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  • How to Open Offshore Bank Account

    With the world in economic crisis and governments thinking up new schemes to get their hands on your cash, more companies and individuals are looking to Belize as one of the safest offshore jurisdictions to move their assets. In Belize, four banks offer offshore bank accounts. These are Choice Bank, Atlantic International Bank, Caye International Bank, and Heritage Bank. You can have your account opened in USD, EUR, or GBP. Offshore bank accounts are safe to operate; privacy in the Belize banking system is second to none.

    There are a variety of reasons behind the decision to establish an offshore account. Usually, one of the main reasons is to move cash from politically and economically unstable countries to a safer place, and Belize is a stable and safe offshore jurisdiction. Belize is the most desirable banking jurisdiction in the world. Belize’s stable business environment, with English as the official language in the country, makes offshore banking in Belize much easier than most other offshore jurisdictions. Banks here are overloaded with applications from legal entities and individuals willing to open their offshore bank accounts. By opening an offshore bank account in Belize, you will have safety and security in case of financial crisis in the country of your residence.

    But safety and security are not everything. Banks in Belize offer banking services and products that might not be available to you at home. Opening an offshore bank account is straight forward, but may take months for anyone doing so without professional help. As a licensed Registered Agent in Belize, we can assist your business in opening an offshore bank account in one of the reputable banks. There is no requirement to be in Belize physically to open an offshore account here. Normally, banks require these documents:

    1. Bank application form (we will provide those);
    2. A signature sample card (we will provide the card for you to sign);
    3. Copy of your passport, certified by a notary public;
    4. A bank reference letter from any bank with whom you have had a personal bank account for over 2 years;
    5. Copy of your utility bill, certified by a notary public as proof of your address;
    6. Character reference letter from either an accountant or lawyer, who has known you for 2 years or longer.

    So, if you buy our bank introduction service, we will proceed with the account opening process, once your offshore company is incorporated and we have received all those documents listed above. Approval process takes from 3 days to 14 days, depending on the chosen bank and your personal circumstances. Once your bank account application is approved, you will receive a welcome letter from the bank and request to deposit an initial payment to activate the account. Initial payment varies from bank to bank:

    1. Choice Bank – US$5,000
    2. Atlantic International Bank – US$3,000
    3. Caye International Bank – US$1,000
    4. Heritage Bank – US$3,000

    When the bank has received your initial payment, your new offshore bank account is fully activated, and you may operate it as normal.

    Frequently Asked Questions:

    1. Do Belize banks offer SWIFT and IBAN account numbers?
    2. Do Belize banks offer online banking service?
    3. I am really in urgent need to get an offshore Belize bank account for my business. What is the best bank you can open my account with? The one with less requirements and less questions.