Another international financial service that has recently captured the attention of many is the Limited Liability Partnership. This business structure allows for members of an LLP freedom to concur amongst themselves the relationship between them, rather as partners do in a partnership.
Limited Liability Partnerships (LLP) has the organizational elasticity of a partnership; however, the LLP is a corporate body with the ability to contract in its own right. This new business structure can be the ideal for many businesses.
In Belize, our Limited Liability Partnership Act permits the registration of Limited Liability Partnerships (LLPs). Previously, there have been very few registrations, since inter alia, the Act acquired a financial provision bond in the sum of US$250,000 to be paid by a local bank or international insurance company to the registrar or LLP’s in the event of winding up of the LLP. Fortunately, an amendment by the virtue of an amendment of the Act last year, the LLP needs only procure such type of bond for the sum of BZ$ 250,000. With this change in the amendment, CILTrust can now offer you this innovative business structure.
For additional information regarding the setting of an LLP, you can contact us at services@ciltrust.biz or fax us your request at 011-501-223-3501.
