What advantages will a Belize corporate bank account offer my money?

A number of benefits are available to individuals who open a corporate bank account in Belize. First, how’s this to start: you do not need to conduct any business activities in Belize to open a corporate bank account. You would need to set up a company of course for a corporate bank account, but that company need not engage in any business here as a prerequisite to open the account.

Another advantage is that opening a corporate bank account in Belize will enable you to move your money (some might say hide your money) in a legal way. Many countries prohibit their citizens from operating personal international bank accounts without special permission from the state, which is often extremely difficult to receive. Now, you’d probably still be able to open such a personal account, because international banks most likely won’t require you to provide proof of special permission from your home country. But nonetheless, this route would be illegal. Better to explore incorporating an international business company (IBC) and opening an international bank account in Belize for your money. This process would be absolutely legal.

Another advantage of a corporate bank account: the confidentiality that comes along with it. Not only will you be able to keep the paws of the tax collector off your money, but foreign account confidentiality makes it more difficult for con artists and the like to notice and then target your money.

And yet another advantage: with a corporate bank account, you and your money are legally separate. So any personal liability (from a divorce settlement to bankruptcy proceedings, to a frivolous lawsuit) will not affect the bank account of your IBC, which will be legally shielded. Your IBC will have built-in legal asset protection and any money in the corresponding corporate bank account will take advantage of this structure.

And lastly, transferring shares of your IBC to future inheritors is a great way to lessen inheritance tax responsibilities.

You might consider opening a Belize international business company and private bank account for a number of additional reasons:

• Lessen inheritance tax responsibilities (mentioned above)
• Intellectual property management
• Lack of foreign currency exchange controls (stockbroker, forex, etc.)
• Custody of movable and immovable property
• Internet commerce