The Testamentary Trust, which becomes active only upon the death of the Settlor. The Charitable Trust, which has only genuine charities as defined by statute as its beneficiaries. An FSC is a foreign corporation established in an approved location by a United States export company. The FSC legislation allows the U.S. government to reduce the tax rate on companies engaged in export and remain within the bounds of international trade restrictions. An FSC must satisfy certain conditions relating to a foreign presence, foreign management and foreign economic process.
Negotiations are underway with Cuba, Italy and several South American countries.
International banking and financial houses have been attracted to Barbados as a result of its tax incentives, the high quality of professional services and the reputation of Barbados as a reputable Offshore Banking Center. The Belize Government is fully committed to the ongoing development and promotion of Belize as an offshore haven. Through regular consultations with the private sector, Belize ensures that its policies and legislation continue to meet the needs and interests of the international financial community in an environment that engenders trust and confidence. The small coastal country of Belize possesses one of the worlds most flexible tax systems. These features make it very popular for investors whose main concern is tax protection.