III. Foreign Exchange Regulations

Under the Exchange Control Regulations, Chapter 43 of the Laws of Belize (1980) only the Central Bank, authorized dealers and authorized depositaries may deal in foreign currencies. In order to pay for goods and services procured outside of Belize in a foreign currency, a foreign exchange permit must be obtained from an authorized dealer or the Central Bank. The permission of the Central Bank is also required in order to secure a loan from outside Belize which involves a foreign currency, and also to service repayment of foreign debt. The necessary approvals, however, can be easily secured in the case of genuine, approved enterprises. Foreign investors are required to register any investments made in Belize with the Central Bank to facilitate the repatriation of profits, dividends, etc. No person, other than authorized dealers and authorized depositaries, may retain any foreign currency in their possession without the consent of the Central Bank. Foreign exchange accounts can be opened at local banks with the consent of the Central Bank.

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