REQUIREMENTS FOR OFFSHORE BANKING LICENSE IN BELIZE

DOCUMENTS REQUIRED

Application for Offshore Banking License

Unrestricted A Class; or
Restricted B Class
Biographical Data of Directors and Officers
Financial Report of Directors and Officers
Two Character Reference for each Director and Officer
Police Report from state or country where lived last 3-5 yrs for each Director and
Officer
Letter of Recommendation from Banking Institution for each Director and Officer
Audited Reports of prior three years of the present Company
Application for Local Corporation for preliminary work and for submission
Application for International Business Company (if necessary)
Business Plan
OTHER REQUIREMENTS
Minimum Capital Requirement for Class A: not less than US$3,000,000 { not to be
Minimum Capital Requirement for Class B: not less than US$1,000,000 { encumbered
For both Class A and Class B, a Physical Office is required in Belize
Financial Statements are to be audited and physically verified by Officers of the Central
Bank and International Auditors
A minimum of five Directors is required
Resume of proposed CEO and Directors
The CEO and minimum one Director must be qualified and experienced in Banking,
International and Offshore Banking.
A Local Representative, Spokesperson will be required
You will also need a Local Attorney and CPA with Offshore Business experience (we
have associates who can provide this service)
PROCEDURE

The procedure for establishing an offshore bank in Belize takes place in four basic
steps:

Introductory Meeting

1 month

Interested parties can be introduced to the Manager of the Supervision Department of

the Central Bank at which time they will receive the application package.
Pre-Filing Meeting
This is to clarify any points not understood and also to name a spokesperson who will
represent you in all further contacts with the Central Bank.
Application Acceptance and Processing

2 months

The application form along with all support documents is processed upon receipt. You
will also be required to provide the following information: type of banking business to be
provided, corporate information, detailed business plan with financial projections and
historical and pro-forma financial statement
The non-refundable application fee will be due at this time
The Central Bank reviews the application to ensure that all sections are completed. If it
is incomplete, the spokesperson will be notified to submit any additions or corrections
before the application is accepted. Failure to do this will delay the process.
2-3
months
After acceptance, a thorough analysis is conducted. First: Due Diligence is carried out.
Second: if the due diligence is satisfactory, the decision to recommend approval is
based on the prospects for success of the proposed bank.
Organization of the New Bank

2-3 months

If approval is granted by the Minister, you are expected to proceed with organizing the
new bank and abiding by all the relevant laws and regulations and conditions stated
with the Ministers approval.
Total Estimated Time for Processing and Completing Application: 7-9 months
FEES TO THE GOVERNMENT

Application fee of US$500. (Non-refundable)

Annual License Fee for
Unrestricted A Class: US$20,000
Restricted B Class: US$15,000

REPRESENTATION SERVICES
Some of our Services will include the following:

Introduction and making appointments with officers of the Central Bank and
Government Ministers and Officials where necessary
Preparing and Filing of the Application
Preparation of Local and International Business Company
Liaison with Central Bank and Government Officials in obtaining approval of a Belize
Offshore Banking License
Work with Central Bank Officials on Terms and Conditions of License
Working on a Business Plan together with the proposed CEO and Directors
Working with Offshore Attorney and CPA on legal issues and audit of accounts
Local Director Services are also available
RETAINER & FEES
A US$7,500. Retainer is due at the beginning of the Application process. This retainer
will be held until completion of the project.
Thereafter, you will be billed on a monthly basis at US$125. per hour
Local Payments:
Out of pocket costs including telephone, fax, e-mail, photocopy, courier, secretarial and
accounting services and office supplies will also be billed monthly
A Separate Retainer will be required for additional services from Attorney, CPA and
disbursements for the proposed Offshore Bank Application
An Account can be set up at a local bank in the name of the proposed Company to take
care of local payments.
US DOLLAR OFFSHORE BANK ACCOUNT IN BELIZE

REQUIREMENTS FOR AN INTERNATIONAL BUSINESS COMPANY (IBC)

and PERSONAL & JOINT PERSONAL ACCOUNTS
DOCUMENTS required for all Signatories and Directors

Color Copy of Passport (Notarized in English)

Two Recent/Original Bank Reference Letters with a relationship of 2 yrs. plus, also to be
included in letter is length of relationship, nature of business and average balances for
all Signatories (If two bank references are not available, a letter of reference from your
Attorney or CPA would be acceptable in lieu of the second bank reference. Request
Sample Letter.) All References are verified by the bank.
Original Utility Bill (for proof of address)
Full address, telephone, fax, email and website address if applicable.
DOCUMENTS required for Corporate Accounts
IBC Certificate of Incorporation
Memorandum and Articles of Association
Certificate of Good Standing (If Company is older than 1 yr.)
Resolution of Directors and Officers and Register of Directors
Copy of Share Certificate (s) and Share Register
Note: If Company is registered in another Jurisdiction, all documents must be notarized)
BANK FORMS

Application forms/Bank Mandate/Signature Cards

Operation and Verification of Account Agreement
Banking and Signing Resolution of Directors
Anticipated Activity for New Accounts Form giving details on business activity
Declaration of Source of Funds/Support documents may be requested
Indemnity for Verbal/Fax/Email Instructions
Online Banking Application
Note: Signatures on bank application forms must correspond with that in passport.
DEPOSITS & FEES REQUIRED
Initial Deposit to open Account and to be maintained at all times
US$1,000.
Cost of Processing Bank Application
US$450.

Administrative Costs (estimate) including

Telephone, Fax, Photocopy & Courier

US$100.
TOTAL COST

US$550.

OPTIONAL SERVICES

+ Annual Cost of Nominee Director Services with Indemnity

$500.00
+ Annual Cost of Signatory to the Account
$500.00
Annual Cost of Deposits, Disbursements and Transfers
$250.00
Annual Cost of monthly reconciliation and forwarding of accounts
$250.00
Annual Cost of Mail Forwarding Services Fees
$196.87
Plus Deposit to defray expenses $ 50.00
Introduction to Offshore Banks
$250.00
+ Note: These services are only available at the anniversary date of the company.

GENERAL INFORMATION

Maximum CASH Deposit of $10,000 during calendar year

CASH transactions limited to $1,000. per day at minimum fee of $30. or 3% whichever
is greater
International Visa or MasterCard Credit Cards
International Debit Cards and Prepaid Debit Cards

Certificate of Deposits with attractive interest rates starting at US $25,000. Interest Rate
depends on amount of funds and time period. Present Rates range from 2.75% to
5.75% (Call for updated rates)
Wire transfer services at $70.00 for the U.S.A. and $80.00 for other countries
Online Banking Services available
Services include Bankers Checks, Standing Orders, Direct Debits, etc. (No Check
Books)
Monthly Statements available for $5.00 each
Fee of $50. charged for cancellation of accounts within 3 months
Our Cost for Closing Bank Accounts is US $150.00
Our Cost to reactivate Inactive or Dormant Accounts is US $100.00
Our Fee to increase/decrease credit card limit is US $100.
INTERNATIONAL VISA or MASTER CARD
CORPORATE and PERSONAL
OFFSHORE BANK IN BELIZE
For Holders of Bank Accounts
Requirements

Completed Application Form

Passport/Photo Identification (or Drivers License)
Bank or Attorney Reference Letter
Monthly Direct Debit Payment Services for payment in full
Visa access only and authorization to pick up card
For Non-Residents of Belize
Deposit & Fees
Credit Limits must be CASH Secured 150%
-(i.e. limit minimum US $1,000 = Security US $1,500)
Cost of Processing Visa Application:
Administrative Costs (estimated):

US $150.00

(include fax, photocopy, telephone, and courier)

TOTAL COST

US $100.00

US $250.00

Credit Card

You can have a Credit Card with both your name and the Name of the Company or your
Name Only or the Name of your Company only for greater privacy and confidentiality.
Annual Membership for Corporate Accounts $100.00, Personal $50.00
Additional Cards are $25.00 Each
Interest on unpaid balance is 1 % per month
BAHAMAS INTERNATIONAL BUSINESS COMPANY
ADVANTAGES OF THE COMPANY

Complete Privacy and Confidentiality

Full exemption of taxes
No Accounting/Audit requirements
One Director/One Shareholder Required
Directors/Shareholders may be of any Nationality
No Exchange Regulations
International Trade (including Belize)
Commercial & Financial Activities
Marketing of Products and Services
International Leasing of vehicles, machinery, vessels
USES OF BAHAMAS IBC
Can do business with Residents & Companies of Belize and anywhere in the world
except Bahamas
Can own or have shares in local corporations in Belize and anywhere in the world
except Bahamas
Can buy Real Estate anywhere and in Belize
Can do business in Belize

Can open US Dollar and Stock Trading Accounts, Fixed Deposits, and Investment Plans
Set up International Credit and Debit Card
Can hold assets and ship ownership
REQUIREMENTS (See Application Form)
Proposed name of IBC, plus two alternatives ending with Ltd., Inc., Corp.,
One Director and one shareholder necessary (corporate entities or natural persons)
One Person or Corporate Entity can fill both positions
Corporate Entity can either be a Company or a Trust
Registered Shares Only (No Bearer Shares)
Minimum capital US$50,000.00 divided into 50,000 shares with a par value of US $1.00
each
DUE DILIGENCE (for Resident Agent Only)
Notarized Copy of Passport for all Directors, Officers, Shareholders and Beneficiaries
Contact Information of all Directors, Officers, Shareholders and Beneficiaries
Completed General Client Information Form
Type of Business to be conducted
RESTRICTIONS
Cannot carry on business with persons resident in Bahamas
Cannot carry on business as insurance or a reinsurance company, insurance agent,
insurance broker or insurance manager.
Cannot own or hold an interest, whether legal or beneficial, in real property situates in
Bahamas
Cannot do business in Pharmaceutical, Casino (Gambling) or Pornography line of
business
IBC DOCUMENTATION (you will receive)
Certificate of Incorporation
Memorandum and Articles of Association
Resolution of Appointment of First Directors
Registered Share Certificates
Share Register

Register of Directors and Officers

Corporate Rubber Seal (to remain with the Resident Agent)
FORMATION & MAINTENANCE FEES (See Application Form)
Processing of Bahamas IBC
(Includes Incorporation & Registration Fees, Registered Office/Agent Fee up to end of
the year & Corporate Rubber Seal)
US $ 1,450.00
Courier Fees for Corporate Documents
($75.00 courier to the U.S., Central America & The Caribbean and $100.00 for Europe)
US $ 75.00 - 100.00
Annual Maintenance due at 1st Quarter of the following year
(Included Registered Office/Agent Fee and Registration Fees)
US $ 725.00
SHELF COMPANIES

Shelf Companies are available. Please request list with names and prices.
HIGHTLIGHTS OF BAHAMAS

Bahamas is located 40-60 miles east of Florida, USA

It is comprised of 700 islands totaling 5,358 sq miles
The countrys population is 340,000 and most Bahamians live in the two major urban
centers: Nassau, which is the Capital and Freeport.
The Official Language is English and the climate is Tropical.
Bahamian culture is a hybrid of African and European influences.
The Legal Tender is the Bahamian Dollar which is on a par with the US Dollar
Their major industries are Tourism, Financial Services and Small Industries.
BRITISH ANGUILLA (B.A.)
INTERNATIONAL BUSINESS COMPANY (IBC)
ADVANTAGES OF THE IBC

Complete Privacy and Confidentiality

Full exemption of taxes
No Accounting/Audit requirements
Directors/Shareholders may be of any Nationality
No Exchange Regulations
International Trade (including Belize)
Commercial & Financial Activities
Marketing of Products and Services
International Leasing of vehicles, machinery, vessels
Delivery within 5-7 business days by courier
USES OF BRITISH ANGUILLA IBCs
Can do business with Residents & Companies of Belize and anywhere in the world
except Anguilla
Can own or have shares in local corporations in Belize and anywhere in the world
except Anguilla
Can buy Real Estate anywhere and in Belize
Can do business in Belize
Can open US Dollar and Stock Trading Accounts, Fixed Deposits, and Investment Plans
Set up International Credit and Debit Card
Can hold assets and ship ownership
REQUIREMENTS (See Application Form)
Proposed name of IBC, plus two alternatives ending with Ltd., Inc., Corp.
Only one Director and Shareholder necessary (corporate entities or natural persons)
Bearer Shares allowed, but original is to be kept with Registered Agent
Minimum capital US$50,000.00 divided into 50,000 shares with a par value of US $1.00
each
DUE DILIGENCE (for Resident Agent Only)
Notarized Copy of Passport for all Directors, Officers, Shareholders and Beneficiaries

Contact Information of all Directors, Officers, Shareholders and Beneficiaries

RESTRICTIONS
Cannot carry on business with persons resident in British Anguilla.
Cannot carry on banking or trust business with the meaning of the Trust Companies and
Offshore Banking Act, 2000.
Cannot carry on business as insurance or a reinsurance company, insurance agent,
insurance broker or insurance manager.
Cannot own or hold an interest, whether legal or beneficial, in real property situates in
British Anguilla
IBC DOCUMENTATION (you will receive)
Certificate of Incorporation
Articles of Incorporation & By-Laws
Resolution of Directors
Registered Share Certificates or Copy of Bearer Shares (Original Bearer Share is kept
by the Resident Agent)
Share Register
Register of Directors and Officers
Embossed Pocket Seal (to remain with the Resident Agent)
FORMATION & MAINTENANCE FEES (See Application Form)

Processing of British Anguilla, IBCs

(Includes Incorporation & Registration Fees, Registered Office/Agent Fee up to end of

the year & Mandatory Embossed Corporate Seal)
US $ 1,000.00

Courier Fees for Corporate Documents

($75.00 courier to the U.S., Central America & The Caribbean and $100.00 for Europe)
US $ 75.00 - 100.00

Annual Maintenance due at 1st Quarter of the following year

(Included Registered Office/Agent Fee and Registration Fees)

OPTIONAL SERVICES

* Annual Nominee Director/OfficerUS $ 600.00

US $ 650.00

Annual Corporate Secretary

Minutes annually

US $ 250.00

US $ 100.00

Share Certificates annuallyUS $ 100.00

Certificate of Good Standing

US $ 250.00

Continuation from Foreign Jurisdiction

US $ 1,500.00

Restoration Fee (within 6 months of it being struck off)US $ 500.00

Restoration Fee (after 6 months of it being struck off) US $ 800.00
Apostile of Document or Set of Documents from British Anguilla

US $ 250.00

Bookkeeping/Accounting and Management Services (Request Requirements)

*Note: These services are only available at the anniversary date of the company. That
is, after we have been doing business with you for at least one year. We prefer to get to
know our clients. We want to meet with you, introduce you to the banks if required and
review your activity.