How to Set Up an Offshore Account in Belize

Out of all of the places in the world to open up an offshore company, Belize is the perfect place. Opening up a Belize offshore company is a great way to protect your assets or hide them. Most people who open up offshore accounts do so for the following reasons, they want to hide assets and they want total privacy when it comes to who owns their company. While everyone has their own reasons why, the general idea is to protect what they have going.

But in order to open a Belize company, there are some things that you have to understand. Most currency is accepted in Belize, especially the United States Dollar. You may have to hire one of the local companies to open these accounts for you. There are some requirements that must be met before you can start your offshore company. One of these requirements is that you have to open the business in your own name.

It is understood that you are opening an offshore company for privacy but it is required and ID must be valid. But when the company is registered, no one will be able to see who owns it. You can put down a manager of the business on the registration papers and their name may show as the manager but not the owner. It is illegal in Belize to open a company in someone else's name. The procedure in Belize is that you open a company and it must be registered but unlike other countries there are no public filings.

Another requirement is that you have to use a company name from Belize. If you have a company in the UK and you want to transfer it to a Belize offshore company, you may have to change the name. You can open up a shell company and then change its name later on. You will want to open up a bank account in Belize as well; the name on the bank account is also protected by privacy in case anyone looks up your business by name.

There are several banks in Belize that can help you set up an account. Shop around just as you would in any bank account. See what services they offer and which services will best benefit your needs. Keep in mind that obtaining a bank account in Belize is a separate entity than opening a company; they do not go hand in hand.

One reason why people open up a Belize company is to avoid playing taxes. In Belize there is no business tax, they are fees to open up your business and annual fees but you won't have to pay taxes.