Offshore Bank Accounts In Belize And What You Can Get

If you are looking for a bank to open an offshore account with, then banks in Belize could be an ideal option. Belize offshore bank accounts are an ideal option for those who are looking for ways to save taxes on their income.

A number of offshore banks in Belize allow you to open offshore bank accounts. Some of these banks in Belize cater to offshore IBCs and non-resident customers. The most prominent Belize banks allowing the opening of offshore accounts are Provident Bank, Trust Company and Atlantic bank.

Belize has a small yet growing community of offshore banks. These Belize banks are offshore banks which are authorized by the Banks and Financial Institutions Act, 1995, and the introduction of the Offshore Banking Act, 1996, and the Money Laundering (Prevention) Act, 1996.

There are certain advantages of opening an offshore account in a Belize bank. The initial deposits are as low as US$1,000. The facility of internet banking is also available. Opening an account requires one bank reference and notarized passport. No apostille is required here.

The Atlantic International bank, an offshore bank in Belize, offers time deposits with minimum $20,000, personal savings accounts paying an interest of around 2%, demand deposit accounts with minimum $1,000, credit cards and investment/brokerage accounts. Offshore trust services, establishing International Business Companies (IBCs) are some of the other services that are offered to the clients.

The Provident Bank and Trust is associated with Glenn D. Godfrey. This bank was established in 1998. It claims that it has the largest offshore bank in Belize and controls 80% of the international banking business in Belize. It offers demand deposits with a minimum of $1,000, time deposits with a minimum of $25,000 and savings accounts with $5,000. It also offers credit cards, on-line banking and other services as well.

The BHI offers offshore banking services through the Belize bank limited. Offshore services in Belize provide account opening forms for offshore Forex funds. The company does not charge anything extra as it is a part of the offshore package.

Tax-free offshore bank accounts are opened in the name of your IBC. These are operated in almost the same way as onshore bank accounts. The payments can be direct credited or shift funds that can be brought in or taken out through online wire transfer. Accessing account balances and transferring the funds between accounts can be done online.

Brokerage accounts are also available with several offshore brokers. This enables you to trade in stocks, currencies, bonds, etc.

Some offshore banks may operate at lower cost rates and offer an interest rate that is higher than the rate in the home country. The interest is usually paid by offshore banks without deducting the tax. Some services such as anonymous bank accounts may not be available in those Belize offshore bank accounts offered by the domestic banks.