The Exchange Control Regulations Act, 2003, authorizes the Central Bank of Belize to approve dealings in gold and foreign currency. The Act also addresses the treatment of financial transactions between residents and non-residents, involving exports and imports and various capital transactions.
Large deficits on the current account of the balance of payments and foreign debt servicing obligations requires continued vigilance for capital transactions, such as the purchase and sale of land, company shares, financial assets, and other investments. As such, Central Bank approval and confirmation of notice are required for all capital account transactions that involve residents and non-residents.
One of the Central Bank’s primary objectives is to protect Belize’s pegged foreign exchange rate. A stable currency is considered necessary for sustainable growth and development. A well-regulated foreign exchange control is essential for protecting the fixed exchange rate regime. The Central Bank facilitates the approvals of current transactions dealing with foreign exchange XCH1 Permits.
Find out about the requirements and procedures to apply for foreign exchange permits and approvals for capital transactions.