Offshore Bank in Belize – Open an Account Remotely!

Belize offers excellent conditions for offshore businesses, trusts, holdings, foundations, and individuals with high net worth. The jurisdiction is also famous for its offshore banks, which offer a number of advantages compared to the banks in America or Europe:

1. Privacy. Your money in Belize belongs only to you.
2. Belize has zero taxation for non-resident companies.
3. There are no foreign exchange controls in Belize, which means free placement or withdrawal of funds from the account.
4. Safe investments.

What Are the Financial Advantages of Opening an Offshore Account in Belize?

The political system in the country is stable, and the local currency is pegged to the US dollar at a fixed rate. This means that your currency is safe, and the possibility of devaluation is minimal.

To protect your funds, it may be wise to distribute your assets among certain financial structures (such as IBCs or trusts) that are protected from lawsuits, judgments, and divorces.

Reserve requirements for banks in Belize are three times those in the US. The liquidity of the bank whose services are referred to in the current article is twice the required minimum required in Belize. This makes the financial institution very stable.

Let’s get acquainted with one of the most reliable banks in Belize:

• It has the status of an offshore center, which attracts specialists from all over the world who are ready to help you manage your funds. Wealthy individuals, trust structures, offshore and foreign companies can use the services of this offshore bank.
• Thanks to the tax-free policy, investors have the opportunity to accumulate much more funds for investment. In addition, there is a chance to earn quickly and safely offshore investments due to the absence of capital gains tax.
• The bank offers competitive interest rates for its depositors, opens up a world of investments that is closed to US clients and small investors in other jurisdictions.

Many people in today’s world associate offshore banks with money laundering or fraud. However, this is absolutely untrue about the financial institution whose services we offer. The bank carefully checks its customers and cooperates only with law-abiding citizens.

Offshore Banking Services for Corporate Clients and Individuals

The bank in Belize offers a wide range of services for foreign individuals, entrepreneurs, and offshore companies. Both private investors and foreign companies can request any of the available services of the offshore bank in Belize and inquire about the bank’s rates.

Accounts for Foreign Companies in a Belize Offshore Bank

Generally, the bank in Belize offers three categories of accounts for corporate clients or private entrepreneurs:

1. Simplified, which can be used by individuals and holding structures in order to diversify assets. This account is designed for a limited number of transactions and no more than two transfers per month.

2. Corporate (transaction) account is suitable for a foreign business operating in a low-risk environment in terms of its field of activity and the company’s home base country. The owners of this type of Belize offshore bank account have the right to make more than 5 payments per month and receive/send money to different countries.

3. Complex account in the offshore bank is designed for a large volume of transactions; it is the best choice for corporations with complex structures doing business in high-risk jurisdictions and / or performing some activities in high-risk sectors.

Let our specialists assist you in choosing the best service option for your needs and situation. You can get our experts’ advice online or in person. Use the contact info on our website to get in touch with us today!

Belize Offshore Bank Account for Individuals

It is possible to open a personal or corporate account in an offshore bank remotely, without making a visit to Belize. Document requirements are different, and the procedure may be both reduced (minimized) or full (with in-depth verification) – it largely depends on the type of applicant and their country of origin (country of residence).

To open a personal bank account in the offshore bank, you will need to provide the following documents:

• Filled out application forms for opening an account;
• Banking and professional recommendations for each account signatory;
• A notarized copy of the travel passport. If you do not have this document, you need to get it issued in order to successfully open a brokerage account.

If you decide to open a corporate bank account in Belize, the bank may request different documents, depending on the customer’s category and the desired account type. In 2023, document requirements for foreign companies may change, but generally the bank in Belize has been requesting the following papers for opening an offshore account:

• Certificate of company registration;
• Memorandum and Articles of Association;
• Register of Shareholders, Register of Directors, Certificate of Shares, Certificate of Good Standing.
• Web site. If the company is new and does not yet have a website, then a detailed business plan must be provided;
• List of customers and suppliers, as well as proof of company management identity (passports) and proof of address (utility bill going back no more than 90 days);
• Letter of recommendation from a local bank.

Prepaid VISA Card

The bank in Belize offers to purchase a prepaid VISA card. This is a very convenient option if you urgently need additional funds.

Features of the prepaid card:

• Up to $20,000 USD can be transferred to the card;
• The card can be used worldwide, wherever the VISA logo is present;
• Cash withdrawal is available in all ATMs around the world;
• Account statements are available via email.

On-Demand Deposit

In addition to all the above-mentioned products, the bank offers to place your funds in an on-demand deposit with a fixed annual rate, which will allow you to earn interest on your money.

• Available deposit currency: a multi-currency account;
• The minimum amount to open a deposit: $1,000.00;
• Term of placement: unlimited.

Belize offshore bank charges the following fees for running the on-demand deposit: $100 – entry fee, $250 – FATCA fee, and $14.50 – monthly maintenance fee.

Fixed Rate (Fixed-Term) Deposit

Another way to receive passive income on your savings deposited in an offshore bank in Belize is to start a fixed-rate fixed-term deposit.

• The minimum deposit is $25,000
• The rate is fixed and depends on the size of the deposit and the term, which can be set by the client from 1 to 5 years (with the rate varying from 1.75% to 3%).
• The frequency of interest payments is also configurable – monthly, quarterly, annually, etc.

Belize offshore bank charges the following fees for fixed-term deposits: $100 – entry fee, $250 – FATCA fee, and $14.50 – monthly maintenance fee.

Important to note: the bank in Belize is safe and secure; it can become your “wallet” for storing capital and using it in your life and work. Government agencies conduct regular audits to make sure that all the transactions carried out by the bank are legal.

Belize Offshore Bank Rates

On-Demand Deposit and Lifestyle (Savings) Accounts:

• Application fee (new accounts) – $100;
• FATCA fee – $250.00 (only for accounts subject to FATCA requirements);
• Corporate, personal and joint accounts – $14.5 monthly service fee.

Bank Transfers:

• Outgoing payments – $100.00;
• Incoming transfers – $10.00;
• Domestic transactions between offshore bank accounts in Belize – $5.00;
• If it is impossible to submit a request from the bank to the recipients on the incoming / outgoing transactions – $ 10 + commission of a foreign bank;
• Transfer tracking fee – $35.00, plus foreign bank fee.

Operations with cash at the Belize offshore bank:

• Cash deposits (require 2 business days’ advance notice) – 3% of the deposit amount;
• Cash withdrawal (require 2 business days advance notice) – 3% of the withdrawal amount.

Payment Processing:

• Checking deposit verification –$15.00 verification clearing fee plus bank charges ($33.00 + 1% of check value);
• Payment to local recipient – $10.00 plus local delivery;
• Bank/cashier’s checks – $25.00 plus shipping charges;
• Return check – $25 plus foreign bank fees;
• Cancellation of payment – $25 plus foreign bank fees;
• Verification of funds sent for collection – $50.00 plus foreign bank fees.

General Banking Operations (Services and Fees) in Belize Offshore Bank:

• Withdrawal of funds from the initial deposit within up to 30 days – 1.8% of the withdrawal amount (no less than $25);
• Accounts being inactive for 24 months – $10.00 (annual fee);
• Accounts being inactive for 36 months – $20.00 (annual fee);
• Closing an account within 6 months from the opening date – $25.00 plus the cost of transfer (by check/telegraph).

Other Bank Fees:

• Courier international delivery of documents – from $50;
• Courier delivery (local) – from $10;
• Instant statement or copy of statement – $5;
• Copies and bank certification of original documents – $50;
• Letter of recommendation – $25 each;
• Statement of balance or interest paid – $25 per document.

Please note: closing fixed-term deposits involves a penalty for early account closure – 1% (no less than $500). Bank commission in Belize for issuing a loan – 1.875%, minimum $500.

Have you decided to open an offshore bank account in Belize? Email us at info@offshore-pro.info to get a consultation from our experts.