Opening a bank account in Belize used to be an easy way to step into the offshore banking world, open an offshore bank account, and access the benefits of international banking.
This was true whether you were from the United States, Canada, Europe, or a backwater jurisdiction with a low-quality passport… it didn’t matter.
Belize was the ‘quick and dirty’ banking option for solopreneurs, digital nomads, non-residents, business owners, and permanent travelers from around the world.
But, times have changed. Belize banks are now more selective, a symptom of increasing global regulations and challenges in maintaining correspondent banking relationships.
Use the information below to learn more about banking in Belize or select the type of account you’re interested in to get started.
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Belize Bank Account Opening
In this free country guide, we’re going to share everything you need to know before you open a Belize account and start banking in Belize. This will include personal banking and business banking for foreigners, non-residents, and international entities.
In fact, depending on your client profile and desired deposit level, you can even open an offshore bank account 100% remotely.
Feel free to use the table of contents to find the most relevant information for your Belize banking needs.
Table of Contents
How to Open a Bank Account in Belize
Before taking a look at the step-by-step process to open a bank account in Belize, it’s important to understand the key considerations and clients that Belize banks accept.
With this in mind, here’s a quick snapshot of the most important bank account opening considerations and the prospective clients that can consider opening here.
- Belize Banking Considerations
- Remote Opening: Yes
- Opening Difficulty: Easy
- Currency: BZD (Belize Dollar)
- Minimum Deposit: 1,000 to 5,000 USD
- English Support: Yes
- Deposit Insurance: 20,000
- Active Banks: 17
- Who Do Belize Banks Accept?
- Non-residents: Yes
- Foreign businesses: Yes
- Offshore entities: Yes
- Wealth management entities: Yes
Can a Foreigner Open a Bank Account in Belize?
Not all banks in Belize accept all client types. In fact, very few banks in Belize accept foreign non-resident clients. However, the ones that do accept foreign non-residents can typically facilitate remote opening for a wide range of nationalities and residencies.
That said, individuals and businesses that may have considered Belize in the past are now gravitating towards more established jurisdictions with stronger reputations, greater stability, and a wider range of banking services. With this in mind, Belize is typically interesting for clients who are struggling to open elsewhere, establish residency in Belize, or have local operations in the country.
However, it’s important to note that very few banks in Belize will accept foreign or offshore companies and structures. But, those that do can often take companies from a wide range of jurisdictions. Of course, opening in Belize will be easier for a company when it has a clear economic tie to the country.
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Who Can Open Offshore Bank Accounts in Belize?
There are a number of factors that go into determining who can open an offshore bank account in Belize. These factors range from involved countries, transaction activity, source of income and wealth, risk profile, and much more.
We discuss all of these factors and more in GlobalBanks IQ for our premium members.
In short, GlobalBanks IQ helps members navigate their unique client profile, understand their risk factors, and determine how to clearly and accurately communicate with banks.
In doing so, our members avoid accidentally red-flagging themselves by saying things that could be misconstrued or misinterpreted by bankers and compliance teams.
So, if you’re interested in learning more about GlobalBanks IQ and how you can start opening bank accounts in Belize today when you join, click here or use the link below to see everything you unlock with immediate access.
Personal Bank Accounts in Belize
Personal bank accounts in Belize can be opened by foreign non-residents, foreign temporary residents, foreign permanent residents, and of course nationals of Belize living in Belize and abroad.
In other words, regardless of your residency status, it is possible to open a personal bank account in Belize if you choose the right bank and navigate the account opening process properly.
Banking in Belize can be a good choice for anyone seeking offshore banking with exposure to foreign currencies including USD, CAD, EUR, GBP, and CHF. That said, the official currency of Belize is the Belize Dollar (BZD), though USD is widely accepted (paper money not coinage).
That said, restrictions do apply to certain nationalities, residencies, and certain risk profiles. So, understanding your client profile and how banks perceive you is important before approaching bankers and applying for accounts.
You can access our free guide on consumer banking and how to open a personal bank account in Belize by clicking here, which gives you the step-by-step process to start opening accounts and how to choose a bank that is right for you.
Business Bank Accounts in Belize
Business bank accounts in Belize are available to a surprising number of foreign and offshore jurisdictions. In most cases, this includes remote account opening.
However, finding a bank that is willing to accept your foreign or offshore company is not easy as only a small number in the country are willing to do so. In fact, one of the biggest challenges you’ll face is finding a banker that will even pick up the phone, respond to email, or give you clear information on account opening requirements, fees, and restrictions. That said, account opening is also challenging if you have a high-risk business or high-risk jurisdictions are involved.
Of course, restrictions apply to certain countries of registration, operation, and business activities. So, knowing which banks are willing to accept your company is important before you start to apply.
You can access our free guide on the benefits of corporate checking accounts and how to open a business bank account in Belize by clicking here, which includes important considerations for both foreign and offshore entities.
What are the Risks of Banking in Belize?
Yes, there are risks when banking in Belize. That said, this is true in any country that you might be considering opening accounts in. Of course, there are Belize-specific risks that all prospective account openers should consider before opening accounts. These risks may impact how you transfer money internationally or how you send money to Belize, and they can impact the specific banks that you decide to open with.
Is Opening Accounts With Banks in Belize Safe?
Our team has covered the most common country-related risks and banking risks you’ll face when opening bank accounts in Belize, which can be accessed here right now.
Belize Banking Resources
To help you successfully open Belize bank accounts, our team of international banking experts has created detailed bank profiles, actionable banking insights, and account-opening strategies for the Belize banks that open accounts for foreign non-resident individuals and businesses.
Here is a look at all of the banking resources that you can access right now to help you navigate your Belize banking options:
- Available Belize Banking Resources
- Detailed Bank Profiles of Top Belize Banks for Non-Resident Individuals
- Detailed Bank Profiles of Top Belize Banks for Foreign Businesses
- Detailed Bank Profiles of Top Belize Banks for Offshore Entities
- Plus: Hundreds of Banks & Account Opening Options in Other Jurisdictions
These resources are delivered exclusively to our premium members through GlobalBanks IQ, which you can unlock immediately.
MEMBER ACCESS
GlobalBanks IQ provides immediate access to everything you need to open Belize bank accounts for you or your business!
- Choose banks in minutes with our international banking database
- Open accounts with detailed step-by-step instructions
- Handle banker questions easily with detailed conversation scripts
- Meet bank requirements (e.g. local address) with proven solutions
- Unlock exclusive offers from the best banks in our member reports
- Receive lists of banks that accept high-risk & offshore businesses
- Plus much more!
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Frequently Asked Belize Banking Questions
Below are three of the most common questions we receive from people looking to open a bank account in Belize. If you have additional questions that you’d like to ask our team, don’t hesitate to get in touch.
Which Bank Is Best for Foreigners in Belize?
Which bank is best for foreigners looking to open accounts in Belize often depends on their banking objectives, desired currencies, deposit amount, and risk tolerance. In fact, in many instances, the best bank for foreigners looking to bank in Belize, may be in another country. In fact, for most people, there are more attractive banking options available elsewhere.
Which Bank Allows Foreigners to Open a Bank Account?
Most banks allow foreigners to open a bank account when they meet certain criteria. That said, the requirements to open a bank account will differ from country to country and bank to bank. With this in mind, prospective foreign customers should first consider their desired deposits, banking services, and risk tolerance before considering countries or banks for account opening.
Which Bank Is Best in Belize?
There is no single “best bank” in Belize. Instead, there are a small number of banks that may (or may not) be suitable for each individual’s client profile. In fact, most foreign non-residents or business owners looking to open in Belize will be limited to a small number of account opening options. Our team shares these Belize banking options with our premium members, including important account opening considerations in the GlobalBanks IQ Database.
Free Belize Banking Resources
Below you’ll find our archive of free Belize banking resources to assist with account opening.
This includes detailed articles to help you open bank accounts explaining how to navigate challenges for specific client types and more.
Belize Bank Account Opening Requirements
Belize Banking and Financial Services: Ultimate Guide
How to Open an Offshore Bank Account in Belize
Costs of Banking in Belize: Opening & Operating Accounts
What Are the Benefits of Banking in Belize?
What to Know Before Opening a Bank Account in Belize?
Currency of Belize [Banking in Belize]
Risks of Banking in Belize [Banking in Belize]
List of Banks in Belize [Banking in Belize]
How to Send Money to Belize [Belize Bank Accounts]
How to Open a Business Bank Account in Belize
How to Open a Personal Bank Account in Belize
Largest Banks in Belize [Banking in Belize]
Opening a Bank Account in Belize 🇧🇿 [Country Guide]
Belize Company Formation With a Bank Account
