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  Professional offshore incorporations and offshore banking services since 1996

Caribbean bank account in Belize

We can help you open a bank account in Belize:

Please be advised that we recommend the following banks for your banking needs:

1. Atlantic International Bank - www.atlanticibl.com
2. Provident Bank & Trust -
www.providentbelize.com
3. The Belize Bank Limited www.belizebank.com
4. Bank of Saint Lucia www.privatebankslu.com
5. FBME Bank in Cyprus www.fbme.com
6. Rietumu Bank in Latvia
www.rietumu.com

Each of the above banks has different requirements however all of them will require the following:

1. Notarized copies of each signatory’s passport
2. original bank reference letter (or) 1 original bank reference letter and 1 original character reference letter (attorney or accountant) (must be in English)
3. A copy of a utility bill confirming place of residence
4. Original Bank Application Forms
5. We will provide certified corporate documents to bank

How things work:

You will choose the bank you prefer the account to be establish with and advise us of same. With the incorporation documents we will also send you the bank forms to be filled out and signed where indicated. You will then send us scan copies of the bank forms for us to review before the original is couriered to our office. After revision of the forms, we will send you our comments and advise you if any documents are missing. When all is in order, you will then courier the original bank forms to our office address and we will in turn forward same to the bank along with certified copies of the corporate documents.

Some Details for Provident Bank & Trust in Belize:

  • Letters Of Credit
  • Internet Banking
  • Brokerage/Investment
  • Credit Card - Visa or MC Prepaid and secured available.
  • Requires bank references and notarized passport for I/D
Account Information
Personal Savings 

Term Deposits

Demand Deposits

International Credit Cards

 

Personal Savings Account

This account is for personal use only, and will be opened in your personal name.

The minimum required to open a savings account is $1,000.

Interest of 2% per annum is earned on balances $500.00 and above and is paid on a quarterly basis.

Demand Deposit Accounts

Most commonly used for International Business Companies (IBCs)

This is a non-interest bearing account.

Checks cannot be drawn on this account

The minimum amount required to open an account is $1,000.00

This balance is required to be maintained at all times and a US$25.00 charge is applicable if the balance falls below US$1,000.00.

Fixed Term Deposits

The minimum amount required to establish a fixed term deposit is US$20,000.00.

Interest rates on time deposits vary depending on the amount and the time period for which the deposit is placed with us.

Interest payment will be paid at Maturity and credited to your Account held with the bank.

International Credit Cards

The bank offer both VISA and MASTERCARD credit cards.

The card can be granted in the name of the International Business Company (IBC).

The credit card needs to be secured with cash.

The security requirement is for 125% of whatever limit is requested, to be placed in a hypothecated deposit with us.

The interest rate on the credit card is 1.83% per month. (Only applied if full balance due on Credit Card is not paid).

Yearly renewal membership fees are: US$50.00 for Personal cards. (US$25.00 for each additional cardholder); US$100.00 for Corporate cards. (US$50.00 for each additional cardholder)

Repayments are required in US dollars.

The bank offer the service of paying your monthly credit card bills by debiting your account.
The cost is US$10.00 per debit, and no additional charges for this service.

Requirements to open a Personal/Corporate Account
In order to better serve you and to avoid any possible delay in opening your account the bank kindly ask you to complete the following forms or requirements:
Application Form (we'll email it to you)

  1. Complete the application form to open an account, including the section for signatures. This section must capture the signatures of all the parties to the account, and be notarized in the event the signatory(ies) is (are) not in Belize.
  2. Certified Extract of Board of Directors Meeting if the applicant is a company.
  3. Statement of Non Resident Status. (We can only do offshore banking business with non-residents of Belize.)
  4. Indemnity for Facsimile, E-Mail and Telex Instructions which includes a section to “Insert Code” in order to authenticate your instructions when received by any of these means. Please note that the use of code words is not mandatory but customers are encouraged to use them.
  5. Complete the attached Anticipated Activity Form New Accounts.


References
A suitable Bank Reference must be submitted for each of the signatories to the account (personal and corporate accounts), beneficial owner(s) and director(s) of a company (corporate accounts). References from an acceptable lawyer or accountant may be considered in substitution of bankers’ reference. A bankers’ reference will only be accepted from an acceptable financial institution and should be an institution with which the person has had a relationship for at least two (2) years. This should be stated in the reference. (eg., length of relationship, nature of business, and average balances where possible).

Identification
We require an identification, which must bear the customer’s picture and signature. If the customer is not in
Belize, the copy of the identification must be notarized. The following are acceptable: picture and signature
page of a valid passport, or a valid driver’s license.

Confirmation of Address
Street and country address of the parties to the account are required.

Company Documents (we provide)
In the case of a company, in addition to the above, the following are required:
1. Certificate of Incorporation, and Articles and Memorandum of Association.
2. Certificate of Good Standing (if company has existed for 12 months or more).
3. Subscribers appointment of directors of the company.
If the company is not registered in Belize the Certificate of Incorporation, and Articles and Memorandum of
Association must be notarized. If these documents are not in English, we require suitably translated copies
of these documents.

Initial Deposit
The minimum deposit required to open an account is USD 1,000.00 or its equivalent. (Please note that the bank
will only accept cash deposits up to a maximum of USD 10,000.00 per deposit or a maximum of USD 50,000.00 in a calendar year.)

Fees and Charges
Bank Drafts / Cashier's Checks

Cash Transactions

Wire Transfers

Debit to Accounts

Monthly Statements

Courier Charges

Telephone / Fax / Telex Charges

Letters of Reference

Retained Mail

Returned Items

Stop Payments

Availability Schedule for Checks & Drafts

Cancellation of Account b/f 3 Months

 

 

 Bank Drafts / Cashier's Checks: A charge of US$20.00 per Draft/Check. 

 Cash Transaction: Cash Withdrawals are limited to US$1,000.00 per transaction and are subject to a handling fee of 2% or a minimum of US$30.00.

 Wire Transfers: US$70.00 within the U.S. US$80.00 for all other jurisdictions. The Bank also reserves t he right to recover any additional charges from the customer.

 Debit to Accounts: A charge of US $10.00 per debit item is applicable.

 Monthly Statements: First copy no charge. Additional copies US$5.00 each. (Please note that statements will only be supplied when requested.)

 Courier Charges: A charge of US$50.00 per courier item - one-way. (FedEx or DHL)

 Telephone/Fax/Telex Charges: The Bank reserves the right to recover costs incurred on behalf of the customer.

 Letters of Reference: A charge of US$25.00 per letter.

 Returned Items: A charge of US$35.00 plus interest is levied.

 Stop Payments: A charge of US$35.00 each. 

 Availability Schedule for Checks and Drafts: Normally 3 to 8 weeks for checks drawn within the U.S. Checks drawn outside the US will be sent on collection and the Bank will bear no responsibility if the clearing of these checks exceed six weeks. Checks and Drafts sent for collection will incur a US$75.00 charge plus courier charges.

 Cancellation of Account Before 3 Months: A charge of US$50.00 is levied

Application Forms: We will send you by email.

References: Please note that in order to establish an account with us, non-residents of Belize are required to provide a notarized copy of a picture ID (preferably from a passport) along with two up to date banker's references which should evidence a banking relationship for eighteen months or more. These references should be sent directly from your bank to the bank in Belize. Faxed references are accepted but a hard copy should follow within two weeks. The information requested should be as detailed as possible and must include information on the type of relationship you have with the institution (e.g. a depositing or borrowing relationship), the amount of business conducted with the institution (e.g. high five figures or low four figures etc.) and any other basic information that shows satisfactory operation on your behalf. These references would need to be provided for all signatories on the account.

Identification: The bank require an identification (preferably a passport), which bears the customer's picture and signature. If the customer is not in Belize, the copy of the identification must be notarized.

Confirmation of Address: Street and country address of the parties to the account is required.

Trust Accounts: In order to open a Trust account with the bank, the requirements are similar to those outlined above for other accounts in that we would require bankers references etc. for all parties involved in the trust including the settler, trustee, beneficiaries and a protector if applicable. The bank would also need to be supplied with a copy of the Declaration of Trust and if any of the parties to the trust were a company, the bank would need to obtain the information outlined above for the principals of the company.

Company Accounts: In order to open the account for an IBC, in addition to references and identification, the bank will also need:

1. A copy of the Memorandum and Articles of Association
2. A copy of the Certificate of Incorporation
3. A copy of the Share Certificate of the company.
4. Certificate of good standing if the IBC was not incorporated in Belize

If the company was incorporated with Bearer shares the bank need to have a written undertaking from the owner of the IBC that those shares will not be transferred to anyone else without bank prior knowledge.

All documents should be in the English Language.

 


Order a Belize bank account here
(with or without a Belize company)
 


Available from Belize:

 

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Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.


Please go to our Uses of offshore Companies Page where you will find interesting information on the benefits of using offshore companies and trusts for business and personal use, links to information on other locations and details of our products and services.

 


 

 

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