Belize authorized banks, financial institutions and western union providers

 

 

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.

  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. 

 

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.”

There are two categories of Belize international banks:

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:

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

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

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

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

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

​​

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     

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

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

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

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

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

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

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

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

​​

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

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

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

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

​​

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

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

​​

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

                                               Name of Approved Money Transfer Service Provider

  • ​Belize Bank Limited​

  • Belize Bank Limited  (BBL)/MoneyGram International (MGI) Agent 60 Market Square, Belize City

  • Belize Bank Ltd - Belmopan   Corner Constitution Drive & Melhado Drive, Belmopan City

  • Belize Bank Ltd - Corozal   Corner 5  th  Avenue & st

  • Street, North, Corozal Town   Belize Bank Ltd - Dangriga

  • 24 St. Vincent Street, Dangriga Town    Belize Bank Ltd - Northside Branch

  • The Matalon Business Center, Suite 100, Coney Drive, Belize City

  • Belize Bank Ltd - Orange Walk   34 Main/Park Street, Orange Walk Town

  • Belize Bank Ltd - PGIA   Phillip S.W. Goldson International Airport, Ladyville Village

  • Belize Bank Ltd - Placencia   Main Street, Placencia Village, Stann Creek

  • Belize Bank Ltd - Punta Gorda   Main & Hospital Streets, Punta Gorda Town

  • Belize Bank Ltd - San Ignacio   16 Burns Avenue, San Ignacio Town

  • Belize Bank Ltd - San Pedro    Barrier Reef Drive, San Pedro Town

  • Belize Chamber of Commerce & Industry   (BCCI)/Western Union (WU) Agent

  •                                                       Affiliated sub-agents

  • 88 Shopping Center    Central American Boulevard, Belize City

  • Allen’s Hardware   Western Highway, Santa Elena Town

  • Ambergris Lake Villas  Mar de Tumbo, San Pedro Town

  • Amrapurs Two   Queen Victoria Avenue, Orange Walk Town

  • Amrapurs-Orange Walk  Belize Corozal Road, Orange Walk Town

  • Atlantic Bank Ltd - Airport Agency   Phillip S.W. Goldson International Airport, Ladyville Village,

  • Atlantic Bank Ltd - Albert Street  Albert Street, Belize City

  • Atlantic Bank Ltd - Belmopan   Garden City Plaza, Belmopan City

  • Atlantic Bank Ltd - Caye Caulker   Avenida Langosta, Caye Caulker

  • Atlantic Bank Ltd - Collet Agency   Cemetery Road, Belize City

  • Atlantic Bank Ltd - Corozal   Street North, Corozal Town

  • Atlantic Bank Ltd - Ladyville Agency   9 Miles Northern Highway, Mirage Road, Ladyville Village

  • Atlantic Bank Ltd - Main Branch   Freetown Road/Cleghorn Street, Belize City

  • Atlantic Bank Ltd - Orange Walk   Belize Corozal Road, Orange Walk Town

  • Atlantic Bank Ltd - Orange Walk   Main Street, Orange Walk Town

  • Atlantic Bank Ltd - Placencia   Main Street, Placencia Village

  • Atlantic Bank Ltd - San Ignacio   Columbus Park/Burns Avenue, San Ignacio Town

  • Atlantic Bank Ltd - San Pedro   Pescador Drive, San Pedro Town

  • BCCI/WU Branch   No. 1 Youth for the Future Drive, Belize City

  • Beauty Plaza   Church Street, Belize City 

  • Celina’s Super Store   Burns Avenue, San Ignacio Town

  • Computer Ranch Center Road, Spanish Lookout, Cayo District

  • Courts Belize   Northern Highway, Belize City

  • Doony’s   Albert Street, Belize City

  • Doony's Instant Loan Limited   8 Park Street South, Corozal District

  • Downtown Jewelry Exchange Limited   25 Commercial Center, Belize City

  • Escalante Tire Supply   Savannah Road, Independence Village

  • Havana Pharmacy   22 Havana Street, Dangriga Town

  • Low's Supermarket   8½ Miles Northern Highway, Ladyville Village, Belize District

  • Mahung’s    Corner North/Main Streets, Punta Gorda Town

  • Papi’s Homecenter   5795 Forest Drive, Belmopan

  • Paz Villas    Pescador Drive, San Pedro Town

  • Quick Stop Personal Finance Center   Savannah Street, San Ignacio Town, Cayo District

  • Quick Stop Personal Finance Center 2nd Floor Capital Garden Plaza, Constitution Drive, Belmopan

  • St. John's Credit Union Ltd - Belize City  ​4 Basra Street, Belize City

  • St. John's Credit Union Ltd - Belmopan City 14 Sinsonte Avenue, Belmopan City

  • St. John's Credit Union Ltd - Dangriga Town  9 Bluefield Road, Dangriga Town

  • Syd’s Restaurant Avenida Langosta, Caye Caulker

  • Westar Truck Stop  Mile 49, Western Highway, Roaring Creek Village, Cayo District

  •                  LIST OF APPROVED MONEY TRANSFER SERVICE PROVIDERS

  • 4792 Coney Drive, Belize City

  •                                               Affiliated sub-agents:

  •  

  • Costless Wholesale Club Limited   (CWCL)/MoneyGram International (MGI) Agent

  • Western Highway, Santa Elena Town, Cayo

  • Costless Wholesale Club Ltd  48 Queen Victoria Avenue, Orange Walk

  • Costless Wholesale Club Lt​ Studio 7 West Street, San Ignacio Town

  • Costless Wholesale Club Ltd 1670 Ecumenical Drive, Dangriga Town

  • Costless Wholesale Club Ltd Jimmy's Wireless, Constitution Drive, Belmopan

  • GMS Investments Limited 7 New Road, Belize City

  • Maria Estella Unisex Beauty Salon  Emporium Plaza Piscini Area, Belmopan City

  • Palace Special Center   70A Neals Pen Road, Belize City

  • Parts Unlimited  Hummingbird Highway, Belmopan

  • Twin Supermarket  5526 St. Thomas Street, Belize City

  • Toledo Teachers Credit Union  Queen Street, Punta Gorda Town

  • (TTCU)/ MoneyGram International (MGI) Agent  TTCU  Bella Vista Village, Toledo

  • Korea Electronics   77 Freetown Road, Belize City  (KE)/ MoneyGram International (MGI) Agent 

  • Loans 2 Go   8 Albert Street, Belize City

  • PC.Com   Market Square, Belmopan City, Cayo District

  • Seahorse Dive Shop   Placencia Village, Stann Creek District

  • 88 Trading Center   Corner Neals Pen Road & Central American Boulevard, Belize City

  • ZITRO International Limited   (ZIL)/Western Union (WU) Agent  126 Freetown Road, Belize City

  • Cellular Plus Limited - Belize   33 Freetown Road, Belize City

  • EDAM Ltd   160 Constitution Drive, Belmopan City

  • Gadgets    100 Central American Boulevard, Belize City

  • Gadgets    63 Mosul and Cemetery Road, Belize City

  • Gadgets   4552 Youth for the Future Drive, Belize City

  • Saam Private Ltd   6 Belize Corozal Road, Orange Walk

  • Saint Martin’s Credit Union   Corner Eve and Church Street, San Ignacio Town, Cayo District

  • Security & Intelligent Solutions Limited   20 Tiger Avenue, Belmopan City

  • ZITRO International Limited   Marble Arch Building, Albert Street, Belize

  • ZITRO International Limited   Corner Riverside and Commerce Streets, Dangriga Town

  • ZITRO International Limited   86 4th Avenue, Corozal Town

  • ZITRO International Limited   22 Main Middle Street, Punta Gorda Town

  • ZITRO International Limited   3 Ramon’s Plaza, 8½ miles Phillip Goldson Highway, Ladyville.

  • ZITRO International Limited   911 Coconut Drive, San Pedro Town, Ambergris Caye

Belize authorized banks, financial institutions and western union providers

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