Obtaining a PSP License in Belize

Payment systems operating on the basis of plastic cards and electronic internet services have been successfully functioning in the market for a long time. This popular business sector has significant profit potential, especially in the field of e-commerce, including online gambling.

For lawful operation, payment processors must obtain a state license from the country whose jurisdiction they fall under. Without such a license, it is impossible to operate a payment center that directly handles payment processing, connecting financial institutions and merchants with the end consumers of goods and services. One of the best options for entrepreneurs is to obtain a license and launch a payment system in Belize.

Advantages of obtaining a PSP license in Belize

Licensing a payment system in this jurisdiction provides a number of advantages:

A variety of available permits
A relatively straightforward licensing procedure
No corporate income tax
Expedited application review (approximately 90 days)
Competitive licensing costs

It is also worth mentioning Belize itself. The jurisdiction is fairly flexible, and non-residents are treated favorably, with relationships built strictly within the legal framework.

A payment operations license allows you to:

Issue checks and other payment instruments
Conduct clearing operations
Process transactions
Carry out operations using plastic cards and other instruments

It should be noted that Belize offers several types of licenses, and a single company may hold multiple permits simultaneously.

Law&Trust provides a wide range of services, including registration, licensing, and documentation for payment systems. Thanks to our many years of market experience, we guarantee our clients the best possible results quickly and efficiently, saving you time and resources.

Key requirements for obtaining a PSP license in Belize

The PSP license in Belize is issued in accordance with the Payment Systems Act (2012).
The key requirements for obtaining the license are as follows:

The company must be incorporated in Belize either as an International Business Company (IBC) or as a local company.
A registered office in Belize is required, which may be virtual; however, a local representative is mandatory.
A minimum paid-up capital of USD 75,000, confirmed by an auditor’s report.
A prepared business plan describing the operational model, target markets, and technologies.
Financial statements must be submitted to the Central Bank, along with proof of financial stability.
From a technical perspective, before obtaining the license, the applicant must equip the company with a reliable payment system protected against cyberattacks and compliant with international standards (PCI DSS if working with cards).

Permitted activities under PSP license

This license allows work with virtual money but does not grant the right to issue it. PSPs act as intermediaries between electronic money (E-money) issuers and end users, managing the flow of funds in various directions: