Let’s talk about making your social security and pension money go further by living in the Caribbean. Belize is an excellent choice in this regard. Not only is the country a good place to live, but the climate is tropical and Belize is an excellent jurisdiction to set up offshore banking and an offshore company.
What and where is Belize?
Belize was British Honduras until June 1973, and it gained full independence in 1981. The society is diverse with English, German, Spanish, Creole and Chinese spoken. Belize is bordered on the west by Guatemala and on the north by Mexico. The Caribbean Sea is to the east. With an area of 22,800 sq. kilometers and a population of less than 400,000, Belize’s population density is the lowest in Central America. The country is the only one in Central America to be a member of the British Commonwealth.
Making the Most of Your Retirement Savings in Belize
Belize generally is a safe, English-speaking country in Central America with its legal system based upon British Common Law. The cost of living in Belize is between US$1,000 and $US2,000 a month depending on whether you live and if you own the property or rent. How much you spend in Belize will mostly depend on your lifestyle and of consumption. You can find luxurious, gated communities and safe, quiet neighborhoods where life is much cheaper. If you don’t use cable TV, high-speed internet and air conditioners in every room of your home, don’t drink lots of beer, nor have servants and maids, you can expect to spend no more than US$1,000 a month. If you want to have a more extravagant lifestyle and spend less than elsewhere, by living in Belize, you can save a lot. Come to Belize to visit, spend some time here and explore. You will be happy you did. While you are here, check out the other advantages of Belize, such as offshore banking or offshore company formation.
Belize Offshore Banking
An offshore bank account in Belize is a great tool to have. With our bank introduction service, you can set up your account by e-mail. No need to visit a bank. To open an account in Belize, the following documents are required:
– Notarized color copy of your ID Page of passport
– One financial reference letter
– One professional reference letter
– Notarized copy of your utility bill
– W9 form if you are a US citizen
At least a two-year relationship with the financial institution that provides your reference is required. The banking system in Belize provides you with exceptional privacy and security in the administering of your transactions and accounts. Even though a bank will need to fully identify you and run due diligence to open an account, your personal information is not available to anyone without your written consent.
Belize Offshore Companies
An offshore company (IBC) is a legal entity registered in Belize which does business outside of Belizean shores and therefore pays no taxes in Belize. An IBC must have a registered agent in Belize and will pay an annual fee of US$550 to maintain an IBC in good standing. Setting up an IBC could be done by an individual or other legal entity. An IBC can be well used to trade internationally since it can hold bank accounts and buy and sell many goods and services. If you are looking for an additional layer of privacy, we can provide a nominee shareholder and a nominee director for your offshore company.