Requirements For Offshore Banking License in Belize
Requirements For Offshore Banking License in Belize
DOCUMENTS REQUIRED
The procedure for establishing an offshore bank in Belize takes place in four basic
steps:
Introductory Meeting
1 month
2 months
The application form along with all support documents is processed upon receipt. You
will also be required to provide the following information: type of banking business to be
provided, corporate information, detailed business plan with financial projections and
historical and pro-forma financial statement
The non-refundable application fee will be due at this time
The Central Bank reviews the application to ensure that all sections are completed. If it
is incomplete, the spokesperson will be notified to submit any additions or corrections
before the application is accepted. Failure to do this will delay the process.
2-3
months
After acceptance, a thorough analysis is conducted. First: Due Diligence is carried out.
Second: if the due diligence is satisfactory, the decision to recommend approval is
based on the prospects for success of the proposed bank.
Organization of the New Bank
2-3 months
If approval is granted by the Minister, you are expected to proceed with organizing the
new bank and abiding by all the relevant laws and regulations and conditions stated
with the Ministers approval.
Total Estimated Time for Processing and Completing Application: 7-9 months
FEES TO THE GOVERNMENT
REPRESENTATION SERVICES
Some of our Services will include the following:
Introduction and making appointments with officers of the Central Bank and
Government Ministers and Officials where necessary
Preparing and Filing of the Application
Preparation of Local and International Business Company
Liaison with Central Bank and Government Officials in obtaining approval of a Belize
Offshore Banking License
Work with Central Bank Officials on Terms and Conditions of License
Working on a Business Plan together with the proposed CEO and Directors
Working with Offshore Attorney and CPA on legal issues and audit of accounts
Local Director Services are also available
RETAINER & FEES
A US$7,500. Retainer is due at the beginning of the Application process. This retainer
will be held until completion of the project.
Thereafter, you will be billed on a monthly basis at US$125. per hour
Local Payments:
Out of pocket costs including telephone, fax, e-mail, photocopy, courier, secretarial and
accounting services and office supplies will also be billed monthly
A Separate Retainer will be required for additional services from Attorney, CPA and
disbursements for the proposed Offshore Bank Application
An Account can be set up at a local bank in the name of the proposed Company to take
care of local payments.
US DOLLAR OFFSHORE BANK ACCOUNT IN BELIZE
US$100.
TOTAL COST
US$550.
OPTIONAL SERVICES
GENERAL INFORMATION
Certificate of Deposits with attractive interest rates starting at US $25,000. Interest Rate
depends on amount of funds and time period. Present Rates range from 2.75% to
5.75% (Call for updated rates)
Wire transfer services at $70.00 for the U.S.A. and $80.00 for other countries
Online Banking Services available
Services include Bankers Checks, Standing Orders, Direct Debits, etc. (No Check
Books)
Monthly Statements available for $5.00 each
Fee of $50. charged for cancellation of accounts within 3 months
Our Cost for Closing Bank Accounts is US $150.00
Our Cost to reactivate Inactive or Dormant Accounts is US $100.00
Our Fee to increase/decrease credit card limit is US $100.
INTERNATIONAL VISA or MASTER CARD
CORPORATE and PERSONAL
OFFSHORE BANK IN BELIZE
For Holders of Bank Accounts
Requirements
US $150.00
US $100.00
US $250.00
Credit Card
You can have a Credit Card with both your name and the Name of the Company or your
Name Only or the Name of your Company only for greater privacy and confidentiality.
Annual Membership for Corporate Accounts $100.00, Personal $50.00
Additional Cards are $25.00 Each
Interest on unpaid balance is 1 % per month
BAHAMAS INTERNATIONAL BUSINESS COMPANY
ADVANTAGES OF THE COMPANY
Can open US Dollar and Stock Trading Accounts, Fixed Deposits, and Investment Plans
Set up International Credit and Debit Card
Can hold assets and ship ownership
REQUIREMENTS (See Application Form)
Proposed name of IBC, plus two alternatives ending with Ltd., Inc., Corp.,
One Director and one shareholder necessary (corporate entities or natural persons)
One Person or Corporate Entity can fill both positions
Corporate Entity can either be a Company or a Trust
Registered Shares Only (No Bearer Shares)
Minimum capital US$50,000.00 divided into 50,000 shares with a par value of US $1.00
each
DUE DILIGENCE (for Resident Agent Only)
Notarized Copy of Passport for all Directors, Officers, Shareholders and Beneficiaries
Contact Information of all Directors, Officers, Shareholders and Beneficiaries
Completed General Client Information Form
Type of Business to be conducted
RESTRICTIONS
Cannot carry on business with persons resident in Bahamas
Cannot carry on business as insurance or a reinsurance company, insurance agent,
insurance broker or insurance manager.
Cannot own or hold an interest, whether legal or beneficial, in real property situates in
Bahamas
Cannot do business in Pharmaceutical, Casino (Gambling) or Pornography line of
business
IBC DOCUMENTATION (you will receive)
Certificate of Incorporation
Memorandum and Articles of Association
Resolution of Appointment of First Directors
Registered Share Certificates
Share Register
Shelf Companies are available. Please request list with names and prices.
HIGHTLIGHTS OF BAHAMAS
($75.00 courier to the U.S., Central America & The Caribbean and $100.00 for Europe)
US $ 75.00 - 100.00
US $ 650.00
US $ 250.00
US $ 100.00
US $ 250.00
US $ 1,500.00
US $ 250.00