Companies in Belize offer various financial services, from trading in securities to money transfer services, trading in foreign exchange as well as money exchange. The latter is a service that allows clients to exchange their money at competitive rates as well as with beneficial conditions, such as immediate availability or no commissions, as per the company’s actual exchange offer. Buying and selling foreign currencies is a service that is commonly requested, even more so because many foreign investors are interested in Belize company formation.
In order to obtain the international money exchange services licence in Belize, companies will need to apply for it with the International Financial Services Commission (IFSC), as well as comply with the ongoing requirements.
Investors who open a company in Belize and offer international money exchange services need to comply with the following requirements:
The Financial Services Commission issues the requirements listed herein.
One of our Belize offshore company formation specialists can provide investors with more information about these conditions, prior to their submission of the license application.
The following list includes some of the most important restrictions for licensees that are engaged in money exchange activities. This is not to say that these companies are prohibited from the following actions, however, they can only be performed with the written approval of the International Financial Services Commission. These are the following:
One of our agents who specialize in Belize company registration can provide investors with more detailed information about these activities that need prior approval from the authorities. Moreover, the International Financial Services Commission also has the right to approve the changes in the original shareholding, directorate or management structure of the company holding the license.
A company that holds a license for money exchange is required to establish a meeting with the International Financial Services Commission at least once a year. During this meeting, the company’s activity for the previous year will be reviewed and its prospects for the year in course will be discussed.
In order to open a company in Belize that offers money exchange services, investors will need to first incorporate a company as per the local rules.
Investors who open a company in Belize have access to a favorable business climate and the absence of corporate taxes. Below, we highlight some of the statistics for investments in Belize.
According to a recent Business establishment survey, there were 4,154 businesses from different economic sectors (except for banking and insurance). Below, we highlight the number of companies for some of these sectors:
Contact our Belize company formation specialists for more details about obtaining special permits and licenses, like the international money exchange service license, as well as others.
Our lawyers in Belize offer legal counsel and guidance to investors who wish to know more about licensing and the relevant laws applicable to the business field in which their company operates. We can also answer important questions about other legal issues, including but not limited to contract law, employment, intellectual property law, and more. You can reach out to us for more information.