If you’re on the Hemispheres site reading our articles, you must be remotely interested in taking at least some part of your life to another country. Some of you might be interested in buying property in another country, but some of you might want to learn more about offshore banking. For those of you interested in offshore banking, let me offer you an ideal starting point for your financial endeavors. It can all start in Belize.
At this point, you’re probably thinking to yourselves, “Why Belize of all places”? Few people realize this, but Belize is truly the best country for offshore banking. I have been all over the world and I have over 30 years of international banking experience. I wouldn’t have become the President of Caye International Bank if I didn’t think that was true.
It wasn’t always like this though. 30 years ago, Belize, Panama, The Isle of Man, and a number of Central American countries were basically banking dumps. They really had bad reputations at the time. All of that changed around the years 1999 and 2000, when a number of banking countries came together to put in new laws to prevent money laundering. Since then, all of these international banks follow strict rules, and if one of them steps out of line, an organization would come by and dismantle it.
What particularly makes Belize rise above other countries is its two key banking laws. The first is that international banks in this country allow bank secrecy to their prospective clients. The second is that Belize has a 24% liquidity requirement. In plain English, that means for every dollar in a Belizean bank, a quarter must be in liquid form to promote trading activity in a market. Liquidity was a major factor for the economic downturn back in 2008, as some of you might remember. Banks in other countries have a liquidity rate of 8%. Belize has a 24% rate, which is the highest in the world.