Corporate Chequing Accounts

What are the requirements to open a corporate account?

 

The documents that you will be required to provide to apply for a business account are:
NEWLY INCORPORATED ENTITIES
a. Certificate of Incorporation
b. Detailed extract
c. Articles of Incorporation or By-laws
d. Proof of Address for the business.
e. Beneficial owners’ (all) / Signatores (all) / Directors’ (at least 2) – social security card or passport along with a recent utility bill (not older than 3 months) under their names or valid driver’s license.
f. Central Bank of Belize approval must be obtained prior to the opening of an account. A copy must be provided to us.

Kindly note that there is a minimum initial deposit of $200 required after the account has been approved/opened.

RE-REGISTERED INCORPORATED ENTITIES
a. Certificate of Registration
b. Detailed extract
c. Existing Memorandum & Articles of Association or By-laws
d. Certificate of Incumbency (if it’s a business operating for over a year)
e. Proof of Address for the business.
f. Beneficial owners’ (all) / Signatores (all) / Directors’ (at least 2) – social security card or passport along with a recent utility bill (not older than 3 months) under their names or valid driver’s license.
g. Central Bank of Belize approval must be obtained prior to the opening of an account. A copy must be provided to us.

Kindly note that there is a minimum initial deposit of $200 required after the account has been approved/opened.

NEW OR RE-REGISTERED BUSINESS NAME (UNINCORPORATED)
a. Certificate of Registration
b. Short Extract or Certificate of Incumbency
c. Proof of Address for the business.
d. Beneficial owners’ (all) / Signatores (all) – social security card or passport along with a recent utility bill (not older than 3 months) under their names or valid driver’s license.
e. Central Bank of Belize approval must be obtained prior to the opening of an account. A copy must be provided to us.

Kindly note that there is a minimum initial deposit of $200 required after the account has been approved/opened.

As a non-resident, can I open a business account? The documents that you will be required to provide to apply for a business account are:
NEWLY INCORPORATED ENTITIES
a. Certificate of Incorporation
b. Detailed extract
c. Articles of Incorporation or By-laws
d. Proof of Address for the business.
e. Beneficial owners’ (all) / Signatores (all) / Directors’ (at least 2) – social security card or passport along with a recent utility bill (not older than 3 months) under their names or valid driver’s license.

Kindly note that there is a minimum initial deposit of $200 required after the account has been approved/opened.

RE-REGISTERED INCORPORATED ENTITIES
a. Certificate of Registration
b. Detailed extract
c. Existing Memorandum & Articles of Association or By-laws
d. Certificate of Incumbency (if it’s a business operating for over a year)
e. Proof of Address for the business.
f. Beneficial owners’ (all) / Signatores (all) / Directors’ (at least 2) – social security card or passport along with a recent utility bill (not older than 3 months) under their names or valid driver’s license for proof of address.

Kindly note that there is a minimum initial deposit of $200 required after the account has been approved/opened.

NEW OR RE-REGISTERED BUSINESS NAME (UNINCORPORATED)
a. Certificate of Registration
b. Short Extract or Certificate of Incumbency
c. Proof of Address for the business.
d. Beneficial owners’ (all) / Signatores (all) – social security card or passport along with a recent utility bill (not older than 3 months) under their names or valid driver’s license for proof of address.

Kindly note that there is a minimum initial deposit of $200 required after the account has been approved/opened.

Will I be required to visit a branch to open an account? For small and medium enterprises, you will be required to visit one of our customer service representatives or SME officers in person. Larger enterprises will need to schedule a meeting with one of our Sales & Business Development Officers
How long does it take for an account to opened? Approval to open a business account may take between 1 to 5 business days although most of our accounts are approved within the same hour. After we review the details of your request, we may need a few more documents from you before approval is granted.

TERM DEPOSITS

What are the requirements to open a Term Deposit?

CORPORATE CUSTOMERS

If you’re already a Belize Bank Corporate Customer and your account is updated, you will only be required to bring the following documents along with you:

a. A resolution letter stating the term deposit amount, term, authorized signatories and signing conditions.
b. Valid social security of passport for all authorized signatories.
c. For authorized signatories, please bring along a recent utility bill or driver’s licence showing their permanent address.
d. Minimum deposit is BZ$10,000.00 for term deposits up to 1 year or $200,000 for term deposits exceeding 1 year.

NON CUSTOMERS

You’re welcomed to join us. To open a term deposit, you will be required to open an account (refer to the account opening details). Thereafter, you will need to submit the following:
a. Resolution letter stating the term deposit amount, term, authorized signatories and signing conditions.
b. Valid social security or passport for all authorized signatories along with a recent utility bill in their names or driver’s licence showing their permanent address.
c. Minimum deposit is BZ$10,000.00 for term deposits up to 1 year or $200,000 for term deposits exceeding 1 year.

What is the interest rate paid on Term Deposits?

The interest you will earn on term deposits is dependent on the term you wish to select. Below are the current interest rates which are ubject to change:

6 months: 0.35%
1 year: 1.05%
2 years: 1.50%
3 years: 1.75%
4 years: 2.00%
5 years: 2.25%

When my Term Deposit Matures, what Interest Payment Options are available? You may be able to select whether interest is paid semi-annually, annually, or at the end of the term when the term matures.
Is there an Early Redemption Rate or Penalty in the event I choose to close my Term Deposit before Maturity? You can lose all or part of the interest you would have otherwise accrued on the amount if you make a full or partial withdrawal.
What are the feature and benefits of a Term Deposit? With a Term Deposit, you can enjoy the following benefits/features that we offer:;
a) High, flexible interest rates
b) Risk free way to make money
c) Guaranteed returns
d) Interest is paid upon maturity of deposit
e) Automatic deposit renewals available
f) Method of interest payment is determined by you (i.e. deposit to savings/chequing account, interest rollover, etc.)
g) Certificate of Records defining terms and conditions agreed upon
h) If for any reason you miss your maturity date, we will automatically compound your interest and renew the deposit under the same terms and conditions as the original agreement