The country itself has many advantages as a banking and business center for North Americans.  Belize the only English speaking country in Central America and is located close to North America, with flights from major international airports that provide easy access to clients and advisers alike.

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  The country boasts a warm, sunny, climate and beautiful tropical scenery, plus good accommodation for clients, advisers and resident expatriates.  The Belize dollar is pegged to the U.S. dollar at a fixed rate of 2:1, and U.S. currency is accepted by local retailers.  Belize remains on Central Standard time year-round, so its local time corresponds to major business centers such as Chicago, Houston, or Denver, depending on the time of year. 

 

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Good telecommunications also facilitates international business with the country.

Belize has two types of banks:  Commercial banks serving local customers, and a small but growing community of international banks. These international banks were authorized by the Banks and Financial Institutions Act, 1995, and the introduction of the Offshore Banking Act, 1996, and the Money Laundering (Prevention) Act, 1996.

 

By law, international banks cannot serve customers who are citizens of or legal residents of Belize. The 1995 legislation defines an international banking as “receiving, borrowing or taking up foreign money exclusively from non-residents at interest or otherwise on current account, savings account, term deposit or other similar account and which according and subject to arrangement is repayable on the check, draft, order, authority or similar instrument of the customer, and investing the foreign money so received by lending, giving credit or otherwise exclusively to non-residents; or carrying on exclusively with non-residents such other activities as are customarily related or ancillary to international banking.”

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There are two categories of Belize international banks:

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1. Class A – Unrestricted.  The holder of a Class A international banking license needs to establish, maintain, and operate a business office in Belize. It is permitted to transact international banking business through its business office in Belize without restrictions on that business.  Authorized and paid-up capital of at least USD $3 million must be maintained if the license is for a local company, or USD $25 million in the case of a foreign bank.  The annual license fee for a Class A international bank is US$20,000.

 

2. Class B – Restricted. The holder of a Class B international banking license also needs to establish, maintain, and operate a business office in Belize, but it is limited to transacting only such international banking business as is specified in its license. Class B international banks cannot solicit or accept deposits from the general public, and cannot provide any current deposits or checking accounts to depositors.  Authorized and paid up capital of not less than USD $1 million must be maintained if the license is for a local company, or USD $15 million in the case of a foreign bank. The annual license fee for a Class B international bank is USD $15,000.

 

Several international Class A banks are in operation in Belize. These banks are regulated by the Belize Central Bank, have physical offices in Belize and offer various services including demand, savings and time deposit accounts. Accounts maintained with these banks are not subject to local taxes or exchange control restrictions.  International banks tout their privacy for their customers, although if the Belize courts find that funds in the banks are proceeds of crime, the banks are required to release the identity of the account owner.  Funds are transferred into and out of Belize in foreign currencies without conversion to Belize dollars.

As the number of countries offering strict banking privacy diminishes, Belize is attracting more attention, and more international banking business, from around the world.

 

 

Commercial banks licensed in Belize:

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Atlantic Bank Limited
Cor. Freetown Rd. & Cleghorn St.
Belize City, Belize
Telephone: (501) 223-4123 or (501) 223-3921

Belize Bank Limited
60 Market Square
Belize City, Belize
Telephone: (501) 227-7132 or (501) 227-7082

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FirstCaribbean International Bank (Barbados) Limited
Albert Street Branch
P.O. Box 363, 21 Albert Street
Belize City, Belize
Telephone: (501) 227-7211 or (501) 227-7212

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Heritage Bank Limited
106 Princess Margaret Drive
Belize City, Belize
Telephone: (501) 223-6783 or (501) 223-6784

 

Scotiabank (Belize) Limited
P.O. Box 708
4 A Albert Street
Belize City, Belize
Telephone: (501) 227-7027 or (501) 221-0135

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International banks licensed in Belize with an “A” Class – Unrestricted licence:

 

Atlantic International Bank Limited
Withfield Tower, 2nd Floor
4792 Coney Drive
P.O. Box 1811,
Belize City, Belize, C.A.
Telephone: (501) 223-3152 or (501) 223-5366

 

Belize Bank International Limited

(formerly British Caribbean Bank International Ltd. name change effective 16 August 2012).
The Matalon Business Center
Coney Drive, 2nd Floor
P.O. Box 364
Belize City, Belize
Telephone: (501) 227-0697 or (501) 227-1548

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Caye International Bank Ltd.
P.O. Box 11
Coconut Drive, San Pedro
San Pedro Ambergris Caye, Belize
Telephone: (501) 226-2388 or (501) 226-2383

 

Choice Bank Limited
1 Coney Drive
3rd Floor
P.O. Box 2494
Belize City, Belize
Telephone: (501) 223-6850 or (501) 223-6851

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Handels Bank & Trust Co. Ltd.
Blake Building, Suite 101
16 Corner Eyre & Hutson Streets
P.O. Box 742 Belize City, Belize
Telephone: (501) 223-7615     

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Heritage International Bank & Trust Limited
106 Princess Margaret Drive
Belize City, Belize
Telephone: (501) 223-6783 or (501) 223-6784

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International banks licensed in Belize with a “B” Class – Restricted licence:

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Market Street Bank Limited
Caye Financial Centre
Corner Coconut Drive & Hurricane Way
San Pedro Ambergris Caye, Belize
Telephone: (501) 226-2388

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These financial institutions are regulated in Belize under the Banks and Financial Institutions Act.
Licensed financial institutions registered in Belize:

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MicRoe Finance Company Limited
6 Fort Street
Belize City, Belize
Telephone: (501) 223-1128

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Credit unions are registered under the Credit Unions Act.​

Credit unions registered in Belize:​

Belize Credit Union League Ltd.
7 Daly Street
Belize City, Belize
Telephone: (501) 223-0495

 

Blue Creek Credit Union Ltd.
P.O. Box 25
Linda Vista, Blue Creek
Orange Walk District, Belize
Telephone: (501) 323-0010

 

Citrus Growers & Workers Credit Union Ltd.
92 Breadfruit Street
Dangriga Town, Stann Creek District
Belize
Telephone: (501) 522-0193 or (501) 522-2145

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Civil Service Credit Union Ltd.
28 Dean Street
Belize City, Belize
Telephone: (501) 227-2166 or (501) 227-4755

 

Evangel Credit Union Ltd.
Princess Margaret Drive
Belize City, Belize
Telephone: (501) 227-0063

 

Holy Redeemer Credit Union Ltd.
1 Hydes Lane
P.O. Box 544
Belize City, Belize
Telephone: (501) 224-4320 or (501) 224-5644

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La Inmaculada Credit Union Ltd.
5 Park Street
Orange Walk Town
Orange Walk District, Belize
Telephone: (501) 322-2358 or (501) 322-3520

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Mount Carmel Credit Union Ltd.
37 Church Street
Benque Viejo Town
Cayo District, Belize
Telephone: (501) 823-2003 or (501) 823-2566

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Police Credit Union Ltd.
c/o Belize Credit Union League Ltd.
7 Daly Street
Belize City, Belize
Telephone: (501) 223-0495

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St. Francis Xavier Credit Union Ltd.
79 Corner 5th Avenue & 1st Street North
Corozal Town
Corozal District, Belize
Telephone: (501) 422-2892 or (501) 422-0075

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St. John’s Credit Union Ltd.
4 Basra Street
Belize City, Belize
Telephone: (501) 227-2575 or (501) 227-1050

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St. Martins Credit Union Ltd.
Corner Eve & Far West Street
San Ignacio Town
Cayo District, Belize
Telephone: (501) 824-2093 or (501) 824-2800

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Toledo Teachers Credit Union Ltd.
Queen Street
Punta Gorda Town
Toledo District, Belize
Telephone: (501) 722-2522 or (501) 722-0060

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Wesley Credit Union Ltd.
c/o St. John’s Credit Union Ltd.
4 Basra Street
Belize City, Belize
Telephone: (501) 227-2575 or (501) 227-1050

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                                               Name of Approved Money Transfer Service Provider

1. ​Belize Bank Limited​
2. Belize Bank Limited  (BBL)/MoneyGram International (MGI) Agent 60 Market Square, Belize City
3. Belize Bank Ltd - Belmopan   Corner Constitution Drive & Melhado Drive, Belmopan City
4. Belize Bank Ltd - Corozal   Corner 5  th  Avenue & st
5. Street, North, Corozal Town   Belize Bank Ltd - Dangriga
6. 24 St. Vincent Street, Dangriga Town    Belize Bank Ltd - Northside Branch
7. The Matalon Business Center, Suite 100, Coney Drive, Belize City
8. Belize Bank Ltd - Orange Walk   34 Main/Park Street, Orange Walk Town
9. Belize Bank Ltd - PGIA   Phillip S.W. Goldson International Airport, Ladyville Village
10. Belize Bank Ltd - Placencia   Main Street, Placencia Village, Stann Creek
11. Belize Bank Ltd - Punta Gorda   Main & Hospital Streets, Punta Gorda Town
12. Belize Bank Ltd - San Ignacio   16 Burns Avenue, San Ignacio Town
13. Belize Bank Ltd - San Pedro    Barrier Reef Drive, San Pedro Town
14. Belize Chamber of Commerce & Industry   (BCCI)/Western Union (WU) Agent
15.                                                       Affiliated sub-agents
16. 88 Shopping Center    Central American Boulevard, Belize City
17. Allen’s Hardware   Western Highway, Santa Elena Town
18. Ambergris Lake Villas  Mar de Tumbo, San Pedro Town
19. Amrapurs Two   Queen Victoria Avenue, Orange Walk Town
20. Amrapurs-Orange Walk  Belize Corozal Road, Orange Walk Town
21. Atlantic Bank Ltd - Airport Agency   Phillip S.W. Goldson International Airport, Ladyville Village,
22. Atlantic Bank Ltd - Albert Street  Albert Street, Belize City
23. Atlantic Bank Ltd - Belmopan   Garden City Plaza, Belmopan City
24. Atlantic Bank Ltd - Caye Caulker   Avenida Langosta, Caye Caulker
25. Atlantic Bank Ltd - Collet Agency   Cemetery Road, Belize City
26. Atlantic Bank Ltd - Corozal   Street North, Corozal Town
27. Atlantic Bank Ltd - Ladyville Agency   9 Miles Northern Highway, Mirage Road, Ladyville Village
28. Atlantic Bank Ltd - Main Branch   Freetown Road/Cleghorn Street, Belize City
29. Atlantic Bank Ltd - Orange Walk   Belize Corozal Road, Orange Walk Town
30. Atlantic Bank Ltd - Orange Walk   Main Street, Orange Walk Town
31. Atlantic Bank Ltd - Placencia   Main Street, Placencia Village
32. Atlantic Bank Ltd - San Ignacio   Columbus Park/Burns Avenue, San Ignacio Town
33. Atlantic Bank Ltd - San Pedro   Pescador Drive, San Pedro Town
34. BCCI/WU Branch   No. 1 Youth for the Future Drive, Belize City
35. Beauty Plaza   Church Street, Belize City 
36. Celina’s Super Store   Burns Avenue, San Ignacio Town
37. Computer Ranch Center Road, Spanish Lookout, Cayo District
38. Courts Belize   Northern Highway, Belize City
39. Doony’s   Albert Street, Belize City
40. Doony's Instant Loan Limited   8 Park Street South, Corozal District
41. Downtown Jewelry Exchange Limited   25 Commercial Center, Belize City
42. Escalante Tire Supply   Savannah Road, Independence Village
43. Havana Pharmacy   22 Havana Street, Dangriga Town
44. Low's Supermarket   8½ Miles Northern Highway, Ladyville Village, Belize District
45. Mahung’s    Corner North/Main Streets, Punta Gorda Town
46. Papi’s Homecenter   5795 Forest Drive, Belmopan
47. Paz Villas    Pescador Drive, San Pedro Town
48. Quick Stop Personal Finance Center   Savannah Street, San Ignacio Town, Cayo District
49. Quick Stop Personal Finance Center 2nd Floor Capital Garden Plaza, Constitution Drive, Belmopan
50. St. John's Credit Union Ltd - Belize City  ​4 Basra Street, Belize City
51. St. John's Credit Union Ltd - Belmopan City 14 Sinsonte Avenue, Belmopan City
52. St. John's Credit Union Ltd - Dangriga Town  9 Bluefield Road, Dangriga Town
53. Syd’s Restaurant Avenida Langosta, Caye Caulker
54. Westar Truck Stop  Mile 49, Western Highway, Roaring Creek Village, Cayo District
55.                  LIST OF APPROVED MONEY TRANSFER SERVICE PROVIDERS
56. 4792 Coney Drive, Belize City
57.                                               Affiliated sub-agents:
58.  
59. Costless Wholesale Club Limited   (CWCL)/MoneyGram International (MGI) Agent
60. Western Highway, Santa Elena Town, Cayo
61. Costless Wholesale Club Ltd  48 Queen Victoria Avenue, Orange Walk
62. Costless Wholesale Club Lt​ Studio 7 West Street, San Ignacio Town
63. Costless Wholesale Club Ltd 1670 Ecumenical Drive, Dangriga Town
64. Costless Wholesale Club Ltd Jimmy's Wireless, Constitution Drive, Belmopan
65. GMS Investments Limited 7 New Road, Belize City
66. Maria Estella Unisex Beauty Salon  Emporium Plaza Piscini Area, Belmopan City
67. Palace Special Center   70A Neals Pen Road, Belize City
68. Parts Unlimited  Hummingbird Highway, Belmopan
69. Twin Supermarket  5526 St. Thomas Street, Belize City
70. Toledo Teachers Credit Union  Queen Street, Punta Gorda Town
71. (TTCU)/ MoneyGram International (MGI) Agent  TTCU  Bella Vista Village, Toledo
72. Korea Electronics   77 Freetown Road, Belize City  (KE)/ MoneyGram International (MGI) Agent 
73. Loans 2 Go   8 Albert Street, Belize City
74. PC.Com   Market Square, Belmopan City, Cayo District
75. Seahorse Dive Shop   Placencia Village, Stann Creek District
76. 88 Trading Center   Corner Neals Pen Road & Central American Boulevard, Belize City
77. ZITRO International Limited   (ZIL)/Western Union (WU) Agent  126 Freetown Road, Belize City
78. Cellular Plus Limited - Belize   33 Freetown Road, Belize City
79. EDAM Ltd   160 Constitution Drive, Belmopan City
80. Gadgets    100 Central American Boulevard, Belize City
81. Gadgets    63 Mosul and Cemetery Road, Belize City
82. Gadgets   4552 Youth for the Future Drive, Belize City
83. Saam Private Ltd   6 Belize Corozal Road, Orange Walk
84. Saint Martin’s Credit Union   Corner Eve and Church Street, San Ignacio Town, Cayo District
85. Security & Intelligent Solutions Limited   20 Tiger Avenue, Belmopan City
86. ZITRO International Limited   Marble Arch Building, Albert Street, Belize
87. ZITRO International Limited   Corner Riverside and Commerce Streets, Dangriga Town
88. ZITRO International Limited   86 4th Avenue, Corozal Town
89. ZITRO International Limited   22 Main Middle Street, Punta Gorda Town
90. ZITRO International Limited   3 Ramon’s Plaza, 8½ miles Phillip Goldson Highway, Ladyville.
91. ZITRO International Limited   911 Coconut Drive, San Pedro Town, Ambergris Caye