Belize International (Offshore) Bank Overview
Belize’s modern international banking legislation provides for a sound regulatory structure, making it attractive to reputable entities. A Belize international (offshore) bank is licensed under Belize’s International (Offshore) Banking Act, 1996, to carry on international (offshore) banking business exclusively with non-residents of Belize.
A Belize International (Offshore) Bank can carry on the following activities within Belize
- establish, maintain, and operate a business office in Belize;
- transact international (offshore) banking business through its business office in Belize either as a Class A or Class bank;
- transact international (offshore) banking business with Belize Export Processing Zone or Commercial Free Zone entities.
Competitive Advantages of having a Belize International (Offshore) Bank
Taxation
A Belize International (Offshore) Bank is exempt from …
- stamp duties on Bills of Exchange and promissory notes payable on demand and any other document of the same nature executed by an international banking business, whether within or outside of Belize, except for an instrument relating to a transfer, mortgage or assignment of property of any kind situated in Belize, whether real or personal, tangible or intangible, corporeal or incorporeal, including any interest in land in Belize or any shares in a company incorporated under the Companies Act.
- all forms of taxation in respect of any dividends, interest or other returns from any shares, securities, deposits or other borrowings or any assets or property managed;
- all forms of taxation on its profits and gains, or upon any interest or dividends earned in respect of international (offshore) banking business carried on from within Belize;
Exchange Control
A Belize International (Offshore) Bank is not subject to exchange control regulations.
Confidentiality
It is an offence to disclose any information relating to the affairs of a licensee or any customers of a licensee except where such information is:
- lawfully required or permitted by order of a Belize Court;
- voluntarily given with the authority of the licensee or a customer, as the case may be;
- disclosed by the Central Bank of Belize to a banking regulatory or supervisory authority outside of Belize where such information is considered necessary for the authority to exercise functions similar to those of the Central Bank of Belize.
