Opening a bank account in Belize

Depends if you are talking an "Offshore" Account or a "local" account.

All bank accounts in Belize for expats require the Central Banks approval.

Offshore accounts usually require depending on the Bank..

Bank reference, usually one or two banks depending on what bank you use. Usually they ask that the reference be from a bank that you have been with for over 2 years and that the account is in good standing. Some require actual phone and fax verification on top of that.

Passport and or other photo ID.

Proof of address. Usually a utility bill. But depending on the bank other things can be used.

Statement of where you income came from. Typical global KYC (Know your Customer) rules.

Some require an additional business reference from an attorney or accountant.

You cannot be a resident of Belize for an offshore account. However if you are applying for the Qualified Retirement program you will not have a problem getting an offshore account.

All banks in Belize are subject to the unwritten golden rule.."Those who have the gold make the rules." Any or all of these requirements can be overlooked if you have connections and lots of money. Depends on the bank and how much they want your money.

All require Central Bank approval. This might take up to 3 weeks.

Believe it or not it is pretty easy if you have the passport, bank reference and address verification.

Local accounts are usually only for residents of Belize. But there are exceptions.

Please note..There is no FDIC insurance. If your bank goes under it is between you and the bank. The government does not insure accounts.

All money going in and out of Belize requires Central Bank over site. Telegraphic transfers can take up to 3 weeks or more to clear the Central bank.