| A simple aspect of offshore banking is seen in | | | | the offshore location. Also offshore locations offer |
| offshore savings accounts. In many tax advantaged | | | | confidential, secure and convenient banking with |
| locations interest on deposits is not deducted. Although | | | | access to your account from anywhere on earth. |
| the saver may need to declare savings interest "back | | | | These banks allow you to set up your accounts and |
| home" the ability to let savings compound throughout | | | | do all of your banking on the internet. You never need |
| the year on the untaxed balance will increase the | | | | to visit the bank. |
| return on your savings. | | | | Many companies offer services and will help you |
| Interest on a certificate of deposit may be paid | | | | choose a bank offering exceptional privacy and asset |
| quarterly offshore but not be taxable in your home | | | | protection. Besides the advantages of banking tax |
| jurisdiction until you return the money to your home | | | | free the banks will guard your privacy so that you can |
| jurisdiction. | | | | do business anywhere in the world without the world |
| Tax laws will vary from country to country and from | | | | looking over your shoulder. |
| offshore jurisdiction to offshore jurisdiction. However, | | | | How Is a Belize Bank Account Taxed? |
| banking in tax advantaged jurisdictions will usually save | | | | The answer is that a Belize offshore bank account is |
| you money. | | | | not taxed in Belize. Depending upon the tax laws in |
| If you allow your savings account to accrue over the | | | | your home country you may have a tax liability there |
| year and pay taxes "back home" only at year's end | | | | but income from your Belize account is not taxed and |
| you will make a higher compounded rate throughout | | | | not reported to anyone except you. |
| the year with will in turn accrue over the years ahead | | | | Interest on money in your Belize offshore bank |
| of what you would have seen with an account that | | | | account is paid without deducting for taxes. Belize |
| stayed in your home country. | | | | banks deal with you and not the government of your |
| This same principle can apply to trusts, off shore funds, | | | | country. As such you may or may not have a tax |
| and investment bonds as well. If you are uncertain | | | | obligation "back home" but that is not the business of |
| about the tax laws in your home country talk to your | | | | your overseas banking partner. |
| accountant. If you want to find a stable, trustworthy | | | | You can bank online and carry a debit card for your |
| offshore banking jurisdiction you should talk to an | | | | account and use it anywhere in the world. You can |
| offshore specialists about this. | | | | transfer money in and out of your account in complete |
| Offshore funds, trusts, and investment bonds may be | | | | security and privacy. Your business is with your bank |
| treated the same way depending upon your country | | | | and their business is with you.. |
| of origin. In this case interest compounds tax free and | | | | Offshore Trusts |
| is not taxed offshore upon withdrawal which is when | | | | If you would like to put money in trust for your |
| the income from the investment vehicle will typically be | | | | grandchildren consider an offshore trust. Depending |
| taxed back home. | | | | upon your tax jurisdiction there may be a substantial |
| These any many other advantages becomes | | | | tax advantage in going offshore. Depending upon your |
| available by going off shore. Then the next question | | | | home country and the offshore location you choose |
| arises, about where and how to invest and save in tax | | | | results will vary. |
| advantaged locations. | | | | Offshore banks offering trust services in tax |
| Belize Offshore Banking | | | | advantaged jurisdictions will typically have minimal |
| Opening an offshore bank account in Belize is easy. | | | | taxation on trust income. The value of the trust will be |
| You do not even need to go to the bank. You can be | | | | allowed to grow and compound unencumbered by the |
| introduced to a reputable, competent, trustworthy bank | | | | level of taxes you might see "back home." When the |
| in Belize. You can set up your account online and by | | | | trust money is made available to your grandchildren is |
| fax. | | | | typically when taxes will be taken out. |
| Belize has local, Belize banks, and international banks | | | | Talk to your accountant or tax lawyer about tax laws |
| doing business in Belize. An offshore specialist cn | | | | in your home country. Talk to the specialist about the |
| easily help you with the right banking choice for your | | | | advantages of offshore banking, trust accounts, and |
| needs. The banking guidelines in Belize provide you | | | | other savings vehicles in tax advantaged locations. |
| with unparalleled privacy and security in handling of | | | | Another option instead of a trust is an offshore |
| your accounts and transactions. | | | | foundation. Again, good planning with good council will |
| In order to open an account in you need only provide | | | | reap the best rewards. |
| your full name and a copy of your driver's license or | | | | Many people see this as a shady operation and many |
| passport, proof of your address, a utility bill for your | | | | myths comes alive remembering good old James |
| address, and a reference from your current bank. | | | | Bond movies where money is transfered in a split of a |
| Ideally you will need to have had a two year | | | | second by just pressing a button where the bad guys |
| relationship with the bank that provides your reference. | | | | retreat under the palm trees on some desolate island |
| Although the bank will need this information to open an | | | | in the Carribean ocean, for then moments later beeing |
| account your personal information is not available to | | | | caught by the good guy. |
| third parties without your knowledge and consent. | | | | Tax planning and saving for the future is legal. Tax |
| You can do all of banking with your Belize offshore | | | | evation is not. There is a lot in it for a lot of private and |
| bank online from anywhere in the world. | | | | corporate individuals. It is a myth that this is only for the |
| Offshore Banking | | | | high net worth of clients. With the age of internet this |
| This simply means that you bank in a country outside | | | | has become available to people all around the world. |
| of your own. Banking offshore usually offers tax | | | | And the offshore banks keeps their doors open, |
| advantages as offshore bank interest is not taxed in | | | | welcoming both you and me. |