Offshore banking is a popular choice for savvy individuals and corporations who want to do as much as possible to protect their wealth, help it grow and keep it safe. While you can open up an offshore account in hundreds of different destinations around the world, a Belize bank may be the best option for your finances. Learn more about why a Belize bank account could help you better protect your money.
Reduce Your Tax Liability
You might choose to open up a bank account in Belize for a number of reasons, but one of the biggest advantages will typically be a reduction in taxes. Even if you currently pay taxes in your home country, moving assets to an offshore destination may mean that you can pay substantially less each year.
This is especially true when your investments are made in Belize, where foreign investors pay a zero percent capital gains tax. By spending less annually on taxes, you can watch your account balance climb and your net worth soar.
Diversify Your Holdings
If you currently keep all of your assets in a single bank or even a single country, you could be increasing your level of risk. Diversification is key when it comes to managing your finances, and branching out to a new geographic location can be a simple and effective way of mitigating risk.
Should your primary accounts in one nation fail because of a government shutdown or even a banking failure, your other assets stored in a different country will still be safe, providing you with financial security in a challenging time.
Discover a Range of Bank Services and Account Types
Once you have determined that opening up an offshore account is integral to your financial plan, it is important to pick a destination where banks offer a range of services that best meet your needs.
Belize banks like Caye International Bank offer 24/7 online banking, loans, prepaid MasterCard options, corporate accounts and a variety of additional services to choose from.
Communicate Easily With Bank Staff
Communication is key for many account holders, particularly if there are substantial investments involved. A Belize bank may be perfect for these investors because staff employed at these banks typically speak perfect English.
Plus, Belize is in a similar time zone to much of North America, which makes it easy to catch a financial expert during work hours. Belize bank staff also communicate vie email, online chat or over the phone, giving you the freedom to choose the best medium for your communication style.
Pay Fewer Overhead Fees
Belize, as a country, has a lower cost of living than many other destinations in Europe, North America or Asia. As a result, labor and overhead costs are much lower for banks in Belize. These savings get transferred to account holders through lower loan application fees, annual maintenance fees and various costs.
Opening an account at a Belize bank can bring about a number of positive changes to your financial status, and it can also give you peace of mind about your holdings.