As Chairman of Caye International Bank, Joel Nagel brings not only solid international legal and banking experience to his role but is invested in the bank’s success within the greater community in which he has served for many years. Born and educated in the United States and Europe, Joel’s career as an attorney specializing in international asset protection and global commercial transaction structures has provided a wealth of experience in his role as Chairman of one of Belize’s premier banking institutions.
Caye International Bank – Structure, Stability, Security
Joel knows that the foundation of a strong bank and financial institution rests on the reputation of its services and its people. The decision to open a bank in Belize was based on Joel’s many years of experience as an attorney and entrepreneur/investor in the region.
Belize is an obvious choice for a bank with a focus on private banking, mortgage finance and investment opportunities: the government of Belize is a stable and growing democracy with a zero-tax regime and is considered by many investment banks in the United States and Europe to be a preeminent international jurisdiction for banking in the Caribbean and Central America. Caye International Bank, Ltd., was honored in 2017 as the best private bank in Belize.
Banks in Belize and Caye International Bank in particular, offer more than a haven for international funds. The banking code in Belize ensures global (especially US) tax compliancy, asset protection and the ability and opportunity to invest in entrepreneurial ventures in the region. With an ever-increasing agenda of de-risking by the United States, banks in Belize have ensured that all channels are secure and stable.
Caye International Bank, Ltd. was the first bank in Belize to become United States FATCA compliant. Customer service at Caye International Bank is based in understanding what customers need and each banking relationship is unique, private, and personalized. As the only international bank headquartered on the island of Ambergris Caye, Caye International Bank has a license to work with both corporations and individuals from around the world, to provide international banking services.
Why Bank Offshore?
With a zero-tax regime, no exchange controls, and full confidentiality, it makes sense to diversify a local portfolio of assets and to include an international component. Stability and security are ensured by the government by insisting on a reserve requirement for banks of 24% which is over three times what is required in the United States. Caye International Bank holds an average double the reserves that are required by Belize. When choosing an international bank, look to the investment profiles and experience of the bank and its officers to understand how your offshore assets will be managed.
Joel Nagel – Thirty Years of Experience
An internationally educated attorney, Joel Nagel studied in the US and Germany and is currently a member of the American Bar Association and Founder of the boutique firm Nagel & Associates. He has served on the board of over 15 companies and is well-known for his work in structuring several hotel investments in the Caribbean for international development companies including a 200-room branded hotel in Ambergris Caye. Nagel was one of the pioneers for the licensing of international legal structures in Belize, including banks, trusts as well as hedge funds, mutual funds, and insurance companies.
Joel Nagel has been involved in a variety of philanthropic activities. He has been a member of Rotary for over 25 years, serving as the President of the Pittsburgh Rotary Club, District Governor for the Rotary Clubs in Western Pennsylvania and the organizer and founder of the Ambergris Caye Rotary Club in San Pedro, Belize.
In his positions with Rotary, Joel developed the concept of building off-the-grid health clinics in Nicaragua, called the Roberto Clemente Health Clinics (honoring Pittsburgh Pirate baseball player Roberto Clemente who died delivering medical relief supplies to Nicaragua after the Earthquake of 1972). To date, Nagel in conjunction with Rotary have built three clinics in Nicaragua.
He has also served as Board Member and Secretary for the Violetta Chamorro Foundation and the Nicaraguan Development Corporation.
Mr. Nagel started the annual “Shark Tank Belize” program to help fund promising Belize start-up companies, and sponsors the annual Christmas Toys Distribution Program together with the Living Word Church in San Pedro, Belize.