5 Reasons to Open Offshore Private Accounts

An offshore private account can be a beneficial banking option for people from around the world. The advantages of this account include a reduction in financial vulnerability, new investment opportunities, the potential for long-term planning, fewer taxes and a way to avoid government intervention.

Making Offshore InvestmentsA private offshore bank account is a fantastic financial option for those who want to protect their assets and diversify their holdings. Offshore, in this sense, typically refers to an international destination, and a private account is different from a corporate or business account. If you are still undecided about whether an offshore private account is right for you, learn more about the five biggest advantages that they can offer.

Get Rid of Government Intervention

For many, the primary reasons to seek out a private account offshore is to take back complete control of your financial assets. In North America, the government may be able to freeze assets or learn about your financial movements. If you would prefer to remain anonymous when banking, keep your finances private and get rid of government intervention altogether, then a private offshore account may ideal.

Reduce Your Taxes

Taxes are a constant almost everywhere on the planet that you or your money goes, but there are several ways that you can legally reduce the amount you are required to pay. By keeping high-yield assets in a private account in Belize, for example, you can eliminate capital gains tax, which is nonexistent for foreign investors in the country of Belize. 

Reduce Your Financial Vulnerability

It would be inadvisable for anyone to place all of their wealth into a single bank account or invest into a single company’s stock. Despite this common knowledge of diversification being key, many people still make financial decisions that leave them vulnerable. Investing geographically, which can include private offshore bank accounts, is a way to reduce the potential for vulnerability and spread out the risk of your portfolio.

Create a Plan for Retirement or Your Estate

Offshore private accounts can be used for a number of purposes, but there is no question that many account holders choose them specifically for long-term plans. If you are not yet at retirement age, but you are eagerly looking ahead to that stage of life, an offshore account might be the right step to help you financially prepare for retirement. Estate planning through managed trusts and funds may also be something you want to do in order to financially care for your friends, charities and loved ones in the future.

Explore New Types of Investments Around the World

Finally, it is worth noting that offshore private accounts can be a gateway to new adventures, experiences and investments around the world. Your offshore account might serve as your travel fund to spend a month relaxing in the sun in Belize, or you could use it to purchase international real estate and an investment property. However you are interested in financially expanding, an offshore private account can be a tremendous asset.

These five reasons highlight the appeal of opening up your own offshore private account. Click here for additional information on how to get started and open up your own account today.




More Posts

An Introduction to Offshore Investing

Offshore banks, such as offshore banking services in Belize offer many investment services, including expat accounts. Online offshore bank accounts in Belize provide flexibility and faster access to assets. Learn how easy Belize offshore investing can.

Read More »

The Benefits of Offshore Asset Protection Trusts

With the national debt tripling, home values waning, potential tax increases on the horizon, and uncertainty as to when the state of the economy will improve, you have probably considered offshore options for protecting your wealth. Offshore trusts have become a smart and strategic method of asset protection for many Americans.

Read More »

Trends and Forecasts in International Banking

For a number of reasons, the future of international and offshore banking looks like it will continue to be strong. An increasing number of investors are concerned about currency devaluation and the security of their domestic banking system, which can lead to more diversification in banking as well as a desire to invest in tangible things like real estate or gold. Another trend will likely be the desire to seek out international banks in countries with limited or nonexistent taxes for foreign investors. Finally, the desire for privacy and anonymity in banking could push more investors to offshore banking.

Read More »

Send Us A Message