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Belize Offshore Banking

22 July, 2010

With the growth in international travel, and the increasing use of the Internet helping to manage businesses from afar, there has been a growth in offshore banking and offshore trusts. Offshore banking has been legal for many years and is used to manage offshore companies with reporting requirements on off shore accounts differing from country to country.

While the offshore jurisdictions offer extremely good levels of confidentiality they cannot offer absolute secrecy. All institutions have a legal obligation to report suspicions of serious criminal conduct. Some countries require residents to declare their income on a worldwide basis and tax is payable on all your income. There are many reasons for offshore banking; these include better returns and the ability to advance active business interests overseas from a zero tax jurisdiction with almost airtight confidentiality, minimizing tax liability, asset protection and estate planning.
Located in Northern Central America, Belize is a leading Caribbean offshore banking jurisdiction. Belize as a mainland country with hundreds of offshore islands offers unique advantages as a premier offshore banking centre. It is recognized worldwide as being one of the best tax havens for safe offshore banking and offshore accounts.
Offshore banking may have tax benefits, or a reduced tax liability, as well as high levels of confidentiality, security, convenience and global access. This means that you never actually have to visit the offshore bank. Banking can be done from anywhere in the world, via a secure Internet connection, secure email, post, telephone or an ATM card provided by the offshore bank.
We do recommended that clients personally visit the bank in order to make an assessment of the service provider, however this is not a requirement.
For more information on Belize banks please visit our page on banking in Belize.