International Business Companies

International Narcotics Control Strategy Report

United States Department of State Bureau for International Narcotics and Law Enforcement Affairs Money Laundering and Financial Crimes March 2015 Belize is not a major regional financial center; however, it has a substantial offshore financial sector. The Government of Belize continues to encourage the growth of offshore financial activities that are vulnerable to money laundering, including offshore banks, insurance companies, trust service providers, mutual fund companies, and international business companies. The Belizean dollar is pegged to the U.S. dollar, and Belizean banks continue to offer financial and corporate services to nonresidents in the offshore financial sector. Belizean officials suspect there […]

Why the secret world of Belize business alarmed US drug agents 3

Rob Evans, David Hencke and David Pallister The Guardian, Monday 4 June 2001 09.44 EDT US documents obtained by the Guardian reveal for the first time why the drug enforcement agency and other US authorities were so concerned about millionaire Tory treasurer Michael Ashcroft’s offshore world in the 1990s. The original discovery that references to the Florida-based Tory donor existed in DEA files led to controversy two years ago. Mr Ashcroft issued a libel writ against the Times, which published a correction, and he declared there was nothing to support “allegations that I am a drug runner and money launderer.” […]