Bank Account Opening

Currently, Belize has five offshore banks that provides banking services to non-resident customers and offshore IBC`s. They all provide a wide range of personal and corporate banking services loans to letter of credit.

For a bank account to be approved, the bank will need to identify the actual beneficial owner(s) of the IBCcompany. All individuals, as well as the signatories, will have to be properly identified and also provide a number of documents – such as a certified copy of passport, a banker’s and professional reference, a detailed description of the business and an anticipated activities forecast.

Belize has strong and proven banking privacy laws which are the foundation ofits offshore banks. The bank will request and hold detailed information about its client, but this information will be protected by the banking secrecy laws.

There are civil and criminal penalties for individuals who divulge such information without the proper legal approvals. Confidential client information can only be released by the bank if ordered by the courts in Belize.

Bank Account Requirement: Besides the standard notarized identification and company documents, the client will have to provide additional documents such as a professional and personal reference and sometimes a short summary of the business.