Using International Banking in Belize to the Best Advantage

International Banking in BelizeIt’s easy to find plenty of offshore banking options. The savvy investor can pinpoint key countries with liberal banking laws and find a number of account options worth considering. Over the last couple of decades, the country of Belize has become a viable option for investors who want to establish international banking accounts.

The fact is that the banking environment within this country is conducive to attracting clients who want international accounts for just about any purpose, up to and including serving as the basis for offshore investing.

The Banking Climate in Belize

Formerly a colony of the United Kingdom, Belize received independence in 1981. In the years following, the development of a robust banking structure has emerged. One of the key elements in shaping that structure is the Trust Act of 1992. This legislation paved the way for Belize to become one of the most viable places for investors to enjoy asset protection. Thanks to this and other laws passed along the way, the domestic and international banking system within the country offers opportunities that investors would find it hard to enjoy in another offshore setting.

Attributes of the Banking System

There are a number of characteristics associated with the banking system in Belize. The flexibility of the trust laws makes it very easy for investors to structure trusts so that they can enjoy the most benefit from the investment vehicles. This attribute alone would attract a number of international investors, but there are other benefits that the country also provides to its international clientele.

Tax obligations are always a point of consideration when engaging in international investments. Along with assessing the impact of those investments on domestic tax debt, there is also the matter of paying taxes to the country in which the investment opportunity is based. Belize has offered a wide range of exemptions from local taxes that virtually eliminate the tax burden for international clients. This means that they can focus more on honoring their tax obligations to their countries of origin and not have to be worried about paying an exorbitant amount of taxes to Belize.

Registration costs is also another aspect that makes Belize an ideal international banking jurisdiction. In many nations, registration costs are necessary in order to open accounts and do business within the borders of those countries. Belize has created a friendly environment in which those registration costs are no longer an issue. This means that the cost of establishing accounts in the country is considerably less than the cost associated with setting up accounts in other nations.

Robust Banking Options

The banks that are based in Belize also use cutting edge technology in order to accommodate their customers. As is true with many offshore locations, you will need an agent to help you establish your accounts. Once that process is completed, you can continue to communicate with the agent and manage your accounts in that manner. You also have the option of visiting the country from time to time and conducting your banking in person.

In the interim periods, you can access your accounts remotely. Using unique login credentials, you can access the secure servers used by the banks and view up to date information on all your bank accounts. Belize banks are serious when it comes to security measures. This is to your advantage, since it means they take practical steps to protect you, your information and your accounts. Their practices are in line with governmental regulations that provide plenty of protections for investors and also allow serious penalties for anyone who is found guilty of bank fraud.

Choosing Belize as your international banking home by visiting just makes sense. Between the benefits afforded to depositors and the level of protection provided, you can rest assured your money is safe.  

About this author

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.