Belize Banking

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Belize has only five commercial banks, but there are several offshore banks operating In order to cater the many offshore companies registered there, including the Belize Trust. Since their first entry into Belize 25 years ago, the offshore banking sector has grown substantially, and Belize has become a reputable, full-service offshore jurisdiction.

English is the primary language spoken in Belize, and banks offer online banking and wire transfers, as well as internationally recognized credit and debit cards. Opening a bank account in Belize can be done in just two days.

The account holder does not need to be present in order to open the bank account. Offshore banks are not allowed to do business with citizens or legal residents of Belize, and cater strictly to the international community. Bank references are usually required, as well as personal information about the account holder.

In addition, Belize's banking secrecy laws are very strong, and information will only be released in the case of a local (not foreign) criminal investigation such as drug trafficking or money laundering. Belize's international banks are exempt from foreign currency controls, and Belize offshore companies are not required to pay taxes on income derived outside Belize's jurisdiction.