Resources on New Belize Laws
Last month there was a paradigm shift in the asset protection world.
You can now add the equivalent of a tactical nuclear weapon to your asset protection arsenal!
This new paradigm has forever changed the asset protection world. You definitely don't want to be left without this tool in your war chest.
This is immensely significant and probably is the most important piece of asset protection legislation in the world.
How to add a Thermonuclear Weapon to Your Asset Protection Plan - Video Transcript
Last month Dean Barrow, the prime minister of Belize signed some new regulations which forever changed the asset protection world. You now can use the tools he provided to you to give you the equivalent of a tactical nuclear weapon to fight your creditors off.
He has given you a tool which will forever change the way you defend yourself in the event of serious attack. Let me talk about what he did and what it is, but first I want to start with an overview of my ten minute perfect offshore asset protection plan and there is a link to it right underneath this video.
Those of you who watched my video on the perfect offshore asset protection plan will recognize will recognize this diagram. It is what I think a person should ideally have in an offshore asset protection plan. It consists of three parts. The first part is the asset protection trust, this little bucket right here, that has a trust company, it has you as the settlor, it has somebody as a protector and it has somebody or a group of people as the beneficiary.
This is a typical asset protection trust structure. The problem is this company here, runs this asset protection trust and the settlor, that’s you, does not run this asset protection trust.
That means you, my client and settlor, are vulnerable to this trust company; your forced to trust them not to steal from you and remember in that ten minute video on the perfect offshore asset protection plan I gave you a little word trick. The word STOP and what does ‘T’ stand for?
Trust nobody; never, ever, ever trust anybody. So if you just do this asset protection trust alone, this trust companies in charge and you’re forced trust this trust company, its going to get you in trouble and you’re going to have your money stolen or something bad is going to happen in the long run.
That’s not to say the trust companies I refer you to are not the best in the world but, you never want to trust anybody unless you’re forced to. So this alone, this top part alone is not good enough.
What everybody needs to do, and I explained this in the video, is add an offshore limited liability company (LLC) . This is typically what people do and why do they do that? They do that because of two reasons; first of all banks are much more willing to open bank accounts when you have an offshore LLC, they don’t like asset protection trusts that much but, when you put an offshore LLC in place which seems to cover a multitude of sins.
They seem to be willing to take the accounts, it’s been going well for quite a few years doing that that technology and that technique; and the good part is when you put this limited liability company (LLC) in place, this little orange thing. You have control; you’ve reestablished yourself as control.
Not by virtue of your status as settlor; you have no say so over here. But by virtue of your status as being the manager of this LLC and when this LLC goes and opens bank accounts etcetera, or engages in investments or buys stocks and bonds in any currency it wants, the management and controls of those assets is with this person; the offshore manager of the limited liability company (LLC) . This is typical, the structure is the same but the paradigm has changed.
The new Belize Offshore limited liability company Act is absolutely the best in the world. That’s not why you’d ever go there, there are a lot of really great LLC acts; Nevis has a great LLC act there and it takes the best of several jurisdictions. Well Belize went and took the best from Nevis, the best from Delaware, the best from several other jurisdictions and added its won previsions.
They added one prevision in particular which turns this from a plan old good limited liability company (LLC) into something which is a tremendous asset protection weapon in your hands when used correctly and what is this provision that turns this offshore limited liability company (LLC) into the equivalent of a standalone asset protection plan almost?
Well here it is. The Belize Act, section 37(7) provides “Every creditor shall before bringing an action or proceeding against any limited liability company property governed by this act shall first deposit with the Supreme Court Registry an amount equal to half the amount claimed or fifty thousand dollars, whichever is greater,” notice the word ‘greater’ “for securing the payment of the costs as may become payable by the creditor.” This is immensely significant; this is probably the most important asset protection legislation in the world.
Because it puts an incredible disincentive for anybody attempting to attack a Belizean LLC with money in a Belizean institution. What’s the problem?
The problem is that if they want to go after you, they have to put cash, this does not say post a bond, this does not say have credit, this does not say negotiate with the judge how much you’re going to put up.
This says if you want to recover $10,000n from somebody with a Belizean limited liability company (LLC) and a Belizean bank account; you’re going to have to literally put out $50,000 dollars as the entry price to go after that $10,000. If they want to go after $10,000,000 they’re going to have to post $5,000,000 in cash and believe me; the supreme court registry is a little teeny, tiny building built in the ‘20s by England and there’s a little office and you’d have to walk in there with cash. What a disincentive!
Guys the Belizean LLC Act is the greatest thing since sliced bread. I’m not going to go into it in anymore detail tonight because I’m going to be going into more detail to it next month. But for now take it with you have a tool you can implement for next to nothing; the costs are very slight compared to the value and it will stop almost any creditor in its tracks.
It is time for every person who’s part of my site to take control of their life and to stop these people and to know that they can fight. You never ever have to be vulnerable again; don’t let them get away with beating you up and I’m here to help you make sure that you can stand on your own two feet, hold your head up high and stop these guys from hurting you. Thank you very much.