Doing offshore banking means banking through tax havens.  With this, you are placing your assets, savings, or investments in a country that do not levy taxes on your deposits or assets.  One of these primary jurisdictions allowing offshore banking is Belize.  The government of Belize has formulated and approved laws regulating offshore banking and other financial services.  These laws aim to allow depositors and investors to reduce or even eliminate their tax liabilities through various methods of financing.

These various legislations came in force on July 1, 1999.  All these laws are designed to strengthen and expand the developing international financial service industry of Belize, as well as to ensure that Belize remains a strong force in offshore financial services, with impeccably honest and trustworthy reputation.

These laws include International Financial Services Commission Act which aims to establish a commission which would ensure that Belize stays a strong offshore financial service jurisdiction and would supervise the financial services offered.  The International Insurance Act of Belize was also passed in order to regulate people wanting to establish insurance businesses.  This law sets the parameters and requirements in setting up an international insurance business in Belize.  Belize has also passed the Mutual Funds Act in order to regulate the control and authorization of mutual funds.  This Act also provided for the categories of Belize funds, which included public, private and professional funds.  The Protected Cell Companies Act is a law passed in order to provide for and regulate the incorporation or conversion of a protected cell company.  Belize has also passed the Limited Liability Partnership Act which sets the process of establishing a limited liability partnership as well.  This law also provides for the dissolution and winding up of these types of partnerships.  The International Business Companies Act was passed setting the laws on establishing Limited Life Companies.  This law also sets the rules on the dissolution and winding up of these companies.