Offshore banking is an opportunity for wealthy individuals to grow what is known in the financial industry as generational wealth in a financially optimal environment. The government of Belize does not charge income tax. Belize presents an ample opportunity for high-net-worth individuals to enjoy the comforts of offshore private banking while keeping more of their money from the wasteland of taxation and inflation. The focus then turns from fear to joy. Have fun investing money and building a wealth management plan in a location that values and respects people’s money. Aside from true privacy, taxes and inflation, investors are also interested in diversification. There are plenty of opportunities to diversify investments. Check out the blog about Who Needs Offshore Accounts to learn more.
Variety is the Spice of (Money’s) Life
As discussed in the blog Uncover Options for Investing Offshore, there are plenty of places to let money play in the markets — big and small. For one, many investors take part as venture capitalists or as angel investors. Others prefer to dabble in that and real estate or invest in their own new offshore business.
Not all investors want to continue working so hard with their money. Some want to relax and protect their assets. One way to do this is to have an international variable life insurance plan in place. The investor, or benefactor, designates beneficiaries who will receive the proceeds of the insurance at the time of death.
Insurance Wrappers and Other Protection
Taking the leap into uncharted waters for investors yields even more surprise benefits. When buying variable universal life insurance policies, look into adding insurance wrappers. This product protects the assets of a VUL plan from creditors and judgments. Other than this, look at the opportunities to invest in currency, stocks, mutual funds and other “regular” investment options.
Find specialized professional investment and financial advisers who know how to manage portfolios for the wealthy. They may make suggestions to build wealth steadily and protect you from market fluctuations.
Meet Daily Banking Needs Overseas
In addition, they are equipped to assist their customers with the day-to-day banking. This might include opening offshore bank accounts, such as savings and checking accounts. Having an offshore bank account is covered in this blog: Why You Need an Offshore Saving Account.
The benefit that tops the list for having an offshore bank account depends upon the customer. The accounts that are available 24 hours a day and seven days a week online or at an ATM allow great flexibility, accessibility and convenience. Privacy, tax savings and more investment opportunities are among other reasons people bank offshore.