A Retiree's Guide to Banking in Belize

Retirees who want to bank in an offshore destination have a number of choices, but one of the top picks time and again is Belize. From a stability standpoint, the local currency of Belize is tied to the American dollar, making it a smart option. In addition, banking fees and overhead costs are low, helping retirees to retain as much of their total holdings as possible. Since Belize is close to the United States, many retirees even choose to live there and enjoy the low property prices. Finally, there is no capital gains tax in Belize for any foreign investors or retirees.

For decades, retirees have been catching on to the advantages of banking offshore during their retirement. During this stage of life, most people are eager to protect their assets, spend as little as possible on banking maintenance and overhead fees, provide for their loved ones in the future and still manage to enjoy a relaxing way of life.

For these reasons and many more, offshore banking is a top pick. However, with so many potential destinations to choose from, you might wonder why banking in Belize is such a popular option. Find out more about the appeal of banks in Belize for retirees from around the world.

Low Cost of Living—Low Banking Fees

One of the biggest factors in selecting the right bank or the right global destination for your retirement bank accounts are the average banking fees.

These fees are the expenses you’ll have to pay for things like maintaining an account or managing a trust fund, and they can vary considerably depending on the bank location’s average cost of living.

In places like Belize, where the cost of living is still quite low, these fees are minimal and can help you protect your assets.

No Capital Gains Taxation

Turning a profit on an offshore investment is generally considered good news, but it can be frustrating to subtract from your profits when it comes to capital gains tax. In Belize, there are no capital gains taxes for foreign investors. This translates to greater profit potential on your retirement investments and a greater chance of growing rather than subtracting from your net wealth.

Proximity to the United States and Affordable Real Estate

Logistically, Belize is a fantastic location for banking during retirement. Any retirees who want to move overseas and enjoy an affordable place to live that offers warmth, beauty and a vibrant atmosphere would be hard-pressed to find anywhere better than Belize.

Since it is so close to the United States, offers a fantastic healthcare system and is still one of the cheapest places on Earth to buy beachfront property, Belize and its banks are ideal for retirees.

Government and Banking System Stability

Finally, there is no question that stability is a major motivator for retirees. Thankfully, Belize is a destination with both a stable economy tied to the United States dollar and a reliable, non-intervening government, both of which are vital to an investor’s peace of mind.

Belize is a top pick for a number of savvy retirees. Dive deeper into the appeal of retirement banking in the country of Belize.

Caye Bank

Caye International Bank Limited (CIBL) was granted an Unrestricted "A" Class International Banking License on September 29th, 2003 by the Central Bank of Belize and is regulated by the Central Bank of Belize which set the standards for liquidity and capital adequacy.

Get More Growth from Your Investments Banking in Belize

Opening an international investment account offshore in a Belize bank could provide the gains you are looking for in your investments. If changing tax rules or tax increases are worrying you and negatively impacting your bottom line growth, an international fund could be a great solution. Having investments in multiple locations decreases your financial vulnerability. Opening an international account in Belize is smart, convenient and easy. Whether you are looking to save money and grow your net worth through lower fees or just to obtain peace of mind, opening an international bank account with a bank in Belize can give you both.

Could International Investments Boost Your Financial Standing?

International investments can help you improve your financial standing by safeguarding your assets for loved ones, limiting tax erosion, offering new risk levels and profit potential and adding geographic diversification to your portfolio.

What Can You Do With Private Offshore Accounts?

With a private offshore account, you can have more financial anonymity, access to multiple currencies, a secure retirement plan, lower taxes and greater diversity.

5 Types of People Who Need International Banking

International banking has a number of perks, and nearly every person can take advantage of these benefits if desired. However, there are definitely some demographics who can benefit most. Frequent travelers, whether for business or pleasure, can benefit from online offshore banking and access to foreign currency. Retirees living abroad will appreciate the international bank options, and investors can use their accounts to diversify their wealth. Budget-savvy individuals can spend less on overhead and maintenance fees for their accounts, and anyone paying extraordinarily high capital gains taxes may be able to secure completely legal tax breaks offshore.