By Belize Live News Staff: The Central Bank of Belize has taken a major step toward improving access to foreign currency for service-based transactions, reducing red tape for Belizean businesses and professionals.
Under a new framework, domestic banks can now approve foreign exchange requests—up to BZ$100,000—for a range of services including legal, engineering, architectural, accounting, embassy, and financial services. The change removes the previous requirement to obtain direct authorization from the Central Bank for each transaction.
This shift, effective May 2, 2025, is formalized under Exchange Control Direction Number 20 and aims to promote greater flexibility for small and mid-sized businesses operating in the global service economy.
To qualify, customers must submit a valid contract or invoice to their bank. Transactions beyond the listed services or exceeding the threshold will still need prior approval from the Central Bank.
“This is a win for service providers in Belize who work with overseas clients or vendors,” a financial consultant told BLN. “It means faster payments, less bureaucracy, and more competitive operations.”
The Central Bank emphasized that this policy update is part of its broader mission to modernize and streamline Belize’s exchange control system.
