Belize is a terrific offshore banking jurisdiction. Why would you want to hold your offshore bank account in Belize, and preferably in one owned by a trust or Foundation? 

First, creditors find a hard time seizing assets or money.  The Belizean banking laws are very tight, and the bank will not reveal your information to almost anyone if you're a law-abiding citizen. The bank must report to your stated place of residency. If your tax residency is properly established in Belize, Panama, or other jurisdictions that do not tax worldwide income, you are fully protected from paying worldwide taxes. 

Also, Belizean offshore banks are required to hold more liquid assets and are not subject to financial crises as much as lending institutions. For example, in the 2008 financial crisis, many offshore banks that did not lend for real estate did not suffer as much as European or American banks. Offshore banks make their money from fees and transaction costs, so they may have higher costs, but they do not generally invest in doubtful financial instruments and, hence, are less likely to go bankrupt.

Sadly, there are only a handful of international banks in Belize willing to work with foreigners. Indeed, most banks work with local clients and are called domestic banks.

We work with the best international offshore bank in Belize, which opens accounts quickly for Belize and international offshore companies.

The reason why Mundo has chosen to partner with this bank in Belize is that there is simply no better or faster banking option in this country.

Mundo is proud to be able to offer our select clientele packages of offshore bank account + corporate incorporation (contact us for more information right here)

Due to its small size, Belize is generally overlooked in the Central American region. An English-speaking, Westminster-style democracy is somewhat odd in Central America. But there's one more substantial reason why Belize stands out from its neighbors: its well-developed banking system.

It's good to ask why choosing Belize over Panama, which is also in the neighborhood. Belize offers the benefits of Panama without the complications, procedures, and in an affordable jurisdiction.

Moreover, Belize has even better tax optimization possibilities.

If this small overview has gotten your attention, let's discuss the details.

Belize's benefits

First of all, opening a bank account in Belize offers enhanced asset protection. In today's world, governments consider high net worth individuals, business people, and investors as easy prey. You cannot have too much asset protection if you are aware of this issue. Even the safest jurisdictions are facing such problems. You only need to see how China is intruding on Hong Kong to be aware of that fact. Guess what? Belize has one of the most solid asset protection frameworks in the world to safeguard the legacy you've built.

You know that diversification is a key asset protection strategy. You shouldn't put all your eggs in one basket. It's essential to diversify your assets in different jurisdictions, types of investments, and currencies.

However, accessing most of the first-level banking jurisdictions is usually an annoying and expensive process. But Belize is one of the major exceptions; it’s one of the easiest and soundest ways to help you improve your diversification strategy.

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Belize's stability

One of the main reasons why Belize is such a hyped jurisdiction is its legal framework. The best example of this is that the banking regulations oblige Belizean banks to maintain a 24 % liquidity ratio. This is significantly higher than in most countries.

Let’s explain this in simpler terms.

When you put your money in a bank, it’s a way to say you trust that institution. Nevertheless, as banks do other financial operations, such as loans and investments to be able to offer interests to their account holders, they don’t always have in hand all the money people deposit. That’s the liquidity ratio.

For example, if a bank says it has a 25% liquidity ratio, that means it can handily make use of a quarter of its assets. Nevertheless, in many countries, liquidity ratios aren’t regulated or the required ratio is quite low. That’s not the case with Belize, as banks are required to have almost half of their assets liquidly.

This regulatory environment has led Belize to be a first-level financial destination. Add to that solid AML and terrorist funding prevention regulations, and you can rest easy that your money is kept safe in a sound and trustworthy jurisdiction.

Most of your information will remain anonymous. You don’t need to reveal your registry or the names of the company boards, just to name one example.

Banks in Belize

There are two primary types of banks in Belize. You have the local commercial banks and offshore banks, regularly known as private banks. Offshore banking is somewhat new in Belize as the law that regulates it was created in 1996.

You can see all offshore banking laws in Belize in this link.

Foreign companies and individuals have no limitations to open bank accounts, even investment accounts, in offshore banks.

The high-liquidity requirements and the sound regulatory framework offer unparalleled stability, while interest rates are much higher than in most countries. That ranks fixed deposits and savings accounts in Belize right at the top of any offshore banking lists.

How to open an account in Belize

Opening a bank account in Belize is simple. The first thing you need to know is that you can do it remotely. Generally, you’ll need your passport, proof of residence, and a banking reference. Sometimes, you might be asked to provide personal references, too.

Usually, you can send your documents electronically for the evaluation of your profile and will only be required to send them physically via mail or via an authorized agent (like our partners) after you’ve been approved.

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What can we do for you?

We are registered agents in Belize for banking and corporate services. We work with one of the best banks in Belize that has won numerous awards for best private bank in Belize, Central America, and Latin America. Its stability comes from the fact that its liquidity almost doubles the one required by the Belizean banking laws.

We can help you open both corporate or personal bank accounts. In both cases, you can choose between a term deposit account, savings account, or private offshore demand deposit account.

The demand deposit account has a minimum opening balance of $1,000. You can open it in US dollars, euros, sterling pounds, Canadian dollars, or Swiss francs. It provides you with a 0.10% interest rate for balances between $10,000 and $100,000 and 0.15% for balances over $100,000.

The term deposit account has a minimum opening balance of $25,000. It’s only available in US dollars. It has a fixed interest rate of 2.25% for the first year, which can increase each year until reaching 3.50% in the fifth.

Lastly, the savings account comes with a minimum opening balance of $1,000 and is only available in US dollars. It has a bracketed interest rate system: 0.10% for balances under $25,000; 0.25% between $25,000 and $99,000, and 0.50% for balances over $100,000. Also, you will receive bonus interests every time you deposit $10,000 or more in a quarter.

Let’s start talking about the requirements. First, you should know that all documents must be in English. The bank takes about 20 days from the final submission of the documents to provide a response.

Corporate account

Opening a corporate account is a straightforward process:

1. Send the documents to our registered agent
2. Fill the bank forms and send us a scanned copy
3. Pass the pre-approval
4. Final submission of the application

You can see we work with a pre-approval system. What does that mean? Simple. We send your documents to the bank before submitting the application to see if they are interested in your profile. This enhances your possibilities.

We will need the following documents:

• For every ultimate beneficiary, signatory, director, official, and trustee: 
  • Notarized colored passport copy
  • Notarized copy of proof of residence (less than two months old)
  • Banking and professional reference
• Final beneficiary:
  • CV
  • Corporate documents
• Notarized copy of:
  • Incorporation certificate
  • Good standing certificate (if the company is more than one year old)
  • Act of the general meeting
  • Shareholding certificate
  • Power of attorney (if applicable)
• Simple copy of:
  • Acts and memorandums of association or statutes
  • Trust declaration (if applicable)
  • Brief business plan
  • Contracts, agreement with partners, brochures, invoices (if available)

Personal account

The process is quite similar:

1. Send us the documents
2. Complete the bank forms and send a signed scanned copy
3. Pass through the pre-approval process
4. Final submission of the application

We need these documents:

• Notarized copy of your passport or national ID
• Banking and professional reference letter
• Notarized proof of residence (less than two months old)
• CV

Do you want to know more about our banking services in Belize and our partner bank?

Enquire now!