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Belize Limited Liability Partnership

Limited Liability Partnership (LLP) is another international financial service that has receintly drawn the attention of offshore community, as the ideal business structure for many businesses. LLP is a business structure that allows its members to freely concur on the relationship between them, as the partners do in a partnership. That gives LLP the organizational elasticity of a partnership, and makes LLP a corporate body which has the ability to contract in its own right.

The registration of Limited Liability partnerships is provided by Belize Limited Liability Partnership Act. There have been very few registrations, before the Act acquired a financial provision bond in the sum of USD 250 000 to be paid by a local bank or international insurance company to the registrar or LLP's in case of winding up of the Limited Liability Partnership. According to the last year Act amendment, the Limited Liability Partnership needs only procure such type of bond for the sum of BZD 250 000.