Belize is a Central American country located on the eastern coast of the Yucatán Peninsula. The country shares borders with Mexico, Guatemala, and the Caribbean Sea. Belize has a tropical climate and is known for its rainforests and Maya ruins. English is the official language of Belize, and the currency is the Belize dollar (BZD).
The Financial Services Commission (FSC) of Belize is the regulatory body responsible for issuing forex licenses in Belize. A forex license in Belize allows brokers to offer online trading services to clients worldwide. In order to obtain a forex license in Belize, brokers must meet certain requirements set by the FSC.
How to Get forex license in Belize?
In order to obtain a forex license in Belize, brokers must first incorporate a company in Belize. Once the company is incorporated, the broker then needs to submit an application to the FSC along with the following documents:
- Certificate of Good Standing from the company’s registered agent:
The first step in applying for a forex license in Belize is obtaining a Good Standing Certificate from the company’s registered agent. The Certificate of Good Standing is an important document that proves that the company is in good standing with the laws of Belize. - Business Plan:
The second step in applying for a forex license in Belize is to submit a business plan to the FSC. The business plan must include information about its proposed business activities, its financial projections, and its marketing strategy. - Due diligence report:
The third step in applying for a forex license in Belize is to submit a due diligence report to the FSC. The due diligence report must be prepared by an independent third party and must include information about the company’s shareholders, directors, and officers. - Audited financial statements:
The fourth step in applying for a forex license in Belize is to submit audited financial statements to the FSC. The financial statements must be prepared by an independent accountant and must include information about the company’s assets, liabilities, and income. - Anti-money laundering policy:
The fifth step in applying for a forex license in Belize is to submit an anti-money laundering policy to the FSC. The anti-money laundering policy must be approved by the FSC and contain procedures for preventing money laundering. - KYC/AML procedures:
The sixth step in applying for a forex license in Belize is to submit KYC/AML procedures to the FSC. The KYC/AML procedures must be approved by the FSC and must contain procedures for identifying and verifying the identity of customers. - Risk management policy:
The seventh step in applying for a forex license in Belize is to submit a risk management policy to the FSC. The risk management policy must be approved by the FSC and contain procedures for managing risks associated with trading activities. - Compliance manual:
The eighth step in applying for a forex license in Belize is to submit a compliance manual to the FSC. The compliance manual must be approved by the FSC and must contain procedures for complying with applicable laws and regulations. - Employee code of conduct:
The ninth step in applying for a forex license in Belize is to submit an employee code of conduct to the FSC. The employee code of conduct must be approved by the FSC and contain standards for employee behavior. - Marketing materials:
The tenth step in applying for a forex license in Belize is to submit marketing materials to the FSC. The marketing materials must be approved by the FSC and must comply with applicable laws and regulations.
Once all of the required documentation has been submitted, the FSC will review the application and decide whether or not to issue a license. If the FSC decides to issue a license, it will provide the broker with a list of conditions that must be met for the license to remain valid.