Below is the continuance of an article prepared by a Belize Lawyer.

Any attorneys in Belize will tell you in the US, more information are required to get a driver’s license than to form a company.

In Belize, a licensed practitioner at the minimum must obtain a passport copy, utility bill as proof of address and two bank references on a person wishing to incorporate an International Business Company (IBC). They are bound by Know Your Customer principles and a Code of Conduct.

It is estimated, by the US Department of Commerce, that Banks in the USA roughly hold 2 trillion US Dollars from foreigners due to US exemptions on interest income.

This total is much lower in Belize as it is estimated at 250 Million US dollars. When comparing the basis for the US onslaught, which aims at the $12 trillion they allege is put in tax havens, the local amount is not worth mentioning.

It is less than 1% of the $100 billion Senator Carl Levin, one of the proposers of the Stop Tax Haven Abuse Act, states is “lost” each year by the IRS. As one of the many Belize attorneys

I must ask, which country as a whole then really gains by the utilization and use of those same deposits that circulate in its local economy?

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