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What Makes Belize Such a Great Choice for Offshore Wealth Building?

Contributed by Luigi Wewege At Caye International Bank
19 May, 2022


Seeking somewhere new to grow your money in? Luigi Wewege from Caye International Bank has eight great reasons why Belize is a perfect country for offshore wealth building.

The recent market fluctuations have shown most of us that financial security should be a priority. Even if you earn a modest income, now is the time to establish a strategy to save and grow your money.

One way to enhance your efforts is to open financial accounts offshore and use them to build wealth. Here are a few reasons why Belize is the perfect place to base those accounts.

Economic Stability

From an economic point of view, Belize has emerged as one of the most stable countries in the world. But this has not happened overnight. It's been a long road to reach a state where the country enjoys this type of stability.

This stability means that you can choose to open accounts with a bank in Belize and know that your money is safe. There will also be opportunities for investment that you can manage using the funds in those accounts. You could build wealth over time while keeping risk low with the right approach.

Bank Stability

It's not just the country that has a stable economy. Due to the way the banking laws are written, a bank in Belize may offer more stability than the one you currently use at home. This is one reason the country is a top location for establishing offshore accounts.

Several factors make Belizean banks so stable, but one that may interest you is the exceptional liquidity rate that the institutions must maintain. In many settings, including banks based in North America, the liquidity rate requirement may be no more than three or four percent. In Belize, that rate is 24%. It may interest you to know that some banks in Belize go beyond what's required and maintain higher liquidity rates. In other words, your money is protected.

Familiar Banking Options

If you browse the offshore banking options based in Belize, many will look familiar. You'll find checking and savings accounts. In like manner, you won't have any difficulty understanding the range of loans and other financing options available.

One thing that might surprise you is that many offshore accounts can be opened with relatively low balances. You can begin with a modest amount and gradually increase the balances over time. This is an excellent approach for those who must work within a middle-class income bracket as they seek to build wealth.

Competitive Rates of Interest on Account Balances

Offshore bank accounts can generate a lot of interest over time. Some accounts indeed require that you reach and maintain a minimum balance before beginning to earn interest. The nice thing is that those balances may be lower than you expect.

Once you reach the required minimum, you're likely to earn a more competitive interest rate than you would receive from any domestic bank. With some accounts, the interest rate increases as you reach higher tiers of deposited funds. That makes it all the easier to generate more wealth without incurring risk.

Ability to Invest in Real Estate

Not every country in the world allows expats or non-residents to purchase real estate. This isn't the case in Belize. You can remain a citizen of another country and even maintain your permanent residence elsewhere while owning property in Belize. That opens another investment opportunity for you.

Real estate in Belize has a history of appreciating in value. You can choose to purchase one or more properties and then lease them out with relative ease. Once the properties are paid for in full, the money you get from those leases can cover the cost of upkeep and other related expenses. The rest can go into one of your interest-bearing accounts and add to your wealth.

Don't forget that buying property in Belize now may also be helpful later - after you retire. One of those properties could become your new home. In the meantime, use it to increase your financial resources and ensure that those retirement years are more comfortable.

No Language Barrier for English Speakers

The fact that you only speak English may make establishing and managing offshore accounts more difficult in some countries but not Belize. English is the official language in the country. While others are spoken, you will have no trouble conversing with bank personnel or other financial professionals.

This will make it easier to communicate with a broker about investment opportunities or talk with those who will help manage any acquired properties. When you do visit the country, the fact that you don't have to try your hand at learning a new language will make the stay all the better.

Secure Online and Offline Banking

Security is a crucial concern when deciding where your money will reside. You may not know that both the banking laws and the policies and procedures of banks in Belize place a great deal of emphasis on security. You can rest assured that no one will have access to your account data unless you grant them the privilege.

In an online environment, the measures taken to provide secure access to your accounts also include safeguards that prevent others from finding out anything about your balances or other personal information. Thanks to how banks manage online infrastructures, you would be hard-pressed to find more secure online banking options anywhere. That likely includes your domestic bank.

Excellent Record of Asset Protection

There's another benefit to building wealth in Belize that most hope they never have to employ. It has to do with protecting the assets you house in different offshore accounts. Simply put, you don't want those balances to be accessible in the event of any legal issue at home.

If you're sued, and a judgment is rendered against you, the court can order the seizure of any and all of your non-exempt assets to settle that judgment. One lawsuit can literally wipe you out. Your financial resources housed in Belize are not subject to seizure or sale. At the very least, you will have that wealth to get a fresh start.

Kickstart Your Financial Freedom in Belize

If you've not given much thought to using offshore accounts to build wealth, now is the time to look into this possibility. The more you learn about the benefits of offshore banking in Belize, the more likely you'll conclude this tropical paradise is the perfect location to kickstart your journey to financial freedom.

Luigi Wewege is the President of Caye International Bank, headquartered on the island of Ambergris Caye, Belize. He is also the published author of The Digital Banking Revolution, now in its third edition.




 


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