The Central Bank of Belize issued guidance supporting the Government of Belize’s Free Movement Regime for nationals of Barbados, Dominica, and Saint Vincent and the Grenadines, confirming that CARICOM nationals granted “indefinite stay” status will receive the same banking access and services as resident Belizeans. Eligible CARICOM nationals may open local currency accounts without Central Bank approval, and prior written notice is no longer required for the sale of land or property to resident Belizeans or for setting up a locally registered company. The release also states that Belizeans transferring funds for the purpose of migration to Barbados, Dominica, or Saint Vincent and the Grenadines must obtain Central Bank approval. Financial institutions must continue to apply anti-money laundering and countering the financing of terrorism standards to CARICOM nationals, and banks and other financial institutions have been directed to update internal policies and ensure frontline and compliance staff can implement the changes.
Central Bank of Belize 2025-10-03
Central Bank of Belize expands banking access for eligible CARICOM nationals under Free Movement regime
The Central Bank of Belize issued guidance supporting the Government of Belize’s Free Movement Regime, granting CARICOM nationals from Barbados, Dominica, and Saint Vincent and the Grenadines the same banking access as resident Belizeans. Eligible nationals can open local currency accounts without Central Bank approval, and prior notice is no longer needed for property sales or company setups. However, Belizeans transferring funds for migration to these countries require Central Bank approval, and financial institutions must maintain AML/CFT standards and update policies.