The Central Bank of Belize has expanded the delegation of authority to authorised dealers, allowing customers to purchase foreign currency directly from domestic banks for specified service-based transactions without obtaining prior exchange control approval from the Central Bank for payments or transfers to non-residents up to BZ$100,000. The delegation covers 12 service categories: accounting, architectural, audiovisual, communication, computer, embassy, engineering, financial, information, legal, postal and courier, and scientific and other technical services. Customers must submit a valid service contract or invoice to their domestic bank, while transactions above BZ$100,000 or outside the listed categories continue to require prior Central Bank approval under Exchange Control Direction Number 20, which took effect on 2 May 2025.
Central Bank of Belize 2025-05-09
Central Bank of Belize expands banks’ delegated authority to sell foreign currency for services up to BZ$100,000
The Central Bank of Belize now allows customers to buy foreign currency directly from domestic banks for specified service-based transactions up to BZ$100,000 without prior approval. This applies to 12 categories, including accounting, engineering, and legal services. Transactions over BZ$100,000 or outside these categories still need Central Bank approval.