Regulatory Alerts2014-12-19
Direction No. 3 - Residential Status
The Central Bank of Belize issued Exchange Control Direction No. 3/2014 to define the residential status of individuals, governmental bodies, non-profit organizations, and enterprises for regulatory purposes. The directive establishes that residential status is determined by physical presence and business location rather than nationality, specifying criteria for residents such as those residing in Belize for at least one year and enterprises operating locally. It further delineates non-residents, including foreign nationals residing abroad for over a year and specific entities like International Business Companies, while instructing authorized dealers to refer ambiguous cases to the Central Bank.
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