Offshore banking is on a rising upward trend that many foreign investors are keen on today.
The lucrative benefits that one can grab by opening an offshore bank account are endless. Right from international trading to entering into the forex market, a business owner holds multiple grounds to earn higher profits.
Are you planning to open an offshore bank account?
If yes, you must get different opinions about where the best tax haven is or where the banks are much eager to get more foreign investors.
Belize is usually chosen for offshore banking by sharp and intelligent investors. In this blog, let's take a walk through the Belize offshore account.
1. Stable Currency
Belize is a country with a stable currency and a stable economy. The stability starts with its currency, i.e., the Belize dollar. The comparison of the same to the United States dollar is at a rate of 2:1, i.e., USD 1 equals BZD 2.
This ratio will remain the same whether you convert your dollars this year or in the next year. Hence, global investors look out for tax-haven jurisdiction like Belize to open their bank account to minimize their risks.
Global measures ensure that whosoever opens a bank account in Belize; / does so legally.
Once your account is opened, the bank will have already done all its formalities to ensure that you are who you have mentioned being.
Belize is known for strongly protecting its account holders, and all tax guidelines are also strictly followed.
Be it offshore banking or starting an offshore company in Belize, secrecy plays a major role and stands as the top three parameters that provoke an investor to come forward and invest in.
3. High Liquidity Requirements
The banks don’t always need to reveal their liquidity rates to the public, making it tough to know which banks are the most stable.
Belize has one of the highest legal rates of liquidity in the world. In the US, banks are required by law to have liquidity rates of five per cent.
However, in Belize, every bank is legally compelled to have liquidity rates of at least 24 per cent, which is four times more than that of the US.
4. Asset Protection
There is a risk in this modern world that your assets can be seized against your company because of a case.
If you want to protect these assets better, Belize is the place to open an offshore bank account.
Belize is one of the best places to protect account-holders.
In Belize, asset protection can also be achieved by other measures such as establishing trust. This protects your assets from any judgments or claims.
Today, business owners prefer to open an offshore company for managing their assets and wealth. Here’s a guide on the Asset and Wealth Management Offshore Company in Belize.
5. Opportunities for International Investment
Banking in Belize stands out because there are so many different opportunities for international investments. Investors may wish to set up an International Business Company (IBC).
They may also think of investing in real estate, provided the property prices are affordable. If you open a bank account in Belize, it will be easier for you to purchase property in the country. You may use that property for your personal use or a long-term investment.
Offshore banking in Belize is much safer than domestic banking. The very clear evidence lies in the country's banking laws. These laws not only emphasize protecting their residents' interests but also offer a well-structured framework for their clients who are non-residents of Belize.
Belize works under the legal provisions of the country, ensuring high safety for non-residents.
7. Ease of International Banking
Sometimes the customers lose interest if international banking consists of too many multiple and complicated steps. But this is not the case in Belize. Belize allows for easy offshore banking in terms of opening and managing offshore bank accounts.
Belize offshore banking is pretty straight-forward. All offshore banks in Belize are heading to digital banking to keep in line with the modern world.
8. Low Deposit Required
The deposit required in most offshore banks in Belize is relatively much lower than in other countries. A deposit as low as $500 is required for opening a bank account in Belize. In addition to that, most offshore banks in Belize do not require the person's visit to open his/her account. This makes Belize a very good place to open an offshore bank account.
9. No Language Barrier
English is the official language in Belize. So, language is not an issue for anyone. In addition to that, Belize is worth considering the option for international investors. As there is no language barrier in Belize, offshore banking would be an effective vehicle for finance management and development.
10. Rising Tourism
Tourism is rising rapidly in Belize. This can be beneficial to all those who are thinking of opening an offshore bank account here. With rising tourism comes more opportunities for investments and for-profits too.
More tourism leads to greater infrastructure growth, which increases the long-term stability of the country as well as the banking system.
It is recommended to open an offshore bank account at the initial stage of company incorporation. Are you wondering why?
Well, here’s a guide on the Benefits of Belize Company Formation with Bank Account.
We hope that all the above information will give you a clear picture of why it is so advantageous to start an offshore bank account in Belize.
Are you ready to open an offshore bank account in Belize? Business Setup Worldwide is a platform to guide you through this. If you need any assistance, then you can contact us-we’d be glad to assist you!