Belize · FSC · Regulated offshore
Belize forex license (FSC, Securities Industry Act 2021)
Belize has long been known to brokers, but the old “trading in foreign exchange” labels belong to the IFSC era. Since December 2023, forex and CFD dealers register with the Financial Services Commission under the Securities Industry Act 2021, with real substance and capital held in Belize.
Updated · By the Forex License Research Team · How we research
Yes, Belize licenses forex and CFD brokers, through FSC registration under the Securities Industry Act 2021, with a resident CEO and compliance officer and capital held in Belize.
In shortBelize regulates forex and CFD brokers through registration with the Financial Services Commission (FSC) under the Securities Industry Act 2021, in force with its 2023 regulations since 15 December 2023. Brokers register for trading in securities as principal or as agent; CFDs and currency options are securities under the Act. The CEO and compliance officer must be resident in Belize, and regulatory capital must be held in Belize.
Key facts
| Regulator | Financial Services Commission (FSC), Belize |
|---|---|
| Licence | Securities Industry Act registration: trading in securities as principal (market maker) or as agent |
| Legal basis | Securities Industry Act 2021 (Act No. 46 of 2021); Securities Industry Regulations 2023; Financial Services Commission Act 2023 |
| Entity | Company incorporated under Belize law |
| Typical timeline | Typically 3–6 months; no published service standard |
| Capital | Yes: tiered by activity (highest for trading as principal), held at all times in Belize in Belize-dollar assets |
| Tax | Belize business tax and economic substance rules apply; confirm current treatment with a Belize tax adviser |
| Recognition | Moderate: known to the industry; regime modernised since 2023 |
| Client markets | International clients; no passporting; soliciting Belize residents from abroad also counts as business in Belize |
| EU passport | No |
| Our service | On request via partners |
Indicative information for comparison only, reviewed on the date shown. Requirements change and depend on your structure; confirm with the regulator and local counsel before deciding.
In the regulator’s words
“The FSC is vested with the responsibility and power to register and regulate securities activities in and from within Belize… For an entity to be considered for registration, a complete application must be submitted, and the requirements set under the FCS’s Fit and Proper Criteria, SIA, Securities Industry Regulations 2023, and Economic Substance Act must be met.”
Overview
Belize’s Financial Services Commission (FSC), formerly the IFSC, now regulates securities business under the Securities Industry Act 2021 (SIA). Schedule I of the Act lists contracts for differences and options on currencies as securities, so a forex and CFD broker registers for trading in securities as principal (market making) or as agent.
Belize requires real presence: a resident chief executive and compliance officer, a place of business with paid staff, and regulatory capital held in Belize. That makes it more demanding than its old reputation suggests, and more credible.
From the IFSC era to the Securities Industry Act
For years Belize brokers held IFSC licences for “trading in foreign exchange” or derivatives. That framework has been replaced:
- the Securities Industry Act 2021 was gazetted in November 2021;
- the Financial Services Commission Act 2023 replaced the IFSC Act;
- the Securities Industry Regulations 2023 and the core parts of the Act came into force on 15 December 2023, with a transition period for firms newly brought into registration.
If a provider still sells a “Belize trading in foreign exchange licence”, ask exactly which statute and category it refers to.
Which category a forex and CFD broker needs
Schedule I of the SIA lists, among securities, options on any currency, contracts for differences and foreign exchange contracts carried out in connection with a securities transaction. A broker therefore registers for:
- trading in securities as principal, if it takes the other side of client trades (market making), or
- trading in securities as agent, if it passes orders to a counterparty.
The category drives the capital tier: principal trading carries the highest requirement, agency a lower one, and arranging or advice the lowest.
Substance: people and premises in Belize
The 2023 regulations require the chief executive (managing officer) and the compliance officer to be registered with the FSC and resident in Belize; their responsibilities cannot be delegated. The Act defines a place of business as premises where the firm employs staff and pays salaries, and the Economic Substance Act applies. Material functions may be outsourced only to a licensed managing agent.
Capital and insurance
Regulatory capital is tiered by activity and must be held in Belize, in Belize-dollar assets, deposited with an authorised bank, custodian or depository before the registration is granted. It is monitored on an ongoing basis together with liquidity requirements. Firms also need professional indemnity, directors and officers, business interruption and fidelity insurance, reviewed every year. We set out the amounts for your category in a proposal rather than publishing figures that change.
How the application works, step by step
Incorporate a Belize company
The applicant must be incorporated under Belize law.
Appoint resident officers and set up premises
Hire or appoint a resident chief executive and compliance officer and establish a place of business with paid staff.
Open a LicenSys account
Applications are filed online through the FSC’s LicenSys platform with two-factor login.
Prepare the application
Complete the prescribed form with policies, risk and internal controls, execution and custody arrangements, business plan and personal questionnaires.
Submit and answer questions
File with the application fee and respond to the FSC’s supplementary requests.
Deposit regulatory capital
Place the required capital with an authorised bank or custodian in Belize before grant.
Registration and auditor
Pay the registration fee, receive the digital certificate and conditions, and appoint an FSC-approved auditor.
Documents you will usually need
- Application form with supervisory, internal-control and risk management policies
- Execution, settlement and custody arrangements
- Organisation chart with job descriptions
- Certificate of good standing and memorandum and articles
- Financial statements and evidence of indemnity insurance
- Details of registrations held in other jurisdictions
- Three-year business plan
- Personal questionnaires for each holder, director and officer
- Registration forms for the chief executive and compliance officer
Indicative timeline
| Stage | Typical time |
|---|---|
| Company, resident officers and premises | 1–2 months |
| Application pack | 3–6 weeks |
| FSC review and questions | 2–4 months (no published standard) |
| Capital deposit and grant | 2–4 weeks |
Substance and people
- Chief executive (managing officer) registered with the FSC and resident in Belize
- Compliance officer registered with the FSC and resident in Belize
- Place of business in Belize where staff are employed and paid
- Economic Substance Act requirements
- Outsourcing of material functions only to a licensed managing agent
Ongoing obligations
- Audited annual financial statements within 120 days of year-end
- Quarterly interim financial statements within 30 days
- Regulatory capital and liquidity calculations, and an annual risk and capital disclosure
- FSC returns and AML/CFT questionnaire through LicenSys; renewal before 31 December
- Client money segregation and reconciliation; insurance cover reviewed yearly
Advantages
- A real, modern securities statute covering CFDs
- Online filing through LicenSys
- Well known to brokers and vendors
- English-language common-law jurisdiction
Drawbacks
- Resident CEO and compliance officer required
- Capital must be held in Belize
- Quarterly and annual reporting
- Mixed reputation from the old regime
How it compares with the alternatives
| Option | Forex licence? | Typical time | Local substance | Recognition | Best for |
|---|---|---|---|---|---|
| Belize FSC (SIA 2021) | Yes | 3–6 months | High: resident CEO and compliance officer | Moderate | Brokers wanting a Caribbean licence |
| Seychelles FSA | Yes | 3–6 months | High: resident director and officers | Moderate | International retail brokers |
| Vanuatu VFSC | Yes | 3–6 months | Moderate | Moderate–low | Asia-Pacific focused brokers |
| SVG business company | No | Days, after a foreign licence | Low | Not a licence | Groups licensed elsewhere |
A good fit if you…
- Can fund and staff a real office in Belize
- Want a modern securities statute that covers CFDs
- Are comfortable holding regulatory capital locally
- Prefer an English-language, common-law jurisdiction
Probably not for you if you…
- Want a nominee or shelf licence with no local people
- Need EU or UK passporting
- Cannot hold capital in Belize
- Expect a light reporting burden
How to verify a licence or registration
Use the FSC’s LicenSys public search: filter by name or licence number to see the registration and its status.
Also check the FSC’s warning notices, which name firms falsely claiming Belize authorisation.
Recent changes
November 2021: Securities Industry Act gazetted. May 2023: Financial Services Commission Act 2023 replaced the IFSC Act. 15 December 2023: the Securities Industry Regulations 2023 and the core parts of the Act came into force. 2024: appeals moved to the FSC Appeal Panel. May 2026: an FSC amendment introduced a digital-asset licence. CFATF published its fourth-round evaluation of Belize in January 2025.
Frequently asked questions
Is there still a “forex licence” in Belize?
The current route is registration with the FSC under the Securities Industry Act 2021, in the category of trading in securities as principal or as agent. Older “trading in foreign exchange” labels date from the IFSC era.
Are CFDs covered by the Securities Industry Act?
Yes. Schedule I of the Act lists contracts for differences and options on currencies as securities.
Is spot forex covered?
The Act covers foreign exchange contracts only when carried out in connection with a transaction in securities. Confirm the treatment of your exact product set with the FSC and Belize counsel.
Must officers live in Belize?
Yes. The chief executive (managing officer) and the compliance officer must be registered with the FSC and resident in Belize, and their responsibilities cannot be delegated.
Where must capital be held?
In Belize, in Belize-dollar assets, deposited with an authorised bank or custodian before the registration is granted, and maintained at all times.
Can a foreign company apply?
The applicant must be a company incorporated under Belize law.
How do I apply?
Online through the FSC’s LicenSys platform, using the prescribed application form with policies, business plan, personal questionnaires and supporting documents.
How long does it take?
The FSC publishes no service standard. Typical projects take three to six months including local set-up and capital deposit.
What reports are due?
Quarterly interim financial statements within 30 days, audited annual statements within 120 days of year-end, regulatory capital calculations and AML/CFT questionnaires through LicenSys.
Can I outsource operations?
Material functions can be outsourced only to a licensed managing agent, with notice to the FSC.
When is renewal?
Registrations are renewed through LicenSys before 31 December each year.
Belize or Seychelles?
Both are recognised offshore licences with real substance rules. Belize requires a resident CEO and capital held locally; Seychelles requires a resident director and two resident officers. Compare them in our comparison table.
Official sources
Primary sources we rely on. Rules change; always confirm current requirements with the authority.
- Financial Services Commission Belize: securities belizefsc.org.bz
- Securities Industry Act 2021 (Act No. 46 of 2021) belizefsc.org.bz
- Securities Industry Regulations 2023 (S.I. 139 of 2023) belizefsc.org.bz
- SIA commencement order 2023 (S.I. 138 of 2023) belizefsc.org.bz
- FSC Belize: categories of securities activities belizefsc.org.bz
- FSC Belize: LicenSys public search licensys.belizefsc.org.bz
- FSC Belize: warning notices belizefsc.org.bz
Similar jurisdictions
Vanuatu
Vanuatu Financial Services Commission (VFSC)
Financial Dealers Licence (Principal), classes A–D
View profileSeychelles
Financial Services Authority (FSA) Seychelles
Securities Dealer Licence (plus Securities Dealer’s Representative licences)
View profileBritish Virgin Islands
Financial Services Commission (FSC), British Virgin Islands
Investment Business Licence, Category 1 (Dealing in Investments)
View profileNot sure which licence is right for you?
Tell us your business model and target markets. We will shortlist jurisdictions and send a fixed, itemised proposal.