Central Bank of Belize eases access to foreign currency for key service sectors

Published by [email protected] at May 18, 2025

Posted: Sunday, May 18, 2025. 6:01 am CST.

By Breaking Belize News Staff: The Central Bank of Belize has announced a significant change in how Belizeans can access foreign currency. As of May 2, 2025, individuals and businesses can now obtain foreign exchange for specific services directly through authorized domestic banks—without needing prior Central Bank approval.

This decision, outlined in Exchange Control Direction Number 20, allows domestic banks to facilitate foreign currency purchases for 12 service-based categories, including legal, financial, accounting, and IT services, up to a maximum of BZ$100,000 per transaction.

Previously, such transactions required time-consuming approval from the Central Bank. Now, with a valid invoice or contract, customers can approach their local bank for service-related international payments.

“This update reflects our ongoing efforts to make foreign exchange transactions more accessible, while maintaining oversight on high-value and non-service-related transfers,” the Central Bank noted.

For transactions outside the approved service categories or those exceeding BZ$100,000, Central Bank authorization will still be required.

The full framework can be found at www.centralbank.org.bz, and customers are encouraged to consult with their banks for assistance.

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