Investing in Gold Offshore with Belize
Gold Market Activity
During December 2013, the new chairman for one of the largest Chinese gold exchanges in the world claimed that despite the price of gold falling, prices have been more volatile, and the spreads have widened.
The chairman believes gold investment has promising potential in the consumer market. Gold’s price has already increased by around 14 percent during 2014.
The mining companies FTSE Gold Mines index has increased by 25 percent since the beginning of the year. The price of gold declined by 28 percent during 2013. The recent decline was the largest since 1981, and 2013 was gold’s first down year in over 10 years. Barclays Capital expects gold to be around $1,260 per ounce during the last quarter of 2014.
Banking in Belize
Many people choose Belize as a destination because the country believes that minimal taxes are best for maintaining healthy income levels. Belize allows the administration and management of a mutual fund in the country to operate remotely from anywhere in the world.
Private, public and professional mutual funds are all popular in Belize. Some of the investments common in Belize include growth and income funds, global equity funds, high yield funds, corporate bond funds and other precious metals. There are banks in Belize that have been open for over 100 years.
Choosing Gold Investments
Gold-related funds have begun to rebound after having a rough year in 2013. Some fund managers are more bullish on mining firms over mutual funds due to their higher volatility. The First Eagle Gold fund currently invests around 18 percent of its assets in bullion and almost 80 percent of its assets into mining stocks. Fund managers also have mining stocks because many of them pay adequate dividends.
Gold mining stocks were losing over $300 million every two months during 2013. However, the gold mining group took in over $300 million during the first two months of 2014. Some industry experts believe that fear regarding the conflict in Ukraine has helped drive up the price of gold recently.
The International Foundations Act of 2010 permits individuals who are not residents to own assets in a foundation or investment that is not located in Belize and have beneficiaries — who also do not have to be residents of Belize.
People who are interested in investing or banking offshore may benefit from consulting with a financial professional or broker who has experience navigating the most recent legislation that guides the international rules and regulations of the industry.