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Business Accounts FAQs
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Corporate Chequing Accounts
- 01The 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.
- 02The 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.
- 03For 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(https://www.belizebank.com/business-banking/management-team/)
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Term Deposits
- 01CORPORATE 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.
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- 05With 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
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