Direction No. 20 - Payments for Services Outside Belize

CENTRAL BANK of BELIZE

EXCHANGE CONTROL DIRECTION NUMBER 20/2025

TO: AUTHORISED DEALERS

Payments for Services Outside Belize This Direction grants permission to Authorised Dealers to provide exchange control approval to residents for purchases or transfers of foreign currency to pay non-residents for services rendered. It specifies the types of services covered, the maximum approval limits for Authorised Dealers, and the documentation that customers must provide when applying to purchase or transfer foreign currency.

1.0 List of Applicable Services and Payment Limit 1.1 Under this Direction, Authorised Dealers may sell or transfer foreign currency payments for the following services:

a. Accounting Services Payments for accounting, advisory, auditing, bookkeeping, and tax consulting services.

b. Architectural Services Payments for the architectural design of urban and non-urban spaces and other development projects.

c. Audiovisual Services Payments for services and fees related to the production of motion pictures (on film, video, or transmitted electronically), radio and television programs (live or on tape), and musical recordings, including productions intended for distribution on the internet. Fees associated with distribution rights for television, radio, and film are also included.

d. Communication Services Payments for the broadcast or transmission of sound, images, data, or other information, including business network and support services.

e. Computer Services Payments for hardware- and software-related services, as well as data-processing services, such as business process outsourcing.

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f. Embassy Services Payments for goods and services by foreign embassies and consulates based in Belize. Also included are payments made to foreign embassies and consulates by residents for visas, passports, and other related items.

g. Engineering Services Payments for the planning and project design services, such as design and supervision of airports, bridges, highways, and dams.

h. Financial Services Payments for services provided by banks and other financial corporations abroad, including financial intermediation and auxiliary services, and fees associated with deposits, loans, letters of credit, credit cards, foreign exchange transactions, financial advisory, financial market operational and regulatory services, etc.

i. Information Services Payments for news agency services, database services and storage, search engine services, and fees for subscriptions to newspapers, magazines, periodicals, etc. whether by mail or electronic transmission.

j. Legal Services Payments for legal advisory and representational services in any legal, judicial, and statutory procedures.

k. Postal and Courier Services Payments for the pick-up, transport, and express or door-to-door delivery of letters, other printed materials, and packages, including post office and mailbox rental services.

l. Scientific and Other Technical Services Payments for the research and experimental development of new products and processes, waste treatment, depollution, agricultural, veterinary, product testing, certification, technical inspection, and other environmental protection services.

1.2 Authorised Dealers may facilitate foreign currency payments for the provision of services from non-resident providers up to the equivalent of BZ $100,000. All other requests above this limit must be directed to the Central Bank of Belize.

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2.0 Required Documentation 2.1 Authorised Dealers shall require a contract or valid invoice to facilitate payments for services where the following apply:

a. Relevant documents must show that services were rendered and payment is due, or future services will be supplied in return for a specified amount owed. b. The purchase date for the service listed on the invoice must be within six (6) months of payment date. If purchase date is older, an updated invoice or statement must be obtained.

2.2 Foreign exchange approval obtained from an Authorised Dealer or the Central Bank of Belize cannot be transferred to another Authorised Dealer.

[Signature] Controller of Foreign Exchange CENTRAL BANK OF BELIZE

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