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Bank Account in Belize - Save $100

Our company offers introduction services for opening corporate bank accounts in Belize.

Our company also assists with opening personal bank accounts.

This offer is valid until August 27, 2018.

Belize Bank Account Package - $1,590 $1,490

The package includes Belize offshore company, corporate seal, set of corporate documents for the bank and bank introduction services for opening a bank account in Belize. The package gives exceptional level of privacy based on Belize offshore legislation and bank secrecy law.

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About the Bank

This bank is the largest commercial bank in Belize. It offers a full range of banking and financial services to international customers.

The bank started his business in 1982.

As at the end of Q3, 2017, the Bank had over US$238M in total assets. Choice Bank is highly liquid. As of September 30th, 2017, the Bank had over US184M in total deposits. In addition, Choice Bank had US$122.2M in approved liquid assets. This represents a liquidity ratio of 38.48%, well in excess of the legal minimum requirement of 24% was exceeded.

Banking Secrecy and Tax Treaties

Banking secrecy in Belize is strictly enforced by law. Belize authorities have no direct access to bank information. Court order is required to get such access.

Belize has in 12 signed and ratified double tax treaties with United Kingdom, Barbados, Antigua and Barbuda, Saint Kitts and Nevis, Trinidad and Tobago, Saint Lucia, Grenada, Jamaica, Guyana, Saint Vincent and the Grenadines, Dominica, Austria.

Belize also has 12 signed and ratified Tax Information Exchange Agreements (TIEA) with Netherlands, United Kingdom, Australia, Greenland, Finland, Iceland, Denmark, Faroe Islands, Norway, Ireland, France and Mexico.

The TIEAs with Belgium, Sweden, Portugal and Poland are pending ratification.

Required Corporate Documents

All required corporate documents are prepared and submitted to the bank by our Belize agent.

Required Personal Documents

The bank requires the following personal documents from each beneficial owners and authorized signatories:

  • A notarized copy of the valid passport (pages containing photo, signature and personal details)

  • Reference from a bank or professional (lawyer or accountant), who knows the person a minimum of 2 years.

  • Proof of residential address (certified copy of utility bill with individual’s name and residential address).

Personal Visit

Our clients, who use the bank introduction services are not required to visit the bank in person.

Client has to send his personal documents and completed and signed bank forms to our Belize office. The office submits the application to the bank and monitors the account opening process.

Initial Deposit

The minimum amount required for the establishment of a current account is US$5,000. When the account is opened, a client receives an email from our company confirming account details.

The bank requires to pay initial deposit within 30 days of opening a bank account.

Upon receiving the initial deposit the bank makes the account active and ready for business.

Minimum Balance

A minimum balance of US$5,000 is required to be maintained at all time. Monthly fee of US$25.00 is charged if the balance falls below US$5,000.00.

Online Banking

The bank offers advanced online banking including:

  • Access to account balances and account transactions

  • Transfer money between accounts in the same bank

  • Sending of international wire transfer payments.

Clients have access to their accounts 24/7.

Debit and Credit Cards

The bank offer MasterCard credit and prepaid debit cards.

A security of 110% of the card credit limit is required to be deposited into a collateral account before the card is issued. Credit cards may be used at ATMs, POS terminals, and for online purchases.

You may choose to have your card with no name (private), personal name only, company name only, or both personal and company names.

Time Required

The bank usually opens a corporate account in 1 to 2 business days after receiving completed application forms, corporate and personal documents and verification of clients personal documents and business information.

Currencies

The bank opens accounts in US Dollars, Canadian Dollars, Euro, British Pounds, Swiss Francs, Australian Dollars and Japanese Yen.

Credit and prepaid debit cards are issued in US Dollars.

Bank Fees

Bank Account Fees:

  • Maintenance fee payable monthly: US$25. If minimum balance falls below US$5,000, there is additional monthly fee of US$25.

  • International wire transfer fee:

    • Incoming payments: $20.

    • Outgoing payments: US$100.

  • Fee for the issue of a bank draft: US$15.

  • Internet banking: free of charge

  • Opening account: free of charge.

Credit Card Fees:

  • Issue Fee: free of charge

  • Annual Fee: $50 to $125 depends on type of card

  • Additional card for the same account: $25 annually

  • International Service Fee: 1.1% for all transactions outside of Belize

  • Over Limit Fee: $5 each time cardholder goes over the limit

  • Card Replacement fee: $25

  • Outstanding owing balances on the credit card account will be charged interest
    at 1.50% per month, or 18% per annum. No interest will be charged if the amount owing is paid in full every month. Minimum monthly payment is 5% of the credit card debit balance or US$50.00 whichever is greater. There is a cash advance fee per transaction of 1.50% of the withdrawal amount.

Feedback of Our Clients

Our company introduces its clients to the bank and constantly monitors clients experience with the bank's services.

The bank's new client acceptance rate is around 98%. About 2% of applications are declined due to inability of the clients to provide required personal documents or confirm their references.

Our clients, who have accounts with the bank have high level of satisfaction by the banks services. Especially, they admit excellent online banking system, which is very user friendly and reliable. Clients also like that the bank informs about each transaction via email.

Our company highly recommends this bank.

 

A & P Intertrust Corporation is Member of the Better Business Bureau.
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