How to Open a Business Bank Account in Belize

Opening a business bank account in Belize is straightforward if you know what to expect. Here’s a practical local guide.

1. Choose Your Bank

Popular banks for expats include:

Belize Bank
Atlantic Bank
Heritage Bank
Scotiabank

Each offers slightly different fees, online banking options, and account services.

2. Required Documents

Most banks will require:

Passport (with visa/residency)
Business registration certificate
Tax ID or social security registration
Proof of address (lease, utility bill)
Board resolution if the business has multiple owners

3. Minimum Deposit

Expect $500–$1,000 USD as a minimum deposit for new business accounts.

4. Banking Tips for Expats

Keep records clean and transparent
Use Belize dollars and USD interchangeably
Consider online banking and wire transfer options
Maintain good relations with bank officers—they’re essential for smooth operations

5. Common Pitfalls

Using personal accounts for business transactions
Delays in paperwork due to missing documents
Ignoring local taxes and reporting requirements

Conclusion

With the right documentation and preparation, opening a business bank account in Belize is simple. Proper banking is essential for investment success, legal compliance, and smooth daily operations.

Kiskadees