CILTRUST International Inc. is an international financial services provider working in the emergent International Financial Services jurisdiction of Belize since 1989. Being the premier provider in International Financial Services in Belize, CILTRUST International Incorporated specializes in:
- The incorporation of International Business Companies under the flexible International Business Companies Act of Belize
- The formation of trusts under the Belize Trust Act that is unlike any other trust legislation in the world
CILTRUST International Inc. is a responsible international financial services company operating at the highest level of integrity, professionalism, and confidentiality with an excellent reputation among our clients, our professional clients, and within the business community.
Our service base includes Registered Corporate offices, Registered Agents, Nominee Shareholders, Directors and secretaries and formation of international business companies in other jurisdictions other than Belize. In addition, CILTRUST assists in the fulfillment of on-going compliance requirements such as the filing of returns and the payment of applicable government fees.
CILTRUST International Inc. aspires to grow through continuous improvement and innovative services in International Financial Services. With this in mind, CILTRUST will deliver value:
- to all our clients through innovative international financial structures and services that enhance protection of hard earned assets and managing wealth
- to staff through a stimulating environment that encourages continuous improvement
Keeping in line with this philosophy and along with the core services of incorporation of Belize International Business Companies and the formation of Belize trusts, CILTRUST International Inc. also offers:
- Tax-Deferred Variable Annuities
- Limited Liability Partnerships Formations
- Nevis Limited Liability Company Formations
- Mutual Fund License Procurement and Set-Up
- Hybrid Companies Formations
We can offer some of our services in Chinese.
BELIZE INTERNATIONAL FINANCIAL CENTER
The Belize International Financial Center represents an important innovation in the delivery of international financial services. The Center is an association of leading international financial providers. These institutions have combined to make available in one place all the products and services the client needs to implement a global investment strategy. Member institutions are carefully screened to insure both upon entry and currency of their membership they continue to meet the highest standard of integrity, efficiency and professionalism that is the hallmark of the Center. The Center is composed of the following member institutions:
- CILTRUST International Inc.
- Glenn D. Godfrey & Co. LLP
- Corporate Impressions
- Paragon International Insurance
Besides sharing a common address, these member institutions that compose the Belize International Financial Center also share a common mission.
The Belize International Financial Center’s mission is to provide service that is of superior quality to meet the standards of the most sophisticated client and affordable and accessible to even the modest investor. This is done through the nurture of close communication and unparalleled standard of ethical, efficient, cost-effective service ensuring a long-term clientele relationship based upon mutual trust, while enhancing both the client’s financial standing and the Center’s professional reputation.
The Belize International Financial Center has a philosophy that the key element in the provision of high-quality, efficient, cost effective services is the maintenance of a first class staff and the investment in training and continuing education for the staff and the staff of its various organizations is of utmost importance. The Center identifies the best qualified, most experienced and highly motivated professionals in the field to be a part of the staff and provides them with the necessary education and training on an on-going basis an makes available to them opportunities and incentives for self-directed personal and professional growth.
The Belize International Financial Center, cognizant of the need for rapid, easily-accessible and accurate response to clients’ inquiries and requests, has made significant investments in procuring the most advanced computer and electronic communication equipment and capacity state-of-the-art office and information hardware and software for data processing and retrieval, word processing, telecommunications, spreadsheet, accounting and analysis. The center is able to maintain effective, direct communication with its clients on a real-time basis 24 hours a day wherever they may be. The Center provides encryption options for transmissions where confidentiality is essential.
Finally, The Belize International Financial Center is acutely aware of the ever-evolving nature of the international financial services industry. The Center has developed relationships with correspondents in major international financial services center. Feedback from these correspondents guarantees current information being filtered to clients in an expeditious fashion.
Belize, a scenically beautiful independent country, finds itself in a snug corner of the Caribbean seaboard and has more in common with its Caribbean neighbors than with the fiery nature of the rest of Central America. The country is approximately 9000 square miles with 174 miles at its longest point and 68 miles at its widest point. Belize’s climate is tropical with an average temperature of 80 degrees year round. Belize is an easy 2 hour flight from the United States of America and offers daily flights to and from Miami, Houston, Dallas, Los Angeles, New Orleans, Atlanta, New Jersey and most recently North Carolina. In addition, there are regular flights from Honduras, Guatemala, Mexico and San Salvador. The population is estimated at 291,800 with an ethnically diverse population including descendants of the original Mayan culture, various mixtures of Caribbean people, Caucasian, Chinese and East Indians. The capital of Belize is Belmopan.
Government and Legal System
Belize has enjoyed peace, stability and democracy since 1964. The country, a British Crown colony in 1862, achieved complete self-governance in 1981. Belize is a member of CARICOM, the British Commonwealth, the United Nations, the Non-Aligned Movement, the IMF, the Organization of American States, Central American Integration System and the World Bank.
Belize’s system of government is a Parliamentary Democracy modeled after the British Westminster model. The Head of state is Queen Elizabeth II represented by the Governor General, who holds the titular Head of State. The governor general, prime minister and cabinet are the executive branch of the government. The legislative branch comprises of a twenty-nine member elected House of Representative elected by universal adult suffrage and an eight member appointed Senate. The laws of Belize are derived from English common law, supplemented by local legislation. The court system is similar to the one in England, and contract and commercial law is also based on the English model. Belize, since 1961, has a two party political system, which is not constitutionally mandated. In the most recent national elections in March 2003, the incumbent government of the People’s United Party after five years of governance was reelected to a second term winning 21 seats and the United Democratic Party winning 8 seats. Both parties are committed to the economic development of the country. Belize will be holding general elections in 2008.
Currency and Banking
The local currency is the Belize Dollar, which is tied to the US Dollar with a fixed rate of BZ$2.00 = US$1.00.
Belize was one of the first countries in Latin America to begin the digitalization process of its telecommunications system and now has a network that is almost 100 percent digital. Belize was also one of the first to privatize its national telecom company (1988), but gave Belize Telecommunications Ltd. (BTL) a 15 year monopoly concession until 2003 for all phone services including cellular, paging, local and long distance. Today, Belize’s telecom market is open for competition which is evident with the launching of a new telecommunications provider, Speednet (SMART), within the last year.
Belize currently has one international airport, the Philip S.W. Goldson International Airport near Belize City providing daily services to the world through a number of international carriers to the United States and Central America.
Moving around the country has never been easier. The Government of Belize over the past years has been actively improving streets, roads and highways, including improved signage on streets and villages outside of the city.
English is the official and spoken language of Belize. However, many people in Belize are bilingual with the following languages making up their second spoken language: Spanish, Mayan, and Garifuna. As of 2002, Belize has a literacy rate of 98.2 percent according to the United Nations Millennium Statistics Division.
Business and Economy
The Belizean Government has promoted economic development through a mixed economy with private sector support and the public sector judiciously utilizing foreign borrowing, mainly on concessional terms, for infrastructure development. As of 2001, real GDP growth rate is estimated at 3% with agriculture, industry and services composing GDP.
The Ministry of Economic Development operates a comprehensive investment scheme which is available to Belizean and foreign investors alike. This provides for a tax holiday for up to 15 years and up to 100% exemption from trade taxes on import of capital equipment and raw materials. Under this investment scheme there are no restrictions on the repatriation of profits, dividends, fees, capital (including capital gains) arising from foreign investments in the country provided all such investments are registered with the Central Bank.
The strength of tourism in Belize lies with the diversity of natural and cultural attractions. Over the past ten years, Belize has actively invested in its tourism initiative. Belize realized that tourism, specifically eco-tourism, could be a real and attractive investment opportunity and an excellent catalyst for economic growth. The country continues to invest in its tourism industry.
The heart of Belize’s tourism industry lies in Belize’s natural and cultural attractions. Belize is home to the longest Barrier Reef in the Northern Hemisphere that offers paradise for fishermen, divers and snorkelers. The Caribbean coast is lined with a coral reef and some 450 islets and islands known locally as cayes, pronounced “keys”. Belize is home to the longest barrier reef in the western hemisphere stemming approximately 200 miles (322 km) and the second longest in the world after the Great Barrier Reef. Three of the four coral atolls in the Western Hemisphere are also located off the coast of Belize, offering a haven for a variety of water sports. Inland Belize holds within its history a Center of the Mayan culture with many archaeological sites throughout the country in various states of exploration. A major portion of the country is comprised of jungle and for the explorer natural untouched wilderness offers spectacular adventure. Visitors can choose from a variety of accommodations from international hotels and guest houses to inland resorts of thatched-roof cabanas as well as restaurants providing a wide range of cuisine. The combination of excellent service, modern corporate and fiscal legislation affords an extremely attractive environment for the global investor.
The cruise tourism industry is one of the most dynamic and fastest growing components of the leisure industry. Since the early eighties, the industry has had an average annual growth rate of 7.9% per year throughout the Caribbean. Similarly, over the last few years Belize has seen port calls skyrocket by more than 100%. This growth rate should see a dramatic increase as we continue to attract lines to Belize. Belize City is a major focal area, hosting over 40% of all Cruise Passengers that come ashore.