Legal basis for establishing an offshore bank in Belize is the "International Banking Act, Chapter 267 (Revised Edition 2003)", which by anyone such a bank, which is referred to in the Act as "international bank", based on appropriate licensing by the Central Bank of Belize can be established. For a few years ago are already some offshore banks operating in Belize, offering their services any international buyers from the English speaking countries.
The offshore banking legislation in Belize is very modern, as evaluated in this case by the Belizean government, the international offshore law and from this a contemporary national law was created.
On the basis of the "International Banking Act" may be established as offshore banks so-called Class "A" banks and so-called Class "B" banks.
, A Class "A" bank is essentially an ordinary bank, acting banker's business on an international level.
A Class "B" to Belize Bank is a banking law, which may indeed normal banking transactions, but no lead deposits to the general public as well as cash or bank drafts must exhibit. In that regard, the legislature an activity to a Class "B" bank from exclusively at international level. Moreover, the scope of activity of a Class "B" bank in the banking license by the Central Bank of Belize concrete, but also be limited.
Offshore banks in Belize pay no taxes, no restrictions on dividends or profits or revenues. Offshore banks in Belize are subject to no control or regulation with respect to monetary and foreign exchange transactions.
To be granted a banking license is valid indefinitely and may be revoked by the Central Bank of Belize on the sole ground that the bank violated the relevant restrictions or conditions imposed in the license issued to the Bank Act or as such.
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