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F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 8560
Experience:  I have been practising for 30 years.
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Is a statutory oath under belize law IBC enforceable

Customer Question

is a statutory oath under belize law for an IBC enforceable in the UK
Submitted: 7 months ago.
Category: Law
Customer: replied 7 months ago.
any response
Expert:  F E Smith replied 7 months ago.
Can you explain your situation a little more detail please?
Customer: replied 7 months ago.
OK I own 2 offshore companies.One is owned by the other but at the end of the day i am the Beneficial owner. The first company may be liable for a fine ,but i have not had any notification at all.
the company has no money and is in fact insolvent so i am liquidating it.I have been asked by belize to sign an oath that i know of no obligations .no assets etc. that the company has .This is true as far as i know.it says i would be liable to a fine or imprisonment if this was not so -- as far as i am aware this is the case
please advise
Expert:  F E Smith replied 7 months ago.
Thank you. What is the relevance of it being enforced in the UK?. What is the problem you are anticipating?
Customer: replied 7 months ago.
well if this company gets fined after i sign the oath ,can i get into trouble?Also i bought an offshore company for anonymity and safety ?
Customer: replied 7 months ago.
im in the uK how can a Belize authority fine me ?
Expert:  F E Smith replied 7 months ago.
If a matter goes to court in Belize, and judgement is obtained, there is a reciprocal arrangement between Belize and the UK that Belize judgements can be enforced in the United Kingdom and United Kingdom judgements can be enforced in Belize.The relevant Belize legislation is the Reciprocal Enforcement of Judgements Act Chapter 171 which was last updated on 31 December 2000.In England & Wales, it is the Foreign Judgements (Reciprocal Enforcement) act 1933 (as amended)Can I clarify anything else for you?Please use the rating service to rate positive. It’s an important part of the process by which experts get credited.Best wishesFES
Customer: replied 7 months ago.
well if i sign this oath now ,as there are no outstandings as far as i am aware ,do i have problem if something arises in 2 montsh time?
Expert:  F E Smith replied 7 months ago.
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mso-hansi-theme-font:minor-latin;}That would be fine provided no one can prove that you lied at the time of declaration, it wouldn’t matter what you found out later
Customer: replied 7 months ago.
please see below and advise how binding this is ,also another company owns this company and i am beneficial owner of that company .I am not a director .
Expert:  F E Smith replied 7 months ago.
I cannot see anything else.

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