Regulatory Alerts2004-01-08
Belize Exchange Control Regulations Act 2003
The Government of Belize issued the Exchange Control Regulations Act 2003 to regulate all dealings in gold and foreign currency, requiring Central Bank permission for transactions and mandating the surrender of specified assets to authorized dealers. The legislation restricts cross-border payments and securities transfers, prohibiting residents from engaging in financial activities outside scheduled territories without explicit consent. It further establishes a licensing framework for cambios, imposes restrictions on real property sales, and defines enforcement mechanisms to ensure compliance with national exchange control policies.
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