Banking License in Belize

Belize is one of the most famous offshores in the world. The country is particularly attractive to banking organizations due to its favorable tax policies and strong emphasis on privacy. However, it’s important to understand the specific local laws and requirements for obtaining a banking license in Belize. To avoid the risk of rejection, it’s advisable to enlist the help of specialists experienced in this process. Lawtter Solutions offers licensing services designed to provide benefits for each client.

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Opening an account

Lawtter Solutions offers legal solutions in business registration, bank account opening

Permanent residency

Lawtter Solutions offers legal solutions in business registration, bank account opening

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Lawtter Solutions offers legal solutions in business registration, bank account opening

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Advantages

Advantages of Belize for Opening a Bank

Bank registration in Belize is a popular service among our clients. This solution provides a number of advantages

High level of confidentiality

The beneficiary register in Belize is closed, and information can only be obtained by court order.

Favorable conditions of taxation

If a non-resident opens a bank in Belize that does not operate in the domestic market, its profit is exempt from the corporate tax.

Registration of the bank as an LTD

In such forms of ownership, shareholders are responsible for the company's obligations only within the statutory capital. They are not liable for personal assets or property.

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Regulation

Bank Regulation in Belize

We should note the developed legislation in Belize. The financial regulator is represented by the Central Bank of Belize. Banking activity is carried out based on two documents:

Banking and Financial Institutions Act (BFIA).
International Banking Act (IBA).

The Domestic Banks and Financial Institutions Act (DBFIA) has also been developed for banks wishing to operate as residents of Belize. These laws were adopted in 1995 and 1996 and have been amended several times. The modern legal framework is reliable and clear.

Requirements for Obtaining a License in Belize

To obtain a banking license in Belize, you must meet several requirements, including physical presence, license type, and authorized capital amount.

01

Physical Presence

The banking company is required to open an office in Belize. During the inspection of your application, the financial regulator will ensure that a representative office meets its requirements.

02

Choice of License Type

There are two types of licenses in Belize. An A license allows you to conduct activities almost without restrictions, but for the registration of the bank, you will have to contribute a considerable amount of authorized capital (read more on that below). As for the type B license, there are more restrictions here. For example, banks with a type B license cannot serve checkbooks. Nonetheless, the requirements for authorized capital are lower here.

03

Authorized Capital

The size of the authorized capital for registering a banking license in Belize depends on the license type and the company's residency.

Type A for residents – $3,000,000.
Type B for residents – $1,000,000.
Type A for non-residents – $25,000,000.
Type B for non-residents – $15,000,000.

04

Staff

Belize does not set residency requirements for shareholders and top management but does set requirements for professional experience and qualifications. Therefore, when registering, it is necessary to provide information about previous banks and positions of shareholders and top managers, as well as documents confirming their qualifications.

How Long Is the License Valid?

The bank license in Belize is valid for one year. However, going through the licensing procedure again is not necessary. You must pay the cost of its extension: $25,000 for license type A and $15,000 for license type B. After that, the document will be automatically extended for another year.

Banking License in Belize

Lawtter Solutions – Obtaining Bank Licenses in Belize

Lawtter Solutions specializes in bank licensing services in Belize, offering a complete turnkey solution. Our team of experts will provide consultations to explain the key requirements and assist you in selecting the appropriate license type. We will then prepare a comprehensive package of documents and offer legal support throughout the entire process. We guarantee the successful acquisition of a bank license, ensuring that all procedures are carried out accurately and in compliance with the jurisdiction’s regulations.