Central Bank of Belize Eases Access to Foreign Currency for Services

The Central Bank of Belize has announced a new policy aimed at simplifying the process of accessing foreign currency for service-based transactions. As of May 2, 2025, customers can now purchase foreign currency directly from local banks for certain service payments without first needing approval from the Central Bank.

This change is designed to improve efficiency and make it easier for individuals and businesses to carry out international transactions.

The updated policy delegates more authority to domestic banks, allowing them to process foreign currency requests for payments or transfers to non-residents for specified services valued up to BZ$100,000. Among the approved service categories are accounting, architectural, audiovisual, communication, computer, embassy, engineering, financial, information, legal, postal and courier, and scientific and technical services.

To access foreign exchange under the new framework, customers must present a valid invoice or service contract to their bank. Transactions that exceed BZ$100,000 or do not fall within the approved categories will still require prior approval from the Central Bank, in line with Exchange Control Direction Number 20, which was recently gazetted.

This move is part of the Central Bank’s ongoing efforts to modernise and streamline Belize’s exchange control system.