Obtaining a forex licence in Belize - YB Case 2024

Obtaining a forex licence in Belize

Obtaining a forex licence in Belize

Belize is a small country in Central America that has attracted increasing attention from entrepreneurs in recent years. It is considered a suitable choice due to its loyal legislation and relatively simple application process. Obtaining a forex licence in Belize opens up a number of attractive opportunities for firms. In particular, it gives the opportunity to legally present in the local business market, to transact commerce and safeguard the money of their clients. Quite loyal legislation, based on the model adopted in the UK, makes Belize a suitable option for entrepreneurs from all over the world.

This dominion is apposite not solely for forex intermediaries, but likewise for investment enterprises. Grounded on the British jurisprudence archetype, the statutes of Belize proffer propitious conditions for conducting commerce. An accredited intermediary is mandated to adhere to stringent IFSC stipulations, which assures lucidity and security for clientele. Accredited intermediaries are also compelled to maintain client capital in discrete accounts, which assures protection. IFSC Overseer. This entity is accountable for dispensing licenses, scrutinizing the conduct of intermediaries, and ensuring their adherence to statutes.

Belize for commerce: boons and peculiarities

Among the principal boons is the simplicity of enrollment. Here you can enlist an enterprise online in merely a few days. The nation is distinguished by propitious taxation: there exists an exceptional scheme of territorial taxation, which implies that entities remit levy solely on revenue procured directly in Belize. The corporate levy rate is 25%, yet there are also several abatements that can markedly diminish it.

  • The lack of monetary oversight is likewise enticing for magnates. Belize has no currency regulations, permitting capital to circulate unfettered in and out of the nation.
  • Its pivotal placement adjacent to significant markets in the US, Mexico, and Central America affords enterprises access to multitudes of prospective patrons. Belize is a constitutional monarchy with an extensive record of steadiness, which is appealing to industrialists. It boasts a well-advanced framework, encompassing telecommunications, conveyance, and harbor amenities.
  • English is the sanctioned tongue of Belize, which markedly eases commerce with international affiliates.
  • It is imperative to acknowledge several idiosyncrasies. The economy of Belize is comparatively minute, potentially constraining expansion prospects for certain enterprises. The expenditure of living is exponentially greater than in various other Central American nations. As in any other locale, there exists red tape in Belize, which can decelerate the commercial operation. Regrettably, the criminality rate here surpasses that of several other advanced nations.
  • A salient issue is malfeasance, which can complicate the conduct of business.

Pros of acquiring a forex licence in Belize

Belize has enshrined itself as an apt dominion for intermediaries owing to the ensuing boons:

Ease of obtaining a licence:
The entreaty procedure for a foreign exchange dispensation in Belize is comparatively uncomplicated and unambiguous in contrast to other dominions, and the stipulations are pellucid. The duration for procurement is comparatively brief, usually 4 to 8 months.
Low Costs:
Government levies and impositions for procuring and sustaining a foreign exchange permit in Belize are comparatively trifling compared to other realms. Nominal capital stipulations are also meager.
Tax incentives:
The country proffers myriad fiscal enticements for transnational enterprises, encompassing currency exchange intermediaries. There exists no corporate, dividend, pecuniary, or increment of capital prosperity levy.
Market Access:
Procuring a charter in Belize facilitates agents to conduct lawfully in the global forex markets. The nation is a constituent of the Caribbean Community (CARICOM), affording entry to the marketplace of fellow member nations.
A fairly flexible legal system:
According to the customary law of the UK, the arrangement is cognizable and foreseeable to investors from Anglophone nations. The statute overseeing forex activities is contemporary and congruent with global benchmarks.
Belize is a steadfast and dependable realm with a mature infrastructure. The governance vigorously advocates for the advancement of the nation's pecuniary sector.
Multilingual environment:
English is uttered in the realm, which renders it more convenient to transact commerce and communicate with patrons and associates from disparate nations.

It is imperative to observe that procuring a forex franchise in Belize does not exclusively come with perks, but also specific obligations. Agents shall need to satisfy rigorous regulatory requirements and adhere to AML/CFT decrees. It will also be crucial to uphold scrupulous records and undergo periodic scrutinies.

However, on the whole, procuring a forex licence can prove to be a remunerative choice for intermediaries seeking a jurisdiction with an uncomplicated patent procurement process, nominal expenditures, fiscal advantages, and entry to global markets.

Taxation in Belize

Enterprises enrolled as International Business Companies (IBC) re fully exempt from income tax on profits from activities carried out outside the country. This means that a forex firm will only pay tax on profits derived from activities within the country.


A forex establishment in Belize garnered Belizean $10 million in gains, of which Belizean $8 million was procured from endeavors outside Belize. The revenue levy will be (B$2 million * 25%) = B$500,000.

Tax type



Corporate tax

Tax on a company's net income.


Tax on dividends

Tax on dividends paid to non-residents of Belize.

No charge

Capital gains tax

Income tax on gains from the sale of shares and other securities.

No charge

Stamp duty

Annual company registration fee.

1000 BZD

Licence fee

Annual forex licence fee.

$10,000 USD

VAT (Value Added Tax)

Excise on commodities and amenities vended in Belize.


Payroll tax

Employee payroll taxes.

5% - 25% (depends on income)

Social security tax

Employee social security tax.

2.5% - 5% (depends on income)

Tax exemptions apply only to companies that do not conduct commercial activities in the country.

Requirements for obtaining a forex licence

Your establishment necessitates to fulfill specific prerequisites to procure a foreign exchange permission.

  • You shall necessitate to enroll an International Business Company (IBC) or a Limited Liability Company (LLC).
  • The minimal sanctioned pecuniary for a currency merchant in Belize is $500,000.
  • At least one overseer of the enterprise must be an inhabitant of Belize. Stockholders may be non-dwellers.
  • The enterprise must possess a corporeal abode in Belize.
  • A comprehensive commercial scheme delineating the enterprise's undertakings, focal demographic, and fiscal prognostications must be tendered.
  • The concern must adhere to all anti-money laundering (AML) and countering the financing of terrorism (CFT) prerequisites in Belize.
  • The firm's pecuniary affirmations must be scrutinized yearly by an autarkic auditor.

The process of acquiring a forex licence in Belize:

The procedure of procuring a permit is comparably uncomplicated and unswerving, rendering the jurisdiction apt for brokers.

  • Enregister a LLC or IBC in Belize.
  • Inaugurate an account with a indigenous bank.
  • Submit an entreaty with the International Financial Services Commission. Append all requisite papers, comprising articles of inception, enterprise scheme, particulars on governors and partakers, and evidence of share wealth.
  • Remunerate the necessitated petition and patent remunerations.
  • The IFSC shall scrutinize your petition and execute an examination of your establishment.
  • Upon efficacious culmination of the examination, you shall obtain a currency exchange authorization.
Typically, the endeavor of acquiring a forex authorization in Belize typically consumes between 4 and 8 moons. The expenditure may fluctuate contingent on the intricacy of your entreaty and the levies imposed by the IFSC. Broadly, it will require you between $10,000 and $25,000.

Prior to petitioning for a foreign exchange license in Belize, it is judicious to acquaint oneself with the IFSC legislation and regulations. It is also prudent to solicit professional legal counsel.

Forms of companies wishing to obtain a forex licence in Belize

When selecting betwixt Limited Liability Company (LLC) and International Business Company (IBC) enrollment, it's of import to contemplate your commercial aspirations and projected pursuits.

Limited Accountability Conglomerate (LLC):

Employing an LLC to procure a forex authorization is theoretically feasible, notwithstanding, in practicality it is not the most usual alternative as it possesses a multitude of drawbacks.

  • The process of enregistering an LLC in Belize is ordinarily more straightforward and expeditious than enregistering an IBC.
  • In this instance, both domiciliary and non-domiciliary overseers and associates may be in governance.
  • Fiscality: for domiciliary LLCs conducting commercial undertakings in Belize, there is a corporate impost of 25%. Nonetheless, non-domiciliary LLCs garnering revenue outside Belize may relish tax immunities.
Data concerning the overseers and constituents of the Limited Liability Company becomes publicly accessible.

Rather than an LLC, it is advisable to utilize an Intercorporate Concern (IBC) to procure a forex authorization. Intercorporate Concern (IBC) Using an IBC is a habitual practice.

  • Duties: Brokerage establishments are absolved from increment earnings toll, corporate toll, and dividend toll.
  • Conducting affairs overseas: IBCs are apropos for companies intending to conduct affairs beyond the borders.
  • Data regarding the executives and stakeholders of IBCs is rigorously classified.
  • The maneuver of enrolling an IBC is typically more labyrinthine and dear than enrolling an LLC.
  • At minimum one overseer of the IBC must be a denizen of the realm (this might be a surrogate overseer provided by the registration agent)..




Facilitude of enrollment

Facile and swifter

It's harder and longer


Resident and non-resident directors/participants


25% for resident LLCs doing business in Belize. Non-resident LLCs may enjoy exemptions.

Exemption from corporate tax on company capital gains as well as dividend tax for IBCs not operating in Belize.

Doing business abroad


Suitable for doing business outside Belize

Prerequisites for the director

No requirements

One director must be a resident of Belize (may be nominee)

Expense of enrollment


More expensive

Suitable for:

Brokers planning to do business in Belize

Brokers planning to do business outside Belize

Select a Limited Liability Company if simplicity of incorporation is a precedence, if you intend to engage in commerce beyond the borders and are indifferent to divulging details about the proprietors.

However, an International Business Corporation (IBC) is a more apropos selection, particularly if tax advantages are of paramount concern to you, you have resolved to conduct commerce beyond the nation's borders, and confidentiality holds significant sway for you.

Assistance in acquiring a forex licence

YB CASE is a consultancy that aids intermediaries in obtaining authorization in Belize. We furnish the ensuing assistance to patrons:

  • Enrollment of the enterprise in one of your selected configurations: IBC or LLC.
  • Facilitate and dispatch a permit entreaty to the IFSC.
  • Ensuring congruity with IFSC requisites.
  • Juridical backing at every phase of the progression.

Pros of contacting our firm:

  • Proficiency in aiding firms pursuing forex charters.
  • Familiarity with IFSC requisites.
  • Celerity and alacrity of labor.
  • Craftsmanship of personnel.
  • Discretion.

Acquiring a permit is a convoluted endeavor and it is imperative to ready meticulously. Reach out to us, we are perpetually delighted to assist you.

Service order form
The field must be filled
How can we contact you?*
Please enter a valid e-mail
Please enter a valid phone number
Your comment