The global financial crisis that has nearly incapacitated the economies of the world has brought insurmountable havoc and confusion to the still bewildered people, of all walks of life. Truly, none was spared by the dreaded menace. Thousands are losing jobs; inflation is at its peak and the dollar is slowly losing its worth; commodities are rapidly rising in prices; homeowners are being driven out of their homes; and bank accounts are being frozen – the world is in a serious financial hell, and America is in the center.
Financial control is nowhere near the hands of Americans, it can even be said that the financial crisis is controlling them. The Americans, that before couldn’t care less about budgeting, now need to plan their spending, or else they will not be able to survive these tough times. But they are finding peril on deciding what is best to do with the little money they have left. With the numerous bills that have to be paid, declining earnings and the ever persistent taxes, people are aware that they could lose everything in one fell swoop.
Amidst the crisis, one thing is being sought more than anything else, security over one’s finances. People are looking for better ways to ensure the safety of their precious money. Before, onshore banks and other onshore financial institutions were considered the safest place to keep money, but today is a different case. With the federal government already losing billions in insurances for bankrupt banks, the remaining banks have been granted the power to freeze bank accounts more easily than before. And so it seems, that money isn’t safe anywhere.
The Belize laws however, have brought new hope into the safekeeping of money. The primary cause for the creation of the Belize laws is to protect the rights, and the deposits of people keeping cash deposits on foreign banks, to encourage offshore banking. Under the Belize laws, offshore depositors cannot in any way be compelled by their home government to divulge any information regarding their offshore deposits. Also, the home government of the offshore banker cannot in any way look into the records of the offshore depositor’s offshore bank accounts. In other words, offshore bank accounts are now considered fully confidential.
With the government having no form of access, offshore banks accounts are therefore absolutely risk free of being frozen. And another unintended use of offshore bank accounts is what has gotten the attention of so many, that is, hiding money offshore. Since offshore bank accounts cannot be looked into by the offshore depositor’s government they are the most effective ways of concealing money, hence safely being able to not declare the activities from which such money came from. Thus, keeping money in an offshore bank account is an effective way of avoiding taxes.
The problem however, is how one would access his offshore bank account conveniently and cheaply. The solution is quite simple; have your offshore bank account linked to a prepaid offshore debit card. To make things easier, you may choose an offshore bank that offers a prepaid offshore debit card along with its offshore bank account.
The prepaid offshore debit card is the new king of the electronic payment system after beating the international debit card that has reigned for so long. The prepaid offshore debit card is a plastic card embossed with the MasterCard or Visa symbol that signifies its worldwide acceptance. It can be used in making payments the same way as a credit card, only better. Credit cards allow the cardholder to spend money he is yet to have, which he pays at a later date with hefty interests. Credit cards also have high monthly charges. Prepaid offshore debit cards however allow the cardholder to spend only up to the balance of the related offshore bank account, and charges no monthly or annual fees and has very minimal interests.
The prepaid offshore debit card can also be connected to a real or virtual offshore bank account. It is like a key that can be used to keep track of the offshore account as well as withdraw cash from it via any ATM outlet worldwide. Using a prepaid offshore debit card is generally safer that carrying cold cash and more convenient than using personal checks.
Prepaid offshore debit cards also offer the offshore cardholder the option to keep card anonymous, not embedding in the card any information about the holder, but rather a code or company name, in case the debit card is for business purposes. This greatly reduces the risk of identity theft and thus removes any threat of the card being used fraudulently by unknown third parties.
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