Choice Bank

Choice Bank(Belize)

Offshore Banking solutions can assist you with international company, corporate bank account, and Personal Bank account with free e-banking facilities for managing your daily business banking needs, saving purposes with Choice Bank in Belize.  The bank offers secure banking from the comfort of your home. Access funds globally through your own card and save money on global FX.

About this Product

Package Services

Corporate Bank Account opening fees with E-Banking facilities: $550

Personal Bank Account opening fees with E-Banking facilities: $500

Bank Products and Services

Prepaid MasterCard: $100

Personal Prepaid MaterCard: $100

Shipping Cost: It will be charged extra on actual basis.

Important information about Choice Bank

About Choice Bank

Choice Bank allows international business with non-resident personal and corporation clientele.

The Bank in Belize is a leading financial center in Central America.

The Bank offers financial solutions for international companies and individuals.

 

The Bank may also deal with resident companies operating in the Export Processing and Commercial Free Zones.

Choice Bank Accounts are not subject to local taxes or exchange restrictions and funds in foreign currencies are transferred freely with no conversion to Belize dollars required.

The Central Bank of Belize monitors and regulates Choice Bank’s business, strict adherence to capital adequacy and liquidity levels are required, ensuring compliance with internationally accepted best practices in global banking.

Having an international account is an essential step toward financial diversification.  Choice Bank focuses on offering you an exceptional banking experience, while providing access to a global suite of products.

Facilities offered by Choice Bank
  • Personal and Corporate accounts
  • Full Internet banking
  • Phone banking
  • Prepaid Master Card in USD
  • Accounts in GBP, USD, EUR, CHF, CAD
  • Merchant services
  • Co-branded Cards
  • The approximate timeframe for account allocation is 7 to 10 days after the original documents have been received by the bank
Bank Tariffs/ charges
  • Choice Bank can be considered as a medium-cost bank with respect to incoming/outgoing payments and account maintenance.
  • The initial deposit and minimum balance at all times of USD 5,000 will be required for Choice Economy Account. For opening of Choice Premier Account the initial deposit and minimum account balance will be USD 25,000. 
  • The bank charge for incoming payments tiered pricing fees - minimum USD 30.00. 
  • The outgoing wire transfer charge is USD 100.00.
  • The monthly account maintenance fee for Choice Economy account is USD 25.00 and for Choice Premier Account is USD 12.50.
  • There is no charge for internet banking. 
  • Bank tariffs/ charges may be changed anytime at the sole discretion of the bank, we therefore suggest contacting us or visiting the bank’s website for updated details on specific fees and charges.
  • Our professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit or minimum balance.

Documents requirements

Corporate Bank Account
  • For the Company:

A set of legalized company documents consisting of: 

  • Certificate of Incorporation
  • Memorandum and Articles of Associations
  • Documents confirming the appointment of company directors and secretary (if any)
  • document confirming the location of the registered office
  • Share Certificate(s)
  • Certificate of Good Standing if the company is more than 12 months old
  • Copy of the Corporate Structure, identifying the ultimate beneficial owner(s)
  • Valid License (if applicable)
For each corporate officer (Where the company directors or shareholders are legal entities), please provide:

A set of legalized company documents consisting of: 

  • Copy of constitutional documents (Certificate of Incorporation, Articles, etc.).
  • Copy of Corporate Register (which shall include Register of Shareholders, Directors and Secretary).
  • Copy of the Corporate Structure.
  • Certificate of Good Standing.
For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:
  • Notarized copy of valid passport. 
  • The passport must be signed and signature must match the signature in the application form. The photograph must be clear and of good quality.
  • Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
  • Original or notarized copy of Banker's reference letter, dated within 3 months
  • Power of Attorney (where applicable)
  • Personal CV
Personal Bank Account
  • Notarized copy of valid passport. The passport must be signed and signature must match the signature in the application form. The photograph must be clear and of good quality.
  • Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
  • 2 (two) Bank reference letters, dated within 3 months. The bank reference letter must be on official bank's letterhead. Ask your banks to include the date of letter issuance, the date of account opening, the type of account held, average balance, satisfactory relationship, signature of bank's senior personnel.
  • If the account signatory conducts business activities with only one bank, a Character (Professional) Reference Letter from a recognized lawyer or accountant may be considered. The Character Reference Letter must include: date of letter, length and type of relationship, nature of business, comments on Client's character, and signature of professional.
  • Personal CV
Note:
  • Documents that are not in English must be accompanied by a certified translation. 
  • Shipping of banking kits to your destination requires an extra charge and will be automatically added to the invoice during checkout. Shipping costs for international courier services are set automatically and can vary from USD 75 to USD 95. The fees depend on the jurisdiction where the bank is based as well as your destination country.
Certification Requirements:

A certified document copy is a copy (often a photocopy) of a primary document that has on it an endorsement or certificates that it is a true copy of the primary document. All certifications should meet the below standards:

  • Document certifications for individuals should be dated within 90 days of submission
  • Document should be stamped or sealed by certifying agent
  • Must contain the name, contact details, and signature of certifying party
  • Contains language similar to: “This is a true copy of the Original”
  • Any signatures and stamps should be clear, legible and in dark ink so that all relevant detail is visible on the scanned document
Account opening timeframe
  • The approximate timeframe for account allocation is 7 to 10 days after the original documents have been received by the bank.
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