Obtaining banking licenses in Belize

List:

• • E-commerce is poorly developed in the territory of the country, therefore there should be physical office with full staff and ability to provide services to all categories of citizens. Expensive communication infrastructure should not prevent the bank from conducting online transactions with counterparties that have access to electronic banking.

   

  For majority, the type of future certificate is determined by the amount of the contributed charter capital upon obtaining license.

  It is important to note the difference in the terms of issuing the license, because the period for verifying the organization for obtaining the license of class B will be about twelve months, while obtaining the license of A class will take eighteen months.

  Depending on the facts how comprehensive is coverage of the audience by the bank and the number of services it provides, the central regulator can issue license of A or B class. The first one allows unrestricted activity with clients all over the world (at the same time, the head office remains in Belize and is obliged to maintain its operation). The certificate for B class bank implies certain restrictions. The list of services that an enterprise can provide with this permission is indicated on the license form itself. In addition, it can be clarified by specialists from Law&Trust. Legal entity of Belize should necessarily have the abbreviation "LTD" in the name. This designation corresponds to "LLC". Limited liability companies are subject to slightly different requirements than those imposed on corporations with different organizational structure.