International banking is a beneficial option for individuals as well as businesses. Along with domestic bank accounts, setting up and maintaining offshore accounts facilitates the process of making investments and arranging finances. Although this requires a basic understanding of the banking laws in a foreign nation, once a suitable offshore account has been set up, you can be sure of having convenient and prompt access to funds from anywhere. Here are the top five reasons why you should consider a bank in Belize.
When evaluating offshore banking options, the first thing you need to look for is stability. Belize is a politically as well as financially stable nation. The independent democratic country is a member of the British Commonwealth. The banking framework of the country is modeled after the tried and tested British system. The Belizean dollar has been pegged to the U.S. dollar at the fixed rate of 1:2 since 1976.
Setting up trusts or International IBCs (International Business companies) is an effective way of protecting your investments from legal hassles. In Belize the reserve requirement is thrice that in the U.S. The high liquidity percentage of about 24 percent further adds to the stability.
If you are looking for confidentiality, you should consider a bank in Belize. Complete privacy is ensured by the country’s no-tax policy. Minimal government interference also means less restriction. Here your money is your business alone. Lack of exchange controls gives you the freedom to deposit and withdraw funds at your own convenience. In Belize you can bank on your own terms.
Savings on taxes is another major draw for foreign investors. As no taxes are levied on earnings from interest, you have a greater amount of funds at your disposal. Offshore investments in Belize accrue at a much faster rate than onshore investments as there is no capital gains tax. An offshore account at a bank in Belize also allows you to take advantage of the higher interest rates. The rates are fifty to 100 percent higher than in the US.
- New Financial Opportunities
An international banking account in Belize brings previously inaccessible markets within your reach. This allows you to take advantage of many new lucrative markets. This is not possible with U.S., European or Canadian bank accounts. Reputed Belizean banks also have financial experts, who can be called upon to give advice on the best course of action for maximum returns. For instance, a mutual fund is a type of investment that carries almost no capital gains tax. The income earned from such an investment is also tax free.
Property and Asset Management
Belize is rapidly emerging as a hotspot for real estate investments. Maintaining an offshore account in the country can offer a number of benefits to people owning property here. Such accounts facilitate the management of expenses like mortgage payments and utilities costs associated with the property. Quick access to funds while traveling, cost effective property management and convenient offshore investments – these are some of the key benefits of having an offshore account in Belize.