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Corporate Bank Account in Belize:

Set Up Fees
About Belize Banks
Interest Rates
Online Banking
Credit Cards
Debit Cards
Time Deposits
Savings Accounts
Documentation Requirements
Nominee Signatory Services
Set Up Procedures

Set Up Fees:

For setting up Corporate Bank Accounts with our primary correspondent banks in Belize, we charge a set up fee of US$700.

For setting up Corporate Bank Accounts with other banks in Belize, we charge a set up fee of US$1000. If you know of a particular bank that you would like to set up an account at, you simply notify us and we can assist you in setting it up.

* Time frames for setting up accounts with banks other than our primary correspondent bank may take longer due to additional documentation that may be required.


About Belize Banks:

Belize successfully meets all the requirements of the discerning investor: familiar English Common Law and court system, modern and up to date offshore legislation, economic, social and political stability, former British dependent territory, confidentiality practices, a good reputation, and an unparalleled quality of life in one of the few remaining pristine environments on earth.

Belize lies on the Eastern or Caribbean coast of Central America, bordered on the North by Mexico, on the West and South by Guatemala and on the East by the Caribbean Sea. It is separated by sea from it's neighbor to the South-West, Honduras. Belize is in the Central Standard Time zone, and does not utilize daylight saving time. Belize's circulating currency is the Belize Dollar. One U.S. dollar is worth BZ$2. Banks in Belize deal in both US Dollars and Belize Dollars.

Belize is an independent parliamentary democracy and is a Member of the British Commonwealth of Nations since 1981. Queen Elizabeth II of England is Head of State. Belize has a Constitution, which includes a Bill of Rights.

Belize City, Belize is home to a small, yet growing banking center of under 10 banks. The banks in Belize are English speaking, and use the most up to date technology for internet banking and credit cards. Belize also has very good bank secrecy laws that protect depositors financial privacy.

We have relationships with several international banks in Belize through which we open corporate accounts for our clients. However, we mainly open corporate accounts for our clients through our primary correspondent bank, with whom we have an excellent working relationship. Our correspondent bank is a stable, reputable bank with over US$300 million in current deposits.

All of our clients are handled by the Private Banking Department of our primary correspondent bank. A bilingual, English and Spanish speaking Private Banking Official is assigned to each account, and our client is provided with that persons contact information for direct communication for executing banking transactions. In general, our clients never need to speak with anyone at the bank, because all transactions can be handled online through their internet banking system.


Interest Rates:

Our correspondent bank in Belize offers interest rates that are competitive with those of the US or Canada*. Our primary correspondent bank offers up to 3% annual interest on USD savings accounts, and up to 5% annual interest on USD time deposits (Certificates of Deposit).

*Quoted rates on checking and savings accounts may vary depending on the LIBOR (London InterBank Offering Rate) and may be subject to minimum deposits and/or minimum balance requirements and/or certain terms for CD's.


Online Banking:

Internet access to your corporate bank account is offered through our primary correspondent bank, as well as through most of the other banks in Belize. Belize banks use the most up to date online security technology so your banking information is 100% secure and confidential. Through our primary correspondent bank, you can execute all of your banking functions online, including balance inquiries, wire transfers, payments to your secured credit card, etc.


Credit Cards:

Our primary correspondent bank offers secured credit cards (Visa or MasterCard). Our firm charges a processing fee of US$100 for assisting in setting up of secured credit cards.

Secured credit cards require that the client place a security deposit in an amount equal to 150% of the credit limit chosen for their credit card. The security deposit is frozen in the corporate bank account (or CD/time deposit) until the card is closed, although the funds still earn interest while in the security deposit. As the credit card is used, the bank will automatically debit the entire monthly balance of the credit card charges from the remaining corporate bank account balance at the end of the monthly credit card billing cycle.

Annual fees for corporate credit cards are US$150.


Debit Cards:

Debit cards are not offered for corporate bank accounts through our primary correspondent bank in Belize. However, "Visa Travel Money Cards" are available with a minimum of US$5000.


Time Deposits

Most banks in Belize offer time deposits (certificates of deposits, or "CD's"). Each banks rates vary according to their banking regulations, business practices, etc. Our correspondent bank offers up to 5% annual interest on USD time deposits (Certificates of Deposit).

*Please note that for deposit amounts over US$500,000.00, we are able to negotiate special deposit rates, depending on the amount and term. We generally charge a small commission (percentage fee) for negotiating interest rates for our clients.


Savings Accounts:

Through our primary correspondent bank, only savings Accounts are available:

Savings: A savings account is useful for those who plan to maintain at least US$1000 or more in their savings account at all times.

  • Minimum Initial Deposit: US$1000.00
  • Interest Rate: 2% annual interest rate (interest paid monthly)
  • If balance is below US$1000, no interest is paid
  • Minimum Balance Requirement: US$1000.00
  • Monthly fee if balance falls below US$1000.00: US$25.00
  • Returned Check Fee: US$35.00
  • Account statements may be sent by email or post mail
  • Wire Transfer Fee: US$60 to US, US$70 outside US
  • Certified International Check Fee: US$10.00

* Fees are subject to change without prior notice. We do not guarantee the accuracy of the above published fees.

** Acceptable deposits are USD cash, USD Checks (personal or bank certified checks), or wire transfers. Unacceptable deposits are money orders, travelers checks, double endorsed checks, foreign items/thrift withdrawal orders, returned checks, and checks referring to more than one account number.


For set up of Corporate Bank Accounts in Belize, we require that the client provide us with the following documentation:

A. Photocopy of passport for each signatory. The photocopy of passport should be notarized and should show the photo of the person, personal details, the signature, and should be clear and legible. If a passport is not available, a notarized photocopy of a valid government issued drivers license may be substituted.

B. One (1) Financial Reference Letter. The financial reference letter can be from any bank, brokerage firm, credit union, insurance company, trust company, or finance company. The letter should be on the financial institutions letterhead, and should include the signature of an official, and the contact information (address, telephone, fax, email, etc.). There is no specific format that the reference letter must be written in.

Example of Financial Reference Letter

Note: If a financial reference letter is not available, a reference letter from your attorney or accountant may be substituted.

C. Company Profile Letter. The company profile should explain the general business activities of the company including: type of business activity, regions/jurisdictions of business activity, main business partners names, general purpose of the bank account, expected average balance, expected average monthly turnover (in USD), general banking services required or expected for the near future, and any specific requests.

Example of Company Profile Letter

D. Signed Account Applications. If you wish to be the signatory on the account, then you must sign the bank account applications. As account signatory, you will have the power to execute all types of banking functions with your corporate account.

* Documentation requirements are subject to change without notice.
** Banks other than our primary correspondent bank may require other documentation.


Nominee Signatory Services:

For those clients that prefer to remain 100% anonymous without revealing their personal names to the bank, we offer nominee signatory services for additional confidentiality. In this case, we will provide one of the nominee directors as signatory for your corporate account. When you need to execute a transaction through your corporate account, you simply contact us with your request, and we will process it for you. We charge a US$1000 (or 1%, which ever is higher) annual administration fee for nominee signatory services.

Set Up Procedures:

Below we have included bank account set up procedures for our primary correspondent bank (Please note that set up procedures may be different if dealing with other banks):

A. Submit an Online Application - Click on "Order Now", and complete an online application, then hit "submit".

B. Submit Payment - Payment can be made by Bank Wire Transfer, Western Union Money Transfer, E-Gold, USD Check, or USD International Money Order.

C. Receive Documents - Once we receive payment, we will forward you the account applications for your signature. You should sign the account applications where indicated, and forward them back to us along with the required documentation.

D. Account is Set Up - When we receive the signed applications and required documentation, the account applications will be completed and forwarded to the bank. The account number will generally be provided within 7 to 10 business days from the date the documents are submitted to the bank.

E. Begin Using Account - Once we receive the account number, we will send you the complete account protocol for making deposits, executing wire transfers, contact information of the bank, etc.


Tel (Panama): ++ (507) 227-6645
Fax (Panama): ++(507) 227 7485
Toll Free Voicemail / Fax (USA): 1-800-716-3452

Note: If calling to Panama from the US or Canada, you must dial "011" prior to the country code (507).

Encrypted Email:

P-WOS, Inc.
PTY 296, PO Box 0832 - 2745, WTC
Panama City, Republic of Panama


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DISCLAIMER: Panama Wholesale Offshore Services, Inc. is not a bank, nor does it provide banking services. Panama Wholesale Offshore Services, Inc. offers international company formation, corporate administration services, and bank/broker introductory services and account opening assistance. This website is only used for promotional marketing purposes of Panama Wholesale Offshore Services, Inc. and is not intended to portray that this is the site of a bank.