What are the options for Belize LLC physical bank account opening?

[Gyan Rosling]

Thanks for the reply! I only found out about this forum after I registered the company, and this ID was only registered for 1 day.

I have found and read the above posts, collected them and studied them, they are very helpful. I was a little worried after reading it, so I made this post.

But in 2022, I really can't find a second type of offshore company that doesn't have to do accounting and pay taxes. Belize IBCs are no good, there is a 1.5%-3% corporate tax, and only LLCs are exempt.

I'm not making it a shell company, and I'm going to make it a purchasing business, separate from another company that does sales. But now I find it difficult to open a bank account. Look at the post, the Swiss CIM will not work.

My single transaction funds may be around $80,000-300,000, I don't know if EMIs like Bankera are acceptable. Looking at the Belize central bank report, BELIZE BANK is a bigger bank than HERITAGE. I don't know what its situation is. Of course, everyone recommends not to use Belize local banks.

I probably registered at the lowest price in the world, even if I cancel it, it should not be a big loss.

Why don't you open a bank account with the operating company? Some US accountants advise owning a Wyoming co with the Belize LLC and opening a bank account with that. Just use the Belize LLC as a shield for you as an owner but pay all with corporate accounts instead of extracting dividends.

 

[blizz]

Mercury Bank will open for your US LLC, use that solution

 

[Yilin]

Why don't you open a bank account with the operating company? Some US accountants advise owning a Wyoming co with the Belize LLC and opening a bank account with that. Just use the Belize LLC as a shield for you as an owner but pay all with corporate accounts instead of extracting dividends.

In addition to the UAE, I did consider the U.S.-based OWM. But I personally have a US stock investment account, and the US stock exchange has my W-8BEN record.

You mean to let me use the Belize company as a corporate director to hold the OWM company, right?

The United States imposes global taxation. I am afraid that if I involve in American company, and the US stocks make money, I will be asked to pay profits tax. I don't want to live in the United States for a long time in the future. It seems that I am a tax resident for more than 180 days. All kinds of other taxes are coming.

Therefore, when I registered a Wyoming company in the United States, I had great tax concerns, which brought tax troubles to my other investments.

Mercury Bank will open for your US LLC, use that solution

Thanks for the suggestion. Mercury I know that there are company that offer solution for Wyoming, USA + Mercury.

 

[Jerry1911]

Mercury Bank will open for your US LLC, use that solution

Even if owned by foreign company (Belize LLC)?

 

[lostguy]

Why wouldn't it be valid? I never heard anyone complaining (apart from the random members whose concerns eventually are resolved).

Have you heard anything wrong?

there have been some negative reviews around here, but I believe they are ok now.

 

[Cetme308win]

It depends of the business you are operating,
Some banks in Miami are willing to open a bank account for a Belize company as well as lot of caribbean banks in Curaçao, Antigua, Puerto Rico.....
Panama banks may open a bank account for your company as well (if you are already a customer with a personal account for example)... The weirdest was finding a Isle of Man bank open to offer me a bank account for Belize companies.

The key its always what are you gonna do with the Belize company, the business you are carrying through it.... If you have solid connections and contracts supporting what you are doing it's always helpful.

 

[Jerry1911]

Some banks in Miami are willing to open a bank account for a Belize company as well as lot of caribbean banks in Curaçao, Antigua, Puerto Rico.....

What if you are an EU citizen/resident? Do you need an ITIN? Is there a minimum deposit requirement and if so, what's the most common one?

 

[Cetme308win]

Welcome aboard.

Have you searched the forum? To keep it short I would say in 2022 with opening a Belize company you made a big mistake but good luck anyway. Maybe the below threads on the subject can aid you with a solution. The subject has been discussed many times already. Beggars cannot be choosers so forget bricks and mortar bank. You can't look for a solid bank for a shell company these days.


https://www.offshorecorptalk.com/threads/heritage-bank-limited-in-belize.33269/
https://www.offshorecorptalk.com/threads/emis-belize.34769/
https://www.offshorecorptalk.com/threads/bank-account-for-belize-ibc-company.35637/
https://www.offshorecorptalk.com/threads/bank-accounts-for-belize-entity.34435/

Not always Mr Everson, you are someone I really respect and your sterling reputation here is well deserved, and as you said, beggars cannot be choosers. But in 2022 it's already possible to open accounts for shell companies in solid banks.... Everything depends of 4 keys factors:

1. The business you are carrying
2. The setup
3. Money you are looking to deposit
4. Connections

If you have a clean business with solid connections and good contracts, the setup is good, some banks may actually be open to offer you opening a bank account for you.
Well, actually I even found a bank in Isle of Man that were actually quite open to offer a bank account for a Belize company receiving commissions from import/export trades. Obviously contracts and connection with reputable companies supporting were the key for that.....
Same with a Panama bank if you are actually a customer for a year.
Probably for a random guy setting up a Belize company for a startup billing roughly $5k per month as a consultant it's almost impossible... For most banks will be a NO-NO

But it's not the same for a company with earnings up to $100k / month in commissions and professional reference letters from very reputable companies as partners.

What if you are an EU citizen/resident? Do you need an ITIN? Is there a minimum deposit requirement and if so, what's the most common one?

The Miami bank I'm talking about don't ask for an USA ITIN number....just your European one and yes for companies minimum deposit required is $25k

 

[Jerry1911]

The Miami bank I'm talking about don't ask for an USA ITIN number....just your European one and yes for companies minimum deposit required is $25k

That's pretty good actually. I assume an alternative (if one would like to avoid USA) would be a Cook Islands LLC with Capital Security Bank.

 

[Cetme308win]

That's pretty good actually. I assume an alternative (if one would like to avoid USA) would be a Cook Islands LLC with Capital Security Bank.

Some Panamá banks may actually open a bank account for a Belize company too

 

[JohnnyDoe]

LGT Austria might do so for min €5m

 

[Yilin]

It depends of the business you are operating,
Some banks in Miami are willing to open a bank account for a Belize company as well as lot of caribbean banks in Curaçao, Antigua, Puerto Rico.....
Panama banks may open a bank account for your company as well (if you are already a customer with a personal account for example)... The weirdest was finding a Isle of Man bank open to offer me a bank account for Belize companies.

The key its always what are you gonna do with the Belize company, the business you are carrying through it.... If you have solid connections and contracts supporting what you are doing it's always helpful.

Researched the banks in Panama, but he seems to be on the blacklist of some countries and banks for remittance.

I'm interested in the Miami Bank you mentioned, which bank is it? Can you tell me in detail?

It depends of the business you are operating,
Some banks in Miami are willing to open a bank account for a Belize company as well as lot of caribbean banks in Curaçao, Antigua, Puerto Rico.....
Panama banks may open a bank account for your company as well (if you are already a customer with a personal account for example)... The weirdest was finding a Isle of Man bank open to offer me a bank account for Belize companies.

The key its always what are you gonna do with the Belize company, the business you are carrying through it.... If you have solid connections and contracts supporting what you are doing it's always helpful.

There is actual trade procurement business, just signed the first contract, about 10,000 US dollars.

 

[Cetme308win]

Researched the banks in Panama, but he seems to be on the blacklist of some countries and banks for remittance.

I'm interested in the Miami Bank you mentioned, which bank is it? Can you tell me in detail?


There is actual trade procurement business, just signed the first contract, about 10,000 US dollars.

Didn't had any problem sending to Panama from Switzerland for example....

About the Miami bank, I cannot post it on public since I don't wanna attract unwanted attention

 

[clemens]

How were you able to open an account in Miami? I mean, did you travel there, are you an US citizens?

 

[Cetme308win]

How were you able to open an account in Miami? I mean, did you travel there, are you an US citizens?

I'm not a US Citizen, I just managed to get a good contact in some Latin American banks with offices in Miami and could open a bank account remotely

 

[clemens]

I'm not a US Citizen, I just managed to get a good contact in some Latin American banks with offices in Miami and could open a bank account remotely

That explains it all, thank you.

 

[Cetme308win]

That explains it all, thank you.

You are welcome! Actually that's the best way....same with Panama banks too....

 

[clemens]

You are welcome! Actually that's the best way....same with Panama banks too....

You mean you can open an Panama account remote if you have connection in South America?

 

[Cetme308win]

You mean you can open an Panama account remote if you have connection in South America?

Yes, that's what I did it myself.... I have 2 Panama bank accounts in major banks there

 

[clemens]

Not bad, I will have to look into it. Have a few connections in the region which may possibly be able to help me.