This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Banking in Belize

Belize is a relative newcomer in the field of international financial services with the introduction of International Business Companies Act 1990. International banking laws were first promulgated with the passing of International Banking Act,1996. The Offshore banking sector is categorized into 2 classes: - Class “A” unrestricted license and Class “B” restricted license permitted to only international banking services specified in its license.

Two major regulatory bodies monitoring financial sector are Belize Central Bank and Belize International Financial Service Commission (IFSC). There are several types of financial institutions in Belize: domestic commercial banks, credit unions, offshore Class A banks, offshore Class B banks. Belize financial system is quite small, consisting of 5 domestic commercial banks, 6 international banks, a mutual fund, 14 credit unions and 17 insurance companies. Belize banks maintain a very high liquidity ratio at 24 percent, one of the highest in the world. To compare, most banks in the US only reach 3-4% liquidity ratio. The higher, the better.

A Belize bank account can be opened remotely without a signatory travel. In addition, bank account deposit is quite low and reasonable, so you don’t need a lot of money to bank there.

Banking Options for Belize Company

CountryBankOnline BankingPersonal VisitCredit CardDebit CardIntial Deposit
BelizeCaye International Bank Ltd.USD 1,000
Heritage BankUSD 3,000
British Virgin IslandFirst Caribbean International BankUSD 25,000
MauritiusABC Banking CorporationUSD 5,000
Bank One LimitedUSD 10,000
Mauritius Commercial BankUSD 50,000
Investec BankUSD 50,000
Puerto RicoEuro Pacific BankUSD 500
SingaporeCiti BankUSD 300,000
DBSUSD 50,000
OCBC BankUSD 30,000
UOBUSD 100,000
UAERAK BankUSD 10,000

Required documents

The below list of documents will give you a good reference to start with. However, each bank might require other additional documents based on your circumstance.

  • Bank account application forms
  • Bank statement
  • Bank reference letter
  • Certified copies of passports, address proofs of all directors/shareholders
  • Business plan
  • Business trading proofs (sales/purchase orders, invoice…)
  • Certified copies of Belize company incorporation documents
  • Government certification of company good standing status.

Please contact us to know the exact documents needed for your case.