Personal accounts: Belize

Updated 5 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A personal account in Belize is opened by retirees under the Qualified Retired Persons programme, property owners on Ambergris Caye and in Cayo, and those who want to keep part of their savings in dollars in an English-speaking common law jurisdiction. The Belize dollar is pegged to the US dollar at 2 to 1, and banks are either domestic or international banks serving non-residents.

Domestic or international bank

An account for the Qualified Retired Persons programme

Under the retiree programme a foreigner aged 45 or over obtains resident status with proven monthly pension or annuity income of at least $2,000, transferred every month to an account in Belize. So for programme participants a local account is a required part of the plan, and we open it together with the application.

The programme is run by the Belize Tourism Board. Participants can import personal effects and a vehicle duty-free and pay no Belize tax on foreign income, but cannot take paid employment in the country and must spend at least 30 consecutive days a year in Belize. Income is proven by a statement or pension fund letter, and monthly inflows to the Belize account are checked at renewal.

An account for buying a home

When buying property in Belize, money is usually wired in dollars to an attorney's trust account or to your own account at a domestic bank, then used to pay for the deal and stamp duty. The bank checks the source of funds, so statements and documents on asset sales or income are best prepared before the transfer. A local account is also needed to pay land tax and utilities and to receive rent.

Documents needed

• Passport and a second photo ID.
• Proof of address in Belize or the country of residence, no older than three months.
• A reference letter from your bank, sometimes also a professional reference.
• Evidence of income and source of funds: pension, asset sale, business.
• A form with tax residence: Belize banks report foreigners' accounts to their country of residence.

Timeline and costs

International banks usually set a minimum balance and a monthly account fee; domestic banks charge small fees. We compare the terms for your amounts before applying.

Is there banking secrecy

Belize banks must keep client information confidential, but disclose it on request from the authorities and take part in automatic exchange of tax information. So a Belize account is a lawful way to hold money in dollars, not a way to hide it from your home tax authority.

Why banks refuse

• No clear purpose for the account or link to Belize.
• The source of funds is not documented.
• Third-party transfers or frequent small inflows are expected.
• Citizenship or payment countries on a higher-risk list.

How we help

We choose a bank - domestic or international - for your goal and amount, prepare documents and references, and follow the review. For retirees we tie the account to the resident status application, for property buyers to the deal.

What we do

• Personal account - opening assistance

See also

Company formation · Business account · Investment property

FAQ