Belize Payment Service Provider License

Belize is an independent parliamentary constitutional monarchy within the British Commonwealth. The nation has long been known for its financial stability, pegging its local currency directly to the volatility of the United States dollar. In recent years, the government of Belize has made largely successful efforts to transition the focus of the nation’s economy from staple commodities to financial services.

Belize has long been recognized as a tax haven, offering zero taxes on offshore profits. The country’s banking infrastructure is also popular among sophisticated professionals who find the relative privacy of Belize to be largely unrivaled. Moreover, the nation’s international business corporation regime and court structure makes it one of the most attractive locations for asset protection.

The Belize is an ideal location for promoters of payment services businesses. The Belize offers a Money Transmission license which covers all related payments activity, including peer-to-peer remittances and payment processing. The licensure is recognized world-wide and many top payment service providers are licensed in Belize. In addition, the process of obtaining a license is both cost effective and can be accomplished quickly.

Advantages of a Belize Payment Service Provider License

In recent years, payment service providers based in traditional financial hubs such as the United States and European Union have faced near untenable amounts of regulatory scrutiny. In reaction to this, payment service providers have become increasingly limited in the industries they serve, foregoing not only traditional high-risk markets but also more traditional, conservative businesses. An offshore payment service provider license provides a respected platform for operating a payments-related business free from the encumbrances faced by operators in larger jurisdictions.

Belize Payment Service Provider License at a Glance

License Money Transmission
Time to License 3 to 4 Months
Capital Requirement Varies
Tax Structure Zero (0%) Tax on Offshore Profits
Economic Substance Yes
Local Director Yes
AML/KYC Yes
Audit Audit

Resources

Description QR code Download
Belize – Money Transmission License Application
Belize Payment Service Provider Application Checklist
Belize Money Transmitter License – Regulatory Notes

Belize Money Transmission License Package

  • Formation of Belize offshore corporation
  • Preparation and drafting of shareholder & officer agreements.
  • Preparation and drafting of narrative business plan (req.)
  • Prepare five year financial projections (req.).
  • Preparation and drafting of current financial statements (req.)
  • Preparation and drafting of personal financial statements for owners (req)
  • Identification and draft letters naming principal representative and auditor in Belize (req.)
  • Preparation and drafting application with Belize regulators (req)
  • Preparation and drafting of customer agreements and disclosures.
  • Respond and draft responses to Regulator application inquiries(req.)
  • Facilitate and consummate bankcard relationship with Visa & Mastercard
  • Preparation and drafting of policy agreements and related documents(req.)
  • Facilitate and consummate IBAN and correspondent bank relationship
  • Preparation and review of bank deposit, loan and related agreements.

Contact the Belize Money Transmitter License Experts

Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the securities licensing experts at FinLaw to begin the process of obtaining your Belize Payment Service Provider License today. Our knowledgeable and skilled professionals are pleased to answer any of your questions.

Belize Payment Service Provider License

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