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Belize LLC for Asset Protection

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Clank

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Oct 11, 2020
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#1
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I recently read an article comparing the use of a Belize LLC with a trust in the Cook Islands (link here: The Belize LLC: Better Than an Asset Protection Trust | Lighthouse Trust).

It seems like a great solution. However, I’m wondering if it's possible to get a bank account for the Belize LLC that also offers brokerage services, as I prefer not to keep my money in cash.

So far, I've reached out to Capital Security Bank.
 
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#2
It is possible, given that the company has a plausible source of funds and enough capital to be taken into consideration.

While it's all good and well in theory to set up these layers, establishing them without having at least $1,000,000 to deposit with these banks doesn't sit well and would make it difficult for you to open an account.

In practice, setting up these structures without substantial funds would not be easy.
 
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#5
Capital security bank will open an account for me which includes brokerage.

I’m a client already, minimum balance 250,000 which is not that much and fees are more than reasonable.
 
#6
Capital security bank approved my account, they are fine with digitally certified company documents. Fees are much lower than OCBC so I will opt to use CSB instead.
 
#7
Jbb1 said:
Capital security bank approved my account, they are fine with digitally certified company documents. Fees are much lower than OCBC so I will opt to use CSB instead.
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Good information, only problem I have is the 250K which is much to deposit into an online bank.
 
#9
How difficult is it nowadays to have a Belize LLC as a "holding" / "main" shareholder of an "international company" when it comes to banking for the "daughter company"? (E.G US LLC or HK LTD)

I'm well aware that banking for the Belize LLC will be significantly difficult besides going the "bigger deposit path" but how big is the "influence" on an operational "daughter company"?
 
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#10
apres777 said:
How difficult is it nowadays to have a Belize LLC as a "holding" / "main" shareholder of an "international company" when it comes to banking for the "daughter company"? (E.G US LLC or HK LTD)

I'm well aware that banking for the Belize LLC will be significantly difficult besides going the "bigger deposit path" but how big is the "influence" on an operational "daughter company"?
Click to expand...
No issues with a US LLC. It’s very common to have this setup to avoid US estate tax.
 
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#11
apres777 said:
How difficult is it nowadays to have a Belize LLC as a "holding" / "main" shareholder of an "international company" when it comes to banking for the "daughter company"? (E.G US LLC or HK LTD)

I'm well aware that banking for the Belize LLC will be significantly difficult besides going the "bigger deposit path" but how big is the "influence" on an operational "daughter company"?
Click to expand...
Anyone has experience with opening up an account for a daughter LLC (mother Belize LLC) in Europe ?
 
#12
apres777 said:
How difficult is it nowadays to have a Belize LLC as a "holding" / "main" shareholder of an "international company" when it comes to banking for the "daughter company"? (E.G US LLC or HK LTD)

I'm well aware that banking for the Belize LLC will be significantly difficult besides going the "bigger deposit path" but how big is the "influence" on an operational "daughter company"?
Click to expand...
I tried that last year, it's impossible, the banks run away if you tell them the shareholder of your trading company is a Belize or any other exotic company!
 
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#13
lavel said:
I tried that last year, it's impossible, the banks run away if you tell them the shareholder of your trading company is a Belize or any other exotic company!
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The way to do it properly is to have a front company in a whitelisted jurisdiction for payment processing, which basically sends all the profits to the offshore co.
The offshore company receives money from the company in a whitelisted jurisdiction and distributes profits either directly to you or to a trust for reinvesting.
Banking is a bit more expensive but still doable this way.
 
#14
Don said:
The way to do it properly is to have a front company in a whitelisted jurisdiction for payment processing, which basically sends all the profits to the offshore co.
The offshore company receives money from the company in a whitelisted jurisdiction and distributes profits either directly to you or to a trust for reinvesting.
Banking is a bit more expensive but still doable this way.
Click to expand...
yeah well discussed and described forum white so a guide in the mentor group gold is available for such structures. The problem is still the bank for the belize company since one has to relay on less stable banking and as you say expensive banking. However, if the costs for banking are less than what you would have paid in taxes one should not mind.
 
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#15
Shories said:
It is possible, given that the company has a plausible source of funds and enough capital to be taken into consideration.

While it's all good and well in theory to set up these layers, establishing them without having at least $1,000,000 to deposit with these banks doesn't sit well and would make it difficult for you to open an account.

In practice, setting up these structures without substantial funds would not be easy.
Click to expand...
What's your take on such setups fully anonymized, can you handle it ?
 
#19
Davis123 said:
Capital security bank had a relationship banking problem earlier. They had their accounts frozen for months. A friend had an ac there at that time.
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how long ago?
 
#20
Davis123 said:
Capital security bank had a relationship banking problem earlier. They had their accounts frozen for months. A friend had an ac there at that time.
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They had OCBC for the past 8-10 years so it must be long ago
 
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