Exemption from taxes, duties and exchange control

(1) Subject to this Act, a limited liability company shall not be subject to any income tax, business tax, withholding tax, asset tax, gift tax, profits tax, capital gains tax, distributions tax, inheritance tax, estate duty or any other like tax based upon or measured by assets or income originating outside of Belize or in connection with matters of administration that may occur in Belize. (2) Notwithstanding any provisions of the Stamp Duties Act Cap. 64, but subject to subsection (3) of this section, an instrument relating to a transfer of property to or by a limited liability company is exempt from the payment of stamp duty. (3) Subsection (2) of this section, does not apply to an instrument relating to a transfer of property situated in Belize, including any interest in land in Belize or in shares in a company incorporated under the Companies Act, Cap. 250. (4) A limited liability company registered under this Act shall be regarded as not being resident in Belize for the purpose of the Exchange Control Regulations Act, Cap. 52 and the Exchange Control Regulations, in Subsidiary Legislation, 2003 Edition, with regard to the property of the limited liability company and to all transactions carried out by such