The Basics of Offshore Banking in Belize
In the last decade Belize has emerged as one of the top international banking destinations. Increased international travel to the country and global accessibility provided by the internet are some of the reasons behind this. When banking outside the US in an offshore bank, convenience, confidentiality, security and tax benefits are some of the factors that people look for and Belize offers them all.
Opening an Offshore Bank Account in Belize
Offshore banking services are offered by a number of Belizean banks. Caye International Bank Limited is one of the most popular options. You can open an international account either through the telephone or the internet. To view a complete list of their services, visit http://www.cayebank.bz/services.php
The services offered vary slightly from one bank to another. USD $1,000 is usually the minimum deposit required for opening an offshore account. You will also need copies of documents like passport, previous bank statements, tax returns, reference letter from your existing bank and proof of address. The process of opening an account is simple and quick. Once the required documents have been submitted, it hardly takes a few minutes. Although personal visit is not a requirement for opening an offshore account in Belize, you may consider hiring a consultant to facilitate the process.
Why Opt for Offshore Banking in Belize?
Banking outside the US in an offshore bank in Belize can offer a number of advantages over investing in American, European or Canadian banks. One of the key benefits of having an offshore banking account in Belize is confidentiality. The no-tax policy in Belize offers complete confidentiality. In Belize your money is your business alone. Lack of government interference means less restriction and more privacy. You are free to put in and take out funds as per your convenience as there are no exchange controls.
Offshore banking in Belize also means considerable tax savings. The tax-free income accumulation under certain structures translates into considerable savings on taxes. This means more money for investment and higher returns. Moreover, in Belize there is no capital gains tax. This allows offshore investments to accumulate at a much faster rate compared to onshore investments. The rate of interest offered by Belizean banks is much higher, 50 to 100 percent higher, than in the US.
Access to new creative financial opportunities is another important benefit of banking outside the US in an offshore bank in Belize. Having such an account allows you to invest in new lucrative markets that are not accessible from the US. Reputed Belizean banks attract top financial experts from across the globe. You can consult them to clear doubts and ensure that you make profitable choices. You can be sure that the money in an offshore Belizean bank account is in good hands.
Moreover, Belize is a politically and economically stable nation. This means there is minimal risk of losing investment because of change of regimes or financial ups and downs. Offshore banking in Belize is a lucrative option for both small and large investors.
For more information on offshore banking, visit Cayebank.bz