Regulatory Alerts2015-07-08
Direction No. 6 - Payments for Exports
The Central Bank of Belize issued Direction No. 6/2014 to regulate foreign exchange receipts from exports, requiring payments in US dollars or freely convertible currencies. Exporters must utilize XCH2 forms to report shipments valued over BZ$10,000, ensuring proceeds are deposited with authorized dealers who endorse the forms before submission to the Central Bank. The directive also mandates prior approval for payments received in kind and allows installment payments to be certified on the reverse of the XCH2 form upon receipt.
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