Belize Digital Asset Services Licence

Why Belize for Crypto Licensing?

Belize is one of the newest regulated digital-asset jurisdictions. A licensing route opened on 30 December 2025, when SI 162/2025 came into force; the statutory freeze that had barred the FSC from issuing any virtual-asset licence lapsed at the end of 2025.^[1][2] What draws operators is a 0% corporate income tax base and a strong international compliance standing, set against a regime that is explicitly transitional and a banking market that is genuinely hard.

A Genuine Early-Mover Position

Since the Financial Services Commission Act 2023, virtual-asset business in or from Belize has required a licence, and the operative instrument has been in force since 30 December 2025.^[1][2] That gives early movers a regulated route, backed by the 0% tax base and clean FATF standing detailed below.^[13]

The Two Honest Caveats

Two structural cautions define this jurisdiction. First comes the legal basis, which is transitional rather than settled; second comes banking, where a legacy of correspondent-banking loss still shapes account access. Both matter enough to set out in full below, under Regulatory Transition and Banking respectively, and neither is glossed over here.

The Belize Digital Asset Licence

Supervision rests with a single regulator, the Financial Services Commission of Belize, established under the Financial Services Commission Act 2023 (Act No. 8 of 2023), which replaced the former International Financial Services Commission.^[1] The operative licensing instrument is the Financial Services Commission (Digital Asset Services Licensing) Regulations 2025, SI No. 162 of 2025, made under the Act and in force from 30 December 2025.^[2][3] No genuine second licensing authority exists: the Central Bank of Belize issues banking AML guidance only.

Name disambiguation matters here. Distinct from the BVI, Mauritius, and Gibraltar Financial Services Commissions, the Belize FSC is what this page always means. More than one term covers the same regulated perimeter at different stages: "virtual assets" in the parent Act, a "digital asset services licence" in the 2025 Regulations, and a "special licence for trading in digital assets" in the 2026 Amendment Act.^[1][4]

A virtual asset is broadly defined. Section 2 of the FSC Act 2023 defines it as any digital representation of value that can be digitally traded, transferred, or used for payment or investment, expressly including cryptocurrencies, stablecoins, non-fungible tokens and in-game currencies that can be cashed out, but not digital representations of fiat currency.^[1] Absent any dedicated stablecoin or e-money regime, stablecoins fall within the single broad definition. Tokens with securities characteristics may instead engage the Securities Industry Act 2021, also administered by the FSC.

Regulatory Transition

Belize is mid-transition, and an applicant must understand the sequence before relying on the licence. In the space of roughly three years, the position moved from no crypto-specific regime, to a statutory prohibition, to a transitional licensing instrument, to a promised permanent framework.^[1][2][4] Before the route opened, the FSC built the framework through a virtual-assets questionnaire and a dedicated steering group.^[10][11]

The permanent framework moved from promise to draft on 28 July 2026, when the FSC opened public consultation on the Digital Assets Bill, 2026. The consultation package comprises a consultation paper, a comments sheet and the draft Bill itself; the FSC set 8 September 2026 as the published deadline for comments.^[21] Until that Bill is enacted and commenced, nothing in it binds an applicant, and the transitional instrument remains the operative law.

The published consultation deadline has passed. The permanent terms can still move during the legislative process, so applicants should monitor the enacted text and commencement instruments rather than rely on the draft.

No grant of a permanent Belize digital-asset licence has been publicly confirmed, and the permanent regime’s terms were still a consultation draft when comments closed. Separately, the FSC’s LicenSys public register lists 29 licence and registration categories and none is a virtual-asset or digital-asset category, so the public register shows no digital-asset licence holder of any kind, transitional or permanent.^[22]

The transitional instrument has a successor. That successor, the FSC (Amendment) Act 2026 (gazetted 14 May 2026, not yet in force), inserts a power for the Commission to issue, as enacted “prior to the 31st day of December 2025”, a special licence for trading in digital assets, requires the Commission to be guided by the IOSCO Policy Recommendations for Crypto and Digital Asset Markets and FATF standards, and provides that a special licence must be converted to a full Part VI licence no later than 31 December 2027.^[4]

The Act commences on a date the Minister appoints by order, and fees under it are still to be prescribed, so treat the post-conversion detail as provisional.^[20]

Activities Covered

Rather than tiering into licence classes, the regime is broad and activity-based. Regulation 2 of SI 162/2025 defines the digital asset services that require a licence, and every entity providing those services in or from Belize must be licensed.^[2] One licence covers the field, rather than a menu of separate category licences.

Covered Activities

• Negotiation, brokerage, or exchange between digital assets and fiat currency. Converting, or arranging the conversion of, cryptocurrency to or from government-issued currency, whether Belize legal tender or any other. Applies to exchanges, OTC desks, and conversion-handling gateways.
• Negotiation, brokerage, or exchange between digital assets. Crypto-to-crypto exchange or brokerage. Applies to platforms matching one form of digital asset against another.
• Transfer of digital assets. Moving digital assets on behalf of another person. Applies to wallet providers, payment processors, and transfer services.
• Loan, deposit, custody, safekeeping, management, or administration. Lending or taking deposits of digital assets, or holding digital assets or instruments that enable control over them for clients. Applies to lending platforms, custodians, and institutional wallet providers.
• Issuance-related financial services. Participation in and provision of financial services related to the issuance, offer, or sale of a digital asset by an issuer.

What Falls Outside the Perimeter

The exemption is narrow. Purely technical, software, infrastructure, or support providers fall outside the regime only where they take no custody, exercise no control, and do not transact on behalf of others. Discretion remains with the FSC to bring such entities in-scope where their activities present material risk.^[2] In practice, the more an operator touches client assets or client flows, the more likely it needs a licence.

DeFi, DAOs, NFTs, and Securities Tokens

NFTs and stablecoins fall within the broad “virtual asset” definition in section 2 of the FSC Act 2023, and the regime is FATF-aligned and activity-based, so for a DeFi protocol, a DAO, or another emerging structure the operative question is whether the operator provides one of the five licensable services to others.^[1] Granular DeFi, DAO, and NFT treatment is expected to be clarified when the FSC issues digital-asset guidance.

Where a token has securities characteristics, the Securities Industry Act 2021 may apply instead of, or in addition to, the digital asset licence.^[6] The FSC has settled one part of that boundary: since 31 March 2026 it treats contracts for differences referencing digital assets as securities under that Act, and a firm registered under that Act must notify the FSC before dealing in them, having confirmed that its registration covers them; the wider token boundary is still pending FSC clarification.^[30]

Requirements

A Belize digital asset licence requires a Belize company, a licensed Belize registered agent, fit-and-proper clearance for the applicant and all relevant persons, a detailed business plan, AML/CFT controls and risk assessment, and audited financial statements or start-up financial projections. Regulation 5 of SI 162/2025 lists the application contents, regulation 6 sets the risk-based and fit-and-proper assessment, and regulation 7 lets the Commission attach conditions; the Regulations set no capital figure and do not mention economic substance.^[2]

Incorporation is as a Belize company under the Belize Companies Act 2022, which replaced the former IBC regime; forming it is the first step. See Belize company formation for the corporate layer this licence sits on top of.^[15] Nominee directors or shareholders may be provided only by a registered agent authorised by the FSC, and each nominee relationship must be declared to the Registrar.^[31]

Capital and Economic Substance

SI 162/2025 does not state a digital-asset capital figure. It requires audited financial statements or start-up financial projections with the application (regulation 5), assesses each application on a risk basis (regulation 6) and lets the Commission attach conditions to a licence (regulation 7(2)).^[2] The FSC (Capital Requirement) Regulations 2023, which repealed the 2020 Regulations, set paid-up capital by financial service in their Schedule, and that Schedule lists no digital-asset service.^[24]

As of 24 September 2026, no crypto-specific paid-up capital figure has been published.^[8] The circulating figures of USD 75,000–500,000 belong to other financial services in the 2023 Schedule, such as money exchange or trading in financial instruments, and must not be attributed to this licence.^[24]

Economic substance is a separate test. SI 162/2025 does not mention it, but the Economic Substance Act 2019 treats an entity regulated by the Commission as an “included entity” and requires an included entity to have a substantial economic presence in Belize. Under section 3(2), the Act does not apply to an entity controlled and managed outside Belize and tax resident elsewhere, which must evidence that residence to the FSC.^[29] A licensee managed from Belize should therefore plan for core income-generating activity in Belize, adequate local operating expenditure and qualified staff, a physical office, and documented board decision-making in Belize. A licensee that treats the entity as a paper structure rather than a substance-bearing operation is exposed on this point.^[2][24]

Fit-and-Proper and Key Persons

Fit-and-proper assessment covers the applicant and its key persons under regulation 6, calibrated to the nature, scale, and risk profile of the proposed activities. In practice this means a compliance-officer or MLRO arrangement, KYC on principals, and the usual integrity, competence, and financial-soundness checks.

A business plan, financial projections, an AML/CFT manual, and risk-management and cybersecurity policies are part of the package, inferred from FSC general licensing practice plus the operational requirements in SI 162/2025; the precise digital-asset checklist is expected when the FSC publishes guidance.^[2][9]

Application and Timeline

Applications are filed in English through LicenSys, the FSC’s online system.^[2] The FSC has published no application-to-grant timeframe for the digital asset licence (checked 27 September 2026), so any single figure should be treated with caution. On the basis of comparable offshore reviews and Belize securities-licence experience, a realistic working estimate is three to six months of FSC review for a complete, well-prepared application, or about four to eight months end to end once the formation, compliance-pack and filing stages below are included.

No granted licence had been publicly confirmed by 27 September 2026, and the FSC’s LicenSys register still lists no digital-asset licence type, so treat the count as unconfirmed rather than zero. Cutting both ways for a first mover, the regulator is building its process alongside the first applications, which can mean more direct engagement but less predictability than a settled regime.^[2]

Required Documents

The FSC had not published a digital-asset application checklist by 27 September 2026. SI 162/2025 nevertheless lists the file contents in regulation 5: evidence of incorporation in Belize, a detailed business plan, an organisational chart, CVs of directors, officers, management, technical staff, shareholders and beneficial owners, group details, a technology demonstration, AML/CFT internal controls and risk assessment, audited financial statements or start-up projections, and the application fee.^[2] The FSC’s general licensing practice and the operational duties in the Regulations support the working material described below, but they do not amount to a prescribed crypto checklist.^[9]

Confirmed Statutory and Filing Records

• Entity and agent records. Belize incorporation evidence and the appointment of a Belize registered agent that is itself FSC-licensed.
• Financial evidence. Audited financial statements or start-up financial projections, as regulation 5 requires; capital and substance evidence belongs in the working file below.
• Applicant and key-person records. Identification and fit-and-proper material for the applicant, controllers, and the people carrying the regulated functions.

Current Working File Pending FSC Guidance

A prudent file includes the business plan and financial projections, the AML/CFT manual, risk-management and cybersecurity policies, KYC on principals, and the operating evidence behind the substance set-up. These categories follow FSC general licensing practice and SI 162/2025’s operating requirements; they must be revalidated when the FSC issues digital-asset guidance and before the application is filed.^[2][9]

Fees and Costs

Government fees are fixed in the Schedule to SI 162/2025: a USD 5,000 application fee and a USD 15,000 licence fee, USD 20,000 in total for Year 1.^[2][7] This is a single transitional fee set, not a category-tiered schedule. Professional, capital, and substance costs sit on top and vary with the business model.

Government Fees (SI 162/2025 Schedule)

Note: these are the only fees fixed in the transitional Regulations. Fees under the FSC (Amendment) Act 2026 are to be prescribed (s.81(3C)) and may differ; confirm before relying on the figures for the converted regime.^[4]

Indicative Total Cost

Beyond the USD 20,000 in government fees, a realistic Year 1 budget should provide for licensing-advisory and legal work, AML/CFT manual and risk-policy drafting, a business plan and financial projections, the licensed Belize registered agent, compliance-officer arrangements, and economic-substance set-up. Offshore digital-asset structures commonly see professional set-up, excluding capital and government fees, run under roughly USD 50,000, though the figure is model-dependent and not Belize-specific.^[19] Capital is separate; no digital-asset figure is published, as covered above.

Taxation

Belize charges no corporate income tax on companies for basis years from 1 January 2020, except on petroleum operations and, from basis year 2025, approved Designated Processing Area operators. Companies pay Business Tax on gross receipts instead, and for a company it is not territorial: it reaches receipts whether received in Belize or elsewhere, with foreign dividends, interest and royalties at 5% and certain foreign gains at 5% of the annual net gain. A Belize company is outside the charge only if it is tax resident in another country (not one on the EU’s Annex I list), has no permanent establishment in Belize and files the prescribed claim, which a licensee operating from Belize should not assume. There is no separate capital gains tax.^[12][26]

Business Tax and the Rate Question

The 0% headline is the corporate income tax position, not a zero-tax claim. Belize companies pay Business Tax on gross receipts. Headline Business Tax rates include 1.75% on general trade and business and higher rates for some financial-services categories, with institutions licensed under the Banks and Financial Institutions Act taxed at 15%.^[12]

For a digital-asset licensee the likely line is item (q) of Schedule IX: 3% on the receipts of persons licensed by the International Financial Services Commission to provide international financial services, or 6% on all receipts where they are mixed with domestic ones; section 83 of the Financial Services Commission Act 2023 reads those references as the Financial Services Commission and financial services.^[26][1] We found no Belize Tax Service ruling on the point (checked 29 September 2026), so confirm the rate before relying on it, because it materially affects the all-in tax position.

Economic Substance

Every FSC-regulated entity is an included entity under the Economic Substance Act 2019, a digital-asset licensee included, as is a company carrying on a listed relevant activity; the Act does not apply to an entity controlled and managed outside Belize and tax resident elsewhere (section 3(2)), and SI 162/2025 itself does not mention substance.^[2][29] The obligations the Act creates, genuine local activity, staff, office, and board decision-making, are a real cost of the structure and are set out above under Requirements.

CARF, CRS, and Pillar Two

Belize is a committed CARF jurisdiction, a signatory to the November 2023 joint statement, which set a 2027 target, and is now listed by the OECD Global Forum for first exchanges by 2028 (list of 14 September 2026).^[16][17] It is also a CRS participating jurisdiction, and the BEPS Multilateral Instrument has been in force for Belize since August 2022.

Nothing indicates that Belize has enacted a Pillar Two top-up tax; as a small economy, exposure is limited for most operators, but a group at or above the EUR 750m threshold in two of the four preceding fiscal years may still face top-up tax in other jurisdictions where it operates, under the income inclusion or undertaxed profits rules.

AML/CFT and Compliance

The primary AML law is the Money Laundering and Terrorism (Prevention) Act, Cap. 104. The Money Laundering and Terrorism (Prevention) (Amendment) Act 2026 (Act No. 7 of 2026, gazetted 14 May 2026) adds digital asset service providers to the Act’s financial institutions and reporting entities, with the FSC as their supervisor, from a commencement date the Minister appoints by order. Suspicious transaction reports go to the Financial Intelligence Unit, an Egmont Group member, which also supervises designated non-financial businesses and professions.^[5]

Licensee Obligations

Under SI 162/2025, a licensee must implement and maintain AML/CFT systems, conduct ongoing customer due diligence and suspicious-activity monitoring, report to the Financial Intelligence Unit, and keep operational and cybersecurity safeguards in place with prompt incident reporting to the FSC.^[2][9] With no EU DORA-equivalent statute in place, the operational-resilience obligation is the FSC's own cybersecurity and incident-reporting requirement rather than a prescriptive ICT framework.

Advertising and Promotion

Advertising of regulated activity is restricted. Section 74 of the FSC Act allows only persons licensed, authorised, or approved under the Act to publish advertisements connected with regulated activity, and such advertisements must not be unclear, false, or misleading. Breaches attract administrative sanctions including monetary fines.^[1] This is relevant to any operator marketing a digital-asset service from or into Belize.

Banking

Banking is the single biggest practical constraint on a Belize digital-asset structure, and the most common reason these structures stall. By itself, a Belize licence does not unlock a bank account.

The de-risking legacy is severe and persistent. The Government of Belize states that when the CFATF publicly grey-listed Belize after its 2011 evaluation, the country lost 87% of its correspondent banking relationships.^[13] On a different metric and period, the IMF found that Belize lost 83% of its correspondent banking relationships during 2013–2016; correspondent banks terminated over two-thirds of their accounts with domestic banks between mid-2015 and early 2016, and the largest indigenous bank lost all of its relationships.^[27]

Because Belize banks depend on correspondent relationships to clear international payments, even a well-run licensed operator can face outgoing-transfer delays and onboarding friction.

Crypto-specific friction sits on top. Converting crypto to and from Belize dollars is reported to be difficult, delayed, or subject to extra documentation, and some local providers decline crypto business outright.^[19] The strong CFATF standing helps at the counterparty-diligence level but does not reverse the structural correspondent-banking gap. Put bluntly: a licence is a legal perimeter, not a banking guarantee.

Banking Archetypes for a Belize Operator

A workable banking and payments stack for a Belize-licensed firm runs through three archetypes, with domestic Belize banking treated as supplementary rather than primary:

The most common failure mode is treating a single domestic account as the banking plan. Experienced operators build a multi-provider stack and start onboarding in parallel with the FSC application, so the banking timeline runs alongside the review rather than stacking on top of it.

Through Jagelski & Partners’ partner network, businesses placed more than fourteen billion euros in client turnover across banking and EMI relationships in 2025. Coverage runs to 90+ institutions across EU banks, regulated EMIs, and payment institutions, offshore correspondent routes, and crypto-native rails. Jagelski & Partners is paid by the institution, not by the client, and does not charge an onboarding fee. Banking feasibility for a Belize structure belongs in the written scope, before any licence application is filed. Banking placement across our partner network →

International Standing

Belize is a member of the Caribbean Financial Action Task Force, a FATF-style regional body. Its Fourth Round Mutual Evaluation Report, adopted at the CFATF Plenary in December 2024 and published on 23 January 2025, rated Belize Compliant on 38 of the 40 FATF Recommendations and Largely Compliant on the remaining 2 (Recommendations 8 and 24).^[28][13]

The 2025 result is a turnaround. The Government of Belize describes the result (38 Compliant, 2 Largely Compliant) as making Belize the second country globally to be rated Compliant or Largely Compliant on all 40 Recommendations at a first attempt. On effectiveness, the more demanding measure, Belize was rated Substantial on 5 of 11 Immediate Outcomes, Moderate on 5, and Low on 1.^[13][28] The clean status reduces counterparty-diligence friction relative to a grey-listed peer, but it does not reverse the legacy correspondent-banking gap covered under Banking, which is why banking, not standing, is the gating constraint.

Market Access

A Belize licence confers no EU passporting rights, and MiCA contains no third-country equivalence regime, so there is no mechanism for the European Commission to recognise a Belize licence as equivalent to an EU CASP authorisation.^[18] Belize has no statutory reverse-solicitation doctrine of its own; that is a MiCA concept. Functionally, the relevant Belize control is the extraterritorial rule that a Belize-incorporated entity serving clients abroad is deemed to be operating from within Belize and needs a licence.

For an EU-facing operator, the practical analysis is the same as for any non-EU licence: MiCA Article 61 permits a third-country firm to serve EU clients only on the client's own exclusive initiative, and the European Securities and Markets Authority reads it narrowly: its guidelines list signs, such as EU-targeted marketing or advertising, that a firm is likely to be regarded as soliciting, judged on all the facts, and a firm that solicits EU clients cannot rely on the exemption.^[18] The realistic structure is a Belize licence for non-EU markets alongside a separate EU CASP entity where EU access is required. Detail on what counts as solicitation is in Reverse Solicitation Under MiCA.

Advantages and Limitations

Belize offers a genuine early-mover position with a 0% corporate income tax base and strong international compliance standing, weighed against a transitional legal basis and severe banking friction. Regulatory novelty against operational banking is the honest trade-off.

• ✓ Early-mover regulated regime. A licensing route live since 30 December 2025.
• ✓ 0% corporate income tax. None on companies since 2020 except petroleum and, from 2025, approved Designated Processing Area operators, and no separate capital gains tax; Business Tax on gross receipts still applies.
• ✓ Strong FATF/CFATF standing. Compliant on 38 and Largely Compliant on 2 of 40 Recommendations (2025); not grey-listed.
• ✓ Modest fixed government fees. USD 5,000 application plus USD 15,000 licence under SI 162/2025.
• ✓ 100% foreign ownership. No mandatory local director for a standard company; one director and one shareholder suffice.
• ✓ English-language jurisdiction. Statutes and applications operate in English.
• × Transitional legal basis. The licence is temporary, for up to one year with no right to renewal or conversion; special licences under the FSC (Amendment) Act 2026 must convert to a full Part VI licence by 31 December 2027. Mitigation: structure on the assumption that terms, fees, and capital will be re-set at conversion, and track the FSC's permanent framework.
• × Banking access is severe. Belize lost the large majority of its correspondent banking after 2011 and domestic banks are crypto-cautious. Mitigation: plan a multi-provider banking stack through third-jurisdiction EMIs and crypto-native rails before the licence, not after.
• × Key figures unpublished. No crypto-specific capital floor, no official timeline, and no confirmed VASP Business Tax rate as of 27 September 2026. Mitigation: confirm each with the FSC and Belize Tax Service before relying on a number.
• × No confirmed precedent. No digital asset licence has been publicly confirmed as granted. Mitigation: treat the count as unconfirmed and engage with the FSC directly.
• × No EU passporting and no sandbox. A non-EU licence with no MiCA access and no test-and-learn sandbox. Mitigation: add a separate EU CASP entity for systematic EU access.
• × Mandatory economic substance. The Economic Substance Act 2019 requires genuine local activity, staff, office, and board decision-making unless the licensee is controlled and managed abroad and tax resident elsewhere. Mitigation: budget for real substance rather than a paper structure.

How Belize Compares

Belize sits in the offshore Caribbean peer set with the BVI, the Cayman Islands, the Seychelles, and Vanuatu. Cleanest of the like-for-like contrasts is the BVI, the kind of settled, single-application VASP regime Belize is moving towards. The Belize regime remains less settled than these peers as of September 2026.

Compare every crypto jurisdiction side by side →

The key difference is: Belize shares 0% corporate income tax with the BVI, the Cayman Islands, and Vanuatu, and clean FATF standing with every peer except the BVI, but it is the only one of the group whose licence is explicitly transitional and whose capital and timeline are unpublished. Like the Seychelles, it has no licence yet confirmed as granted. It trades settled certainty for an early-mover position.

When Belize Is the Right Choice

Choose Belize if you want an early-mover regulated Caribbean digital-asset licence with a 0% corporate income tax base, you do not need EU or US market access, you can build and fund a multi-provider banking stack independently, and you can accept a one-year transitional licence with no right to renewal or conversion. The clean FATF standing and modest fixed government fees are genuine draws for a first-mover comfortable with regulatory novelty.

Consider a more settled peer if certainty matters more than being early. For an established single-application offshore regime, the BVI VASP regime is the closest model of where Belize is heading, though the BVI remained FATF grey-listed in the June 2026 list. Institutional credibility and a deeper register point to the Cayman Islands, the regional benchmark. Where a written rulebook with published capital tiers matters, the Seychelles VASP Act is more prescriptive. Vanuatu suits only capitalised Asia-Pacific operators given its much higher capital and fee load.

Alongside a Belize licence, a MiCA CASP authorisation in a member state passports to the EEA (the 27 EU states plus Iceland, Liechtenstein and Norway)^[25] for systematic EU market access, an option for operators with both offshore and EU client bases. The narrow reverse solicitation exemption under MiCA Article 61 applies only where the client acts on its own exclusive initiative, judged on all the facts under ESMA’s guidelines, and is not a market-entry strategy.

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Common Mistakes

Recurring errors with Belize cluster around outdated assumptions and the transitional nature of the regime. Catching them early saves you from building a structure on a premise that no longer holds.

• Assuming Belize has no crypto regulation. Outdated. A licence has been mandatory since the FSC Act 2023, and a licensing route opened on 30 December 2025.
• Relying on a forex, securities, or IFSC-era licence for crypto. Pre-2023 licences do not authorise virtual-asset business, which is expressly prohibited without the digital asset licence.
• Treating the licence as permanent. It is transitional. A special licence must convert to a full Part VI licence by 31 December 2027.
• Underestimating banking. A Belize licence does not unlock banking; correspondent-banking loss and de-risking are severe and persistent. Plan banking before, not after.
• Ignoring economic substance. An FSC-regulated licensee is an included entity under the Economic Substance Act 2019, which requires local activity, staff, office, and board meetings, separately from the licence, unless the licensee is controlled and managed abroad and tax resident elsewhere.
• Quoting the wrong capital figures. Circulating USD 75,000–500,000 figures belong to other services in the FSC capital Schedule, such as money exchange (USD 75,000) or trading in commodity-based and other financial instruments (USD 500,000), not the digital asset licence.
• Overlooking extraterritorial reach. A Belize entity serving clients abroad is deemed to be operating from within Belize and needs a licence.

Frequently Asked Questions

References