For a variety of reasons, investors and account holders from around the world gravitate toward Belize. Since the entire country is a tax-friendly jurisdiction, those who opt to have accounts and investments in Belize may be able to save a lot when it comes to tax time at the end of the year.
Plus, Belize may offer greater security and diversification, leaving your assets less vulnerable in the future. If you know that you want to find a Belize bank, but you aren’t quite sure where to start, keep these five factors in mind.
1. A Bank That Fits Your Financial Profile
First and foremost, you will want to locate a bank in Belize that fits in with your finances. Some offshore banks, particularly in Belize, have minimum balances needed in order to open an account.
If any one bank located in Belize appeals to you, take a look at their website in order to find out the financial prerequisites. As long as you will be able to meet these initial deposits or annual balances, then you can move on to the next item on the checklist.
2. A Bank With Online Services
Unless you live in Belize or plan to make frequent visits to the country, having access to your bank accounts online will be a tremendous advantage. Whether you are a business traveler, you live in a timezone incompatible with the timezone in Belize or you simply want the flexibility to transfer, deposit and withdraw at a moment’s notice, look for a bank that offers online services for its customers.
3. A Bank That Offers the Financial Services You Need Most
Not all banks offer the same financial services. Some banks may provide just offshore checking and savings accounts for customers, some offer a range of estate planning and investment options and still more offer things like prepaid MasterCard services that can be used globally. Think carefully about what services you need most from your Belize bank and then ensure that your top pick offers them all.
4. A Bank With an Ethical Code
Some people are worried that offshore banking means flirting with illegal activity, but that couldn’t be further from the truth. By picking a bank in Belize with a strict ethical code, and in particular one that stands against money laundering, you can rest assured that your money is safe and the financial institution you are dealing with is reputable and secure.
5. A Bank Offering Exceptional Customer Service
Most banks in Belize have staff who speak perfectly fluent English, which is a great advantage when compared to some offshore banking locations. However, look beyond just language when considering communication with banking professionals.
Ideally, you would find a bank home to helpful employees who are willing to communicate with you in your preferred medium, even outside of business hours, to deliver exceptional service.
Finding the right bank in Belize may feel overwhelming at first, but it can be the first step toward a more secure financial future for you as well as your loved ones.