deposit US$2,000 per month into a Belizean bank account.  Compass Group Corporate Services Limited can guide you through the application process in order to qualify for this attractive program.

Real Estate

Our professionals can offer advice and guidance concerning real estate matters in Belize.  The Compass Group can offer services that will assist with your purchase or sale of Belizean real estate including, but not being limited to, title searches, drafting of property transfer documents and escrow services.  Interested in developing property in Belize?  Find one of the last great waterfront opportunities available?  We have the knowledge and contacts to help you succeed.

International Insurance

The Compass Group can assist with the setup and management of all your international insurance needs.  This includes captive insurance for business risks and private placement life and annuity contracts tailored to meet your business or investment needs.

Trademarks

Compass can assist with the registration of trade marks in Belize.  Belize is a party to the Paris Convention for the Protection of Industrial Property, thus marks registered in Belize can claim priority when attempting to register the same mark in another country that is party to the Convention.

ExPat Tax Filing Services

Compass Group Corporate Services Limited offers ExPat tax services for filing with the Internal Revenue Service in the United States of America.  US citizens (or long term residents of the US – 8+ years) and Green Card holders living abroad continue to have an obligation to file US tax returns after they depart the United States.  Many are not aware of this obligation, especially if they live in a new tax jurisdiction which only taxes residents on certain income (such as a system using territorial taxation – income remitted to the jurisdiction, or local source income).  The holding of a foreign bank or brokerage account requires reporting to the IRS and there are serious penalties for failure to report.

If the taxpayer comes forward voluntarily and files back tax returns, there are generally no criminal penalties assessed by the IRS.  In many cases the back tax returns can be filed with key elections made, and with sufficient documentation of income and expenses from the past, producing an end result with very little or no tax and interest owed at all.  However, if the IRS audits the tax payer first, either by way of a random audit or in the worst case by way of a report whereby a person close to the taxpayer turns them in for a finders fee or reward, then there are criminal penalties assessed against the tax payer and it is too later to come forward voluntarily.  This is the worst of all cases to be faced with for the tax payer and it does happen.

Compass can help you clean the slate and move forward without fear of IRS repercussions or threat from extortion from those who know about your lack of US tax filings in the past. 

If you are a resident of a jurisdiction that currently does not tax on the basis of worldwide income, as the United States does, and that jurisdiction is moving to a system that will tax income earned outside of the jurisdiction, you need to protect yourself and your assets from tax penalties and increased taxation through proper planning.  Proper structuring of your assets can protect them from tax exposure under foreign jurisdictions.  The Compass Group has the solutions for your specific needs.

Asset Protection in Belize

Belize has fast become the premier jurisdiction for asset protection trusts.  A maximum level of protection for assets is attainable through the creation of trusts under the Belize Trusts Act of 1992.   This trust legislation has proven to be one of the most modern and flexible of its type worldwide and was designed with an emphasis on asset protection.  Belize is one of the few trust jurisdictions in the world that offer immediate protection from court action initiated by creditors which challenges the settlor’s transfer of property into the trust.

The Trusts Act of Belize contains key provisions that offer rock solid protection for assets that are transferred into a Belizean Trust.  A key difference between Belizean Trusts and those trusts in other jurisdictions is the fact that Belize has excluded the law of fraudulent conveyances as it relates to Belizean trusts.  Section 7, subsection 6 of the Trusts Act states, “where a trust is created under the law of Belize, the court may not vary it or set it aside or recognize the validity of a claim against trust property pursuant to the law of another jurisdiction or the order of a court of another jurisdiction in respect of:

• the personal and proprietary consequences of marriage or the termination of marriage
• succession right (whether testate or in-testate) including the fixed shares of spouses or relatives; or
• the claims of creditors in an insolvency

In the absence of actual fraud during the creation of the trust, the assets of a Belizean trust cannot be attached to satisfy the judgment of a foreign court based on any foreign law, PERIOD!  Fraud is understood to mean an action of deceit at common law, which involves dishonesty, fraudulent conduct, and false statements made knowing them to be untrue, by which the liar intends to deceive a party receiving the statements and expects the party to believe and rely on them.

While most jurisdictions tout their effectiveness at asset protection, Belize is one of the few jurisdictions whose laws have been tested and proven in the highest court in the nation.  In Securities and Exchange Commission v. Banner Fund International (1994) the asset protection provided by the Trusts Act of Belize was upheld by the Supreme Court of Belize.  The SEC of the United States was stymied in their attempt to acquire confidential trust documents that were being held in Belize.  Supreme Court Justice Troadio Gonzalez ruled that the documents were protected by the Trusts Act of Belize and ordered that they be immediately returned to the trustees rather than be turned over to the SEC, as the SEC had requested.  This decision sent a clear signal to the global community that Belize can be trusted in regard to providing financial services in an environment that is both confidential and capable of protecting assets at a superior level.

After the decision in SEC v. Banner Fund, the law of Belize concerning asset protection has been proven to be clear and powerful, capable of standing up to the most fervent governmental agencies seeking confidential information in contravention of local law.  The Belizean legislation is in place to provide effective asset protection to individuals worldwide.  Now it is up to you, the consumer, to utilize some of the strongest asset protection laws in the world in order to protect your assets against the known or unknown entities that wish to separate you from your hard earned wealth.

Compass Trust Corporation in Belize City, Belize, has the right cadre of experienced professionals that can provide you with a solid asset protection plan using the trust law of Belize.  Compass offers a complete package of services relating to Belizean trusts including formation and trustee services. 

Captive Insurance

A captive insurance company (“Captive”) is a limited purpose insurance company established with the specific objective of financing risks.  A Captive can underwrite any number of risks: property damage, products liability, professional indemnity, and /or life insurance to name a few.   A Captive’s exposure to risk is usually limited by the use of reinsurance.  Reinsurers generally deal with insurance companies directly, thus a Captive provides access to the international reinsurance markets, significantly reducing the cost of insurance.

Foreign variable life insurance Contract

A foreign variable life insurance (FVLI) policy is a variable life insurance policy issued by a foreign insurance company.  If provided through a foreign captive insurance company, the policies are customized for each policy holder.  With strict adherence to the IRS definition of insurance, a foreign variable life insurance policy can provide safety for family wealth and dynasty planning.  Individual policies are designed to meet the requirements of &7702 of the US Internal Revenue Code, to satisfy either the cash value accumulation test or the guideline premium can cash value corridor test.  A FVLI policy can eliminate the added costs of US regulations when selling insurance within the United States; commission sales structures and large administrative costs.