Originally Posted by Lambsblood
Let me ask everyone a question. I am putting my condo in a corp. set up in Belize. I understand by doing so that I can sell it by just selling my shares in the corp. and therefore helping someone save the 5% Belize Tax on RE. Have you all done the same and is there really any benefit for setting up your condo in a Belizian Corp.?

TIA


NO Lambsblood you are mistaken. You are referring to a practice that is no longer a loop hole in the law. And even back then the stamp duty rate was 3%, not free.

The 5% stamp duty also applies to corporate shares that encompass ownership of some form of real estate. If you sell your shares to a non-Belizean he/she must obtain approval from the Solicitor General's office before the sale can go through.

An attorney would be better able to advise you on the benefits of a Belizean Corporation.