Belize is considered to be a true banking haven, one of the last places on earth. There are five domestic banks and several international banks in Belize.
Banking secrecy is still in place here, although there is increased pressure from the United States to provide transparency about the assets held in Belize banks. Liquidity of the banks is high, at 25% it is considerably more than western banks. But, then there are no deposit guarantee schemes in Belize, so if a Belize bank would go out of business, the bank would have to be bankrupted and it’s assets sold before any remaining funds can be returned to the account holders.
Interest rates in Belize are also very high, expect to pay about 15% for a morgage loan – and don’t expect to be able to finance the entire real estate either.
We regularly write articles on Belize Banks and banking. These articles are shown below.