Development of Offshore Legislation
Belize can offer the widest range of investment vehicles. The largest outbreak in the development of Belize offshore industry happened in 1998, with the election of a new Government in Belize and more accent on the offshore services sector. The new 7 offshore industry measures were added to the legislation in 1999. They included:
- the International Financial Services Commission Act, aimed in promoting, protecting and enhancing an international financial services center of Belize and regulating the provision of international financial services,
- the Mutual Funds Act, providing for the authorisation, regulation and control of mutual funds, their managers and administrators,
- the Protected Cell Companies Act, allowing to incorporate protected cell companies or convert existing company to a protected cell company,
- the International Insurance Act, which provides for the regualtion of people opening and holding international insurance business,
- the Limited Liability Partnerships Act, which allows to create limited liability partnerships,
- the International Business Companies (Amendment) Act, providing for the establishment of limited life companies,
- the Retired Persons (Incentives) Act, which offers certain tax exemptions and incentives to qualified retired persons.