As the globe progresses increasingly with the improvement of technology, the expansion of electronic remittance systems can be observed. There are three entities engaged in electronic remittance transactions:

  • issuing bank;
  • acquirer;
  • user of payment systems.

In order to lawfully conduct commerce, acquirers and issuers will require a PSP (Payment Service Provider) charter. It is granted at the state level by the realm to whose dominion the enterprise belongs. The selection of dominion in which you wish to secure a PSP charter should be considered diligently, so that the payment scheme can function with cards of myriad banks and currencies of numerous nations. One of the most moderately obtainable realms is Belize. Considering the moderate stipulations for the equity capital when securing a charter, Belize can be regarded as the supreme selection.

Payment system licence: the main advantages of Belize

In modern times, remittance facilitators situated in conventional pecuniary hubs, like the United States and the European Union, have encountered heightened constraints from overseeing bodies. Consequently, remittance facilitators have grown more constrained in the sectors they cater to, forsaking not solely conventional precarious markets, but also more conventional, cautious enterprises. A PSP authorization in Belize furnishes an esteemed stage to engage in payments-linked commerce with reduced hindrances encountered by operators in grander jurisdictions.

Belize provides a PSP authorization that encompasses all associated pecuniary undertakings, including person-to-person pecuniary exchanges and pecuniary administration. In recent epochs, the domestic governance has endeavored with considerable accomplishment to transition the emphasis of the country's economy from rudimentary commodities to monetary amenities, inclusive of bestowing a remitment charter.

Numerous principal remittance utility suppliers possess PSP charters in Belize. Moreover, the procedure of acquiring a charter is economically efficient and can be accomplished in a moderately brief duration. The domestic handling of global commercial enterprises and the juridical framework render Belize one of the most captivating sites for asset conservation.

A remittance authorization permits a range of pursuits, such as executing remittance transactions, dispensing and/or procuring remittance instruments, and monetary conveyances. Similar to other pecuniary establishments, PSPs are proscribed from receiving deposits or other reimbursable funds from the populace. Operators with a PSP authorization must employ the funds solely to furnish remittance amenities.

Payment licence in Belize: how to apply?

  • Establishment accreditation in Belize.


This is not a conventional, but a specialized enterprise that will possess a particular modus operandi mirroring its undertakings.

  • Compilation of the petition for enrollment.
  • Compilation of an exhaustive assortment of parchments encompassing personal particulars concerning the executive cadre, every stakeholder, all functionaries, reserved pecuniary resources substantiating the liquidity of the remittance entity.
  • Engagement of a provincial registered dignitary.
  • Possession of a provincial registered domicile for the enterprise (simulated domicile is permissible), imperative for receipt and enrollment of petitions, receipt of correspondences, etc.
  • Remittance of a pecuniary surety (contingent upon the preferred pursuit, ranging from 5,000 to 100,000 USD), which shall not be reimbursed in the event of the enterprise's refusal to procure a charter.


The principal must be maintained in an authorized bank/financial entity within this jurisdiction.

  • Remuneration of the license charge (following preliminary sanction of the petition).

A remuneration utility purveyor authorization in Belize is granted by the International Financial Services Commission (IFSC) in accordance with the stipulations of the International Monetary Workforce Commission Act. The Commission supervises the undertakings of pecuniary establishments enrolled and functioning in Belize. It is its duty to authenticate that endorsed establishments conform with relevant statutes and decrees and subsequently grant a licensure accord.

The epoch for conferring a PSP permit is 3 to 5 moons from the date of the real tender of the official petition to the IFSC. Pursuant to the lawful stipulations, the firm is mandated to refresh the permit annually. In the course of contemplating the plea for reclamation of the remittance utility supplier's licence, the Commission will evaluate the liquidity, efficacy of the amenities proffered by the establishment, and the outlook for subsequent operations of the specialized enterprise.

PSP licence in Belize: main activities

Upon seeking a PSP permit, customers may select one or several of the sanctioned undertakings:

  • Services pertaining to the deposition of funds in a remittance account and operations connected to the administration of such an account.
  • Services concerning the extraction of funds from a remittance account and operations related to the administration of such an account.
  • Automatic withdrawals, comprising singular automatic withdrawals.
  • Monetary operations using a remittance card or alternative contrivance with akin capabilities.
  • Execution of monetary transfers, such as recurrent orders.
  • Execution of monetary operations in a structure where the beneficiary of the remittance has admittance to credit.
  • Emission and/or procurement of remittance contrivances.
  • Monetary transmission.
  • Intermediary amenities between the remittance service utilizer and the merchandise purveyor.

Prior to acquiring a PSP authorization in Belize, bear in mind that the applicant firm's governance (directors and other functionaries) must possess sufficient erudition and expertise in the enterprise the firm intends to pursue. The IFSC retains the prerogative to solicit documentary proof of the vocational aptness of the applicant's attributes, the commendable repute of the framework, and the principal agents of the establishment.

The following is a summary of the features of Belize's PSP licence.

Type of company required to participate

Belize Ltd

Corporate taxation


Minimum paid-up share capital

from 5 thousand to 100 thousand USD.

Basic requirements

  • Physical office in the country.
  • Minimum of 2 directors (1 local).
  • Compliance Officer and MLRO (Belize residents).
  • Qualified personnel.
  • Professional liability insurance.
  • Obligation to file locally audited financial statements.

Time period

A decision on a full application is usually made after IFSC approval within 3-5 months from the date of submission.


This article is furnished for edifying intentions and should not be construed as juridical counsel. If you yet possess inquiries regarding how to secure a PSP authorization in Belize, communicate with TK Deal experts promptly.

The savants of our corporation will furnish the requisite assistance.

  • at each juncture of enterprise enlistment for the rendering of remittance amenities;
  • in formulating a plea for a PSP credential.

You may reach out to us by completing the response form provided.