Belize Banking License

In order to obtain a Belize banking license, certain criteria and legal requirements must be met. Therefore, it is advised to seek the guidance of a professional consultancy firm to acquire the license with ease and efficiency. A Belize banking license provides its holder with international banking accessibility through a sophisticated online banking system.

Acquire a Belize Banking License

The Belize banking system is regulated by the International Banking Act 2003, which provides the legal and regulatory framework for the use of two main types of bank license, namely;

  • Class ‘A’ unrestricted: provides the license holder with the right to offer banking services to all customers across the globe.
  • Class ‘B’ restricted: permits the license holder to offer banking services to a predetermined restricted list of clients who are not resident in the banks country of registration.

An unrestricted class ‘A’ banking license entitles the holder to transact a minimum of US$3 million for a domestic company whereas the restricted class ‘B’ banking license permits a minimum of US$25 million to be transacted from foreign banks.

Belize boasts a sophisticated banking system, which is based on the English banking system, offering credit and debit cards as well as internet banking to their customers. This allows the holder to access their account 24/7 from all locations around the world.

The following requirements must be met by a Belize bank in order to obtain a banking license;

  • Minimum of 5 directors
  • CEO and a minimum of one director to have a banking qualification
  • Local attorney and CPA who has relevant banking experience
  • All bank statements to be audited by the Central Bank of Belize

The overall application for a Belize banking license is relatively simple and fast with the application, processing and acceptance taking approximately 2-3 months to finalize. Using the services of a professional consultancy firm will help to speed up the application process and ensure your application is submitted correctly.