Current Transactions

Belize has a fixed exchange rate because a stable currency is considered necessary for sustainable growth and development.  The Exchange Control Regulations are essential for protecting the fixed exchange rate regime. Compliance with the Exchange Control regulations ensures that foreign currency inflows are pooled and made available to meet the needs of the general public. Each resident contributes to safeguarding the fixed exchange rate through the obedience of the law.

The Exchange Control Approvals Unit of the Research Department facilitates the approvals of current transactions dealing with Foreign Exchange XCH1 Permits. Below is the XCH1 Permit for current transactions and guideline procedures.

XCH1 Foreign Exchange Permits

When the general public is requesting a XCH1 foreign exchange permit, the following instructions must be applied:

1. Complete the XCH-1 Application for Foreign Exchange Permit Form. In order to fill out this form, kindly follow the instructions indicated on the Foreign Exchange Guide.

2. Email the completed XCH-1 Application for Foreign Exchange Form, support documentation(s), and name of domestic bank or remittance service provider executing application via email to: [email protected].

Email Guidelines:

Kindly ensure that all applications should have a proper subject title and all supporting documents must be properly labelled upon submission.

SUBJECT TITLE: “NAME OF THE COMPANY”, “APPLICANT NAME” and “RECIPIENT NAME”.

SUPPORTING DOCUMENTS: “NAME OF THE COMPANY” and “THE NAME OF THE TYPE OF SUPPORTING DOCUMENT”.

Also, if you are requesting more than one (1) Foreign Exchange XCH1 Permit, there should be separate emails with supporting documents to validate each transaction.

Applications that are sent as images or any other format other than PDF, will not receive a response until resubmitted via PDF

3. Forms received will be processed by the end of the next business day.  Kindly note, the electronic approved XCH-1 Application for Foreign Exchange Form will be emailed to the Applicant.