APPENDIX TABLESBelize WT/TPR/S/238 
 Page 99 
 
 
Table AI.1  
Merchandise exports and re-exports  by groups of products, 2002-08  
(US$ million and per cent) 
Description 2002 2003 2004 2005 2006 2007 2008 
  (US$ million) 
Total 164 203 211 208 274 267 295 
  (% of total) 
Total primary products 22.4 86.2 86.5 86.2 89.5 91.1 98.3 
   Agriculture 22.4 85.9 86.3 85.8 73.0 63.9 58.0 
      Food 21.5 84.7 85.5 85.1 72.8 63.4 57.3 
         0591 Orange juice 1.6 16.5 13.7 21.3 15.9 19.6 15.7 
         0611 Sugars, beet/cane, raw, solid, no added flavour/colour 18.8 17.6 19.3 16.6 18.2 16.5 12.1 
         0573 Bananas (including plantains) , fresh or dried 0.0 13.1 12.4 10.3 9.2 7.8 11.3 
         0361 Crustaceans, fr ozen 0.0 27.2 25.2 20.3 15.5 7.6 7.3 
         0579 Fruit, fresh, dried, n.e.s. 0.0 4.1 5.4 6.5 5.7 4.9 3.8 
         0592 Grapefruit juice 0.0 3.2 6.2 4.7 4.2 3.1 3.6 
         0542 Leguminous vegetables, dr ied, shelled 0.0 1.3 1.1 2.1 1.0 1.2 1.4 
         0342 Fish, frozen (excluding fillet s and minced fish) 0.0 0.0 0.0 0.0 0.1 0.1 0.7 
         0615 Molasses 0.8 0.6 0.4 0.7 0.8 1.0 0.5 
         0984 Sauce, mixed seasonings and condiments 0.1 0.2 0.3 0.3 0.3 0.3 0.3 
         0599 Juices, other than citrus 0.0 0.0 0.1 0.1 0.3 0.2 0.1 
         0571 Oranges, mandarins, citrus hybrids, fresh or dried 0.0 0.6 0.7 0.8 0.5 0.5 0.1 
         0449 Other maize, un milled 0.0 0.0 0.0 0.1 0.0 0.0 0.1 
         0345 Fish fillets and fish meat, fresh or chilled;  fish meat frozen 0.0 0.0 0.2 0. 3 0.2 0.1 0.1 
      Agricultural raw material 0.9 1.1 0.8 0.7 0.3 0.5 0.7 
         2484 Wood of non-coniferous, sawn of a thickness > 6 mm 0.6 0.8 0.6 0.5 0.2 0.3 0.5 
         2482 Wood of coniferous, sawn of a thickness > 6 mm 0.0 0.0 0.0 0.0 0.0 0.0 0.1 
         2631 Cotton (other than linters), not carded or combed 0.1 0.1 0.0 0.0 0.0 0.1 0.1 
   Mining 0.0 0.3 0.2 0.4 16.4 27.2 40.3 
      Ores and other minerals 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
      Non-ferrous metals 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
      Fuels 0.0 0.3 0.2 0.4 16.4 27.2 40.3 
         3330 Crude oils of petroleum and bituminous minerals 0.0 0.0 0.0 0.0 16.2 26.9 40.1 
Manufactures 0.7 13.4 13.2 13.5 3.4 6.8 1.4 
   Iron and steel 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
   Chemicals 0.1 0.3 1.1 2.7 1.1 0.8 0.7 
         5513 Essential oils;  resinoids;  concen trates of essential oils 0.1 0.1 0.8 2.1 1.0 0.6 0.7 
         5531 Perfumes and toilet waters 0.0 0.1 0.0 0.1 0.0 0.0 0.0 
         5429 Medicaments, n.e.s. 0.0 0.0 0.1 0.1 0.0 0.0 0.0 
   Other semi-manufactures 0.2 0.6 1.4 1.4 1.1 0.7 0.6 
         6424 Paper and paperboard, cut to size or shape, n.e.s. 0.1 0.4 0.5 0.5 0.4 0.3 0.4 
         6353 Builders joinery/carpentry wood 0.0 0.0 0.0 0.1 0.0 0.0 0.1 
         6649 Glass, n.e.s. 0.0 0.0 0.0 0.0 0.0 0.1 0.1 
   Machinery and transport equipment 0.3 4.7 1.8 0.7 0.6 0.8 0.0 
      Power generating machines 0.0 2.3 0.0 0.0 0.0 0.0 0.0 
      Other non-electrical machinery 0.0 1.0 0.6 0.2 0.2 0.2 0.0 
         Agricultural machinery and tractors 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
      Office machines & telecommunica tion equipment 0.0 0.3 0.0 0.0 0.0 0.0 0.0 
      Other electrical machines 0.0 0.1 0.0 0.0 0.3 0.1 0.0 
      Automotive products 0.0 0.5 0.2 0.3 0.0 0.2 0.0 
         7812 Motor vehicles for the transport of persons, n.e.s. 0.0 0.2 0.2 0.2 0.0 0.2 0.0 
         7821 Goods vehicles 0.0 0.2 0.0 0.1 0.0 0.0 0.0 
      Other transport equipment 0.3 0.6 0.9 0.2 0.1 0.2 0.0 
   Textiles 0.0 0.0 0.0 0.0 0. 0 0.0 0.0 
   Clothing 0.0 7.6 8.7 8.4 0.0 3.5 0.1 
         8431 Overcoats, car coats, capes, cloaks, anoraks (including ski 
 jackets), wind-cheaters, wind-jackets and similar articles (other than 
 those of heading 843.2) 0.0 6.6 8.7 8.1 0.0 3.5 0.1 
   Other consumer goods 0.1 0.2 0.2 0.2 0.5 1.0 0.0 
Other 76.9 0.4 0.3 0.3 7.2 2.2 0.3 
         9310 Special transactions and commodities not classified by type 76. 9 0.7 0.5 0.3 7.2 2.5 0.5 
 
Source : UNSD, Comtrade data base (SITC Rev.3). WT/TPR/S/238 Trade Policy Review 
Page 100 
 
 
Table AI.2  
Merchandise imports by groups of products, 2002-08  
(US$ million and per cent) 
Description 2002 2003 2004 2005 2006 2007 2008 
  (US$ million) 
Total 527 552 514 439 660 684 837 
  (% of total) 
Total primary products 23.4 24.7 27.9 39.7 29.4 30.3 29.9 
   Agriculture 11.9 12.3 12.3 16.9 12.9 13.8 13.3 
      Food 11.4 11.9 11.9 16.1 12.2 13.0 12.7 
         1124 Spirits 0.2 0.2 0.3 1.0 1.7 1.5 1.5 
         0411 Durum wheat, un milled 0.6 0.8 0.7 1.3 0.6 0.6 1.1 
         0989 Food preparations, n.e.s. 1.3 1.1 1.3 1.8 1.1 1.2 1.1 
         0819 Food waste, animal feeds n.e.s. 1.1 1.4 1.2 1.4 1.0 1.0 0.9 
         0222 Milk concentrated or sweetened 1.3 1.3 1.5 1.7 1.0 1.1 0.9 
         0910 Margarine, etc. 0.3 0.3 0.4 0.4 0.3 0.4 0.6 
         1222 Cigarettes containi ng tobacco 0.1 0.0 0.0 0.2 0.6 0.5 0.5 
         0813 Oil-cake, oilseed residues 0.2 0.2 0.2 0.5 0.3 0.5 0.5 
      Agricultural raw material 0.5 0.4 0.4 0.8 0.7 0.8 0.6 
         2482 Wood of coniferous, sawn of a thickness > 6 mm 0.0 0.0 0.1 0.2 0.1 0.2 0.2 
   Mining 11.5 12.4 15.5 22.8 16.6 16.5 16.6 
      Ores and other minerals 0.3 0.2 0.3 0.2 0.2 0.2 0.2 
      Non-ferrous metals 0.2 0.2 0.2 0.3 0.3 0.3 0.2 
         6842 Aluminium and aluminium alloys, worked 0.2 0.1 0.2 0.2 0.2 0.2 0.2 
      Fuels 11.0 12.0 15.0 22.3 16.1 16.0 16.2 
Manufactures 47.5 46.8 45.5 59.8 43.4 44.8 47.6 
   Iron and steel 1.8 1.9 2.7 2.7 2.6 2.6 3.5 
         6744 Flat-rolled iron/steel products, clad, etc., n.e.s., ≥600 mm 0.3 0.4 0.5 0.6 0.4 0.5 0.6 
         6791 Tubes, pipes, hollow profiles , seamless, iron/steel 0.1 0.1 0.1 0.2 0.2 0.2 0.5 
         6768 Angles, shapes, etc., of iron/steel 0.1 0.2 0.2 0.2 0.1 0.2 0.3 
   Chemicals 8.1 7.5 7.4 10.1 7.1 7.5 7.1 
         5429 Medicaments, n.e.s. 1.1 1.1 1.0 1.2 0.8 0.9 0.8 
         5334 Paints and varnishes;  plastic s in solution;  etc. 0.8 0.7 0.6 0.9 0.6 0.6 0.6 
         5542 Surface-active agents (e xcl. soap) 0.5 0.5 0.6 0.7 0. 6 0.6 0.5 
   Other semi-manufactures 9.3 8.8 9.6 12.0 8.8 8.4 9.5 
         6612 Portland cement and similar hydraulic cements 1.2 1.1 1.4 1.5 1.0 1.0 1.1 
         6421 Packing containers, of paper, paperboa rd, cellulose wadding 
 etc. 0.4 0.8 0.7 1.1 0.7 0.2 0.9 
         6911 Iron or steel structures, tubes and the like, for use in 
 structures 1.1 0.6 0.5 0.5 0.4 0.4 0.8 
   Machinery and transport equipment 19.8 18.5 17.1 22.8 16.6 18.4 21.0 
      Power generating machines 0.3 1.4 0.3 0.5 0.4 0.5 0.5 
         7165 Generating sets 0.2 0.8 0.2 0.3 0.2 0.3 0.3 
      Other non-electrical machinery 4.8 3.8 3.5 4.8 4.2 4.8 5.6 
         7232 Mechanical shovels, etc ., self-propelled 0.2 0.3 0.1 0.4 0.3 0.5 0.4 
         7283 Other mineral working machines 0.1 0.1 0.0 0.1 0.2 0.1 0.4 
      Office machines & telecommunica tion equipment 3.2 3.0 4.0 6.2 2.5 2.4 4.3 
         7649 Parts and accessories for appa ratus of division 76 0.1 0.4 0.4 0.2 0.2 0.2 1.2 
         7641 Electrical apparatus for line telephony/telegraphy 0.6 0.4 0.9 1.4 0.4 0.2 1.1 
      Other electrical machines 2.5 3.0 2.7 3.4 2.8 2.9 3.3 
         7731 Insulated wire, cable etc.;  optical fibre cables 0.4 0.4 0.6 0.7 0.8 0.8 0.9 
         7711 Transformers, electrical 0.2 0.3 0.1 0.3 0.2 0.2 0.7 
      Automotive products 5.5 5.3 4.7 5.3 4.5 5.4 4.9 
         7821 Goods vehicles 2.3 2.0 1.8 1.8 1.5 2.3 2.0 
         7812 Motor vehicles for the transport of persons, n.e.s. 2.0 2.2 1.8 2.0 1.6 1.8 1.7 
      Other transport equipment 3.5 2.0 2.0 2.5 2.1 2.3 2.4 
         7923 Aeroplanes and other aircraft, mechanically-propelled (other 
 than helicopters), of an unlad en weight exceeding 2,000 kg but 
 not exceeding 15,000 kg 1.2 0.3 0.0 0.0 0.2 0.3 0.7 
Table AI.2 (cont'd) Belize WT/TPR/S/238 
 Page 101 
 
 
Description 2002 2003 2004 2005 2006 2007 2008 
   Other consumer goods 7.1 8.5 7.1 10.3 6.6 6.8 5.3 
         8931 Plastics containers, stoppe rs, lids, etc. 0.9 1.1 1.2 1.6 1.1 1.2 1.0 
         8921 Printed books, pamphlets, maps, etc.  (excl. ad. material) 0.4 2.7 0.5 0.5 0.4 0.7 0.4 
Other 29.1 28.6 26.6 0.4 27.2 24.9 22.5 
         9310 Special transactions and commodities not classified by type 40. 0 40.4 41.6 0.3 27.1 40.5 38.5 
 
Source : UNSD, Comtrade data base (SITC Rev.3). WT/TPR/S/238 Trade Policy Review 
Page 102 
 
 
Table AI.3  
Merchandise exports and re-exports by trading partner, 2002-08  
(US$ million and per cent) 
Description 2002 2003 2004 2005 2006 2007 2008 
  (US$ million) 
Total 164 203 211 208 274 267 295 
  (% of total) 
  America 45.8 69.0 69.7 70.7 67.9 66.6 71.6 
    United States 36.9 56.3 55.2 53.9 42.0 26.8 45.0 
    Other America 8.9 12.6 14.5 16.8 25.9 39.8 26.6 
      Canada 0.7 0.2 0.2 0.1 0.1 0.1 0.4 
      Costa Rica 0.0 0.0 0.0 0.0 7.8 11.8 16.8 
      Trinidad and Tobago 1.8 3.0 4.8 5.4 2.9 4.0 2.6 
      Mexico 0.8 1.5 1.6 4.4 3.2 2.5 1.6 
      Jamaica 3.3 4.7 5.2 4.6 4.1 2.1 1.4 
      Dominican Republic 0.0 0.0 0.0 0.0 0.7 2.0 0.9 
      El Salvador 0.0 0.3 0.1 0.0 0.9 1.1 0.8 
      Guatemala 0.1 0.5 0.4 0.7 0.8 0.4 0.8 
      Barbados 1.2 0.6 0.5 0.6 0.5 0.7 0.6 
      Guyana 0.3 0.3 0.4 0.3 0.5 0.5 0.5 
      Panama 0.0 0.1 0.0 0.0 3.1 14.3 0.0 
  Europe 31.5 28.3 29.1 27.0 30.8 31.9 26.8 
    EU(27) 31.5 28.3 29.1 27.0 30.8 31.9 26.8 
      United Kingdom 22.5 23.1 19.0 19.9 16.1 18.0 19.6 
      Netherlands 8.5 3.1 3.6 3.2 5.8 7.8 3.0 
      Portugal 0.0 0.0 0.9 0.0 2.9 2.9 2.4 
      Belgium 0.0 0.0 0.1 0.1 0.1 0.0 1.2 
      Spain 0.4 0.3 0.1 1.3 2.0 0.6 0.4 
    EFTA 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
    Other Europe 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
  Commonwealth of Independent States  (CIS) 0.0 0.4 0.0 0.0 0.0 0.0 0.0 
      Azerbaijan 0.0 0.4 0.0 0.0 0.0 0.0 0.0 
  Africa 0.0 0.0 0.0 0.0 0.0 0.1 0.0 
      Kenya 0.0 0.0 0.0 0.0 0.0 0.1 0.0 
  Middle East 0.1 0.1 0.1 0.4 0.1 0.3 0.0 
      Saudi Arabia 0.0 0.0 0.0 0.1 0.0 0.2 0.0 
      United Arab Emirates 0.0 0.1 0.0 0.1 0.1 0.1 0.0 
  Asia 5.5 2.2 1.0 1.9 1.1 0.8 1.5 
    China 0.0 0.0 0.0 0.0 0.1 0.0 0.0 
    Japan 5.4 2.1 0.8 1.8 1.0 0.7 1.5 
    Six East Asian Traders 0.1 0.1 0.1 0.0 0.0 0.0 0.0 
      Chinese Taipei 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
      Singapore 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
      Hong Kong, China 0.0 0.0 0.1 0.0 0.0 0.0 0.0 
      Thailand 0.1 0.0 0.0 0.0 0.0 0.0 0.0 
    Other Asia 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
  Other 17.1 0.0 0.0 0.0 0.0 0.4 0.0 
      Areas n.e.s 17.1 0.0 0.0 0.0 0.0 0.4 0.0 
 
Source : UNSD, Comtrade data base (SITC Rev.3). Belize WT/TPR/S/238 
 Page 103 
 
 
Table AI.4  
Merchandise imports by trading partner, 2002-08  
(US$ million and per cent) 
Description 2002 2003 2004 2005 2006 2007 2008 
  (US$ million) 
Total 527 552 514 439 660 684 837 
  (% of total) 
  America 61.9 52.4 60.7 86.0 84.3 81.5 81.0 
    United States 33.4 33.2 29.4 40.3 38.8 33.9 34.2 
    Other America 28.5 19.1 31.3 45.7 45.5 47.6 46.8 
      Canada 1.4 1.2 1.2 1.4 1.1 1.0 0.8 
      Netherlands Antilles 0.0 0.1 7.9 0. 1 10.7 0.8 11.9 
      Mexico 7.1 6.9 9.5 11.6 9.2 9.6 9.4 
      Panama 1.0 0.9 0.8 1.6 9.6 9.8 8.9 
      Guatemala 3.4 2.9 4.1 6.6 6.5 6.9 6.9 
      Honduras 0.6 1.0 0.9 1.1 1.1 1.1 1.9 
      El Salvador 1.0 1.0 1.5 2.0 1.8 1.4 1.7 
      Venezuela 0.2 0.2 0.1 0.0 0.2 1.0 1.6 
      Trinidad and Tobago 1.2 1.5 1.2 1.4 0.8 1.1 0.8 
      Costa Rica 0.5 0.5 0.8 1.1 1.0 0.8 0.7 
      Jamaica 0.8 0.7 0.7 1.0 0.8 0.5 0.6 
      Cuba 9.0 0.0 0.0 14.8 0.0 11.4 0.0 
  Europe 6.0 4.9 5.2 7.5 7.0 6.8 6.0 
    EU(27) 5.8 4.8 5.0 7.1 6.5 5.8 5.4 
      Netherlands 0.9 0.9 1.4 1.6 1.9 2.1 1.9 
      United Kingdom 2.0 2.3 2.2 1.9 1.4 1.5 1.4 
      Denmark 0.4 0.4 0.4 0.5 0.3 0.4 0.4 
      Italy 0.2 0.2 0.2 0.3 0.3 0.3 0.3 
      France 0.2 0.1 0.1 0.2 0.1 0.1 0.3 
    EFTA 0.1 0.1 0.2 0.4 0.5 1.0 0.6 
      Switzerland 0.1 0.1 0.2 0.4 0.4 0.7 0.5 
    Other Europe 0.0 0.0 0.0 0.0 0.1 0.0 0.0 
      Turkey 0.0 0.0 0.0 0.0 0.1 0.0 0.0 
  Commonwealth of Independent States  (CIS) 0.2 0.1 0.0 0.0 0.0 0.0 0.0 
  Africa 0.0 10.1 3.1 0.0 0.0 0.0 0.2 
      Namibia 0.0 10.1 3.1 0.0 0.0 0.0 0.0 
  Middle East 0.1 0.1 0.1 0.3 0.1 0.1 0.1 
      Israel 0.1 0.1 0.1 0.3 0.1 0.1 0.0 
  Asia 4.1 4.2 4.5 6.2 8.5 11.5 12.6 
    China 0.8 0.9 1.3 2.2 4.2 6.6 8.1 
    Japan 1.6 1.8 1.5 1.9 1.5 1.6 1.1 
    Six East Asian Traders 1.3 1.3 1.4 1.7 2.4 2.9 2.8 
      Thailand 0.2 0.3 0.4 0.2 0.2 0.4 0.7 
      Chinese Taipei 0.4 0.3 0.3 0.3 0.9 0.7 0.6 
      Hong Kong, China 0.1 0.1 0.2 0.2 0.6 0.9 0.6 
      Korea, Republic of 0.5 0.4 0.4 0.6 0.5 0.7 0.6 
      Malaysia 0.1 0.1 0.1 0.2 0.1 0.1 0.1 
      Singapore 0.0 0.0 0.1 0.1 0.0 0.1 0.1 
    Other Asia 0.4 0.3 0.2 0.4 0.4 0.5 0.6 
      India 0.1 0.1 0.1 0.1 0.2 0.2 0.2 
      Australia 0.2 0.0 0.0 0.0 0.0 0.1 0.1 
      Indonesia 0.0 0.1 0.0 0.1 0.1 0.0 0.1 
  Other 27.7 28.2 26.3 0.0 0.0 0.0 0.0 
 
Source : UNSD, Comtrade data base (SITC Rev.3). WT/TPR/S/238 Trade Policy Review 
Page 104 
 
 
Table AIII.1 
Products subject to price controls, July 2010  
 Wholesale  Retail  
Goods in Schedule I 
(Imported goods) Maximum percentage that may be added to the 
landed costa of imported goods Maximum percentage that may be added 
to the wholesale price 
Cheese (with the exception of refrigerated cheese) 12.5% 20% 
Lard 7.5% 15% 
Margarine (with the exception 
of refrigerated margarine) 10% 20% 
Powdered milk 7.5% 15% 
Sardine, mackerel, herring 12.5% 20% 
Cooking oil 7.5% 15% 
Coffee 12.5% 20% 
Medical preparations and 
prescription drugs 10% 25% (with a few exceptions, for which the 
maximum is 15%) 
 Maximum price in BZ$ Maximum price in BZ$ 
Riceb 65 per 100 lb 0.69 per lb 
Red kidney beans 115 per 100 lb 1.25 per lb  in Belize City;  1.28 per lb in 
other parts of the country 
Kerosenec Not regulated 6.21 per gallon 
Dieselc Not regulated 7.81 per gallon 
Gasolinec   
 Regular Not regulated 8.74 per gallon 
 Premium Not regulated 9.07 per gallon 
Butane (domestic) gasc Not regulated Prices vary depending on the district  
Goods in Schedule II (local 
produce)   
Red kidney beans 90 per 100 lb 1.10 per lb 
King fish, queen fish, calipaver, 
alvacore, deep water, snapper 
(deep water, red, black, mutton, 
and reef), cabillod Not regulated 1.5 per lb 
June fish, grouper, amberjack, 
rock fish, yellow tail, silk 
snapper, mackerel, barracudad Not regulated 1.35 per lb 
Sugar   
 Brown Not regulated 0.39 per lb 
 Plantation white Not regulated 0.45 per lb 
Bread (not sliced or wrapped)e Not regulated 1 per 16 oz. loafe 
Bottled beer 38 per carton of 24 ( 10 oz. pint) bottles 2.25 per 10 oz. pint (cold) in Belize City;  
2 in other areas 
Flour   
 Soft wheat flour ("La 
 Gitana") 48 per sack (1-24 sacks) 
47 per sack (25 sacks or more) 0.50 per lb 
 Hard wheat flour ("Bebe 
 Agua") 42 per sack (1-24 sacks) 
51 per sack (25 sacks or more) 0.50 per lb  
 
a The Regulations define landed cost as the sum of the c.i.f. value of imports, the applicable customs duties and taxes, cartag e, and 
bank and port charges. 
b Price applies to domestic and foreign products. c Subject to changes dependent on the world market. 
d An additional BZ$0.25 per lb may be added to the price of sa lt water fish, conch, shrimps, and lobster sold in inland areas;  for 
clean-gutted fish sold anywhere , BZ$0.25 per lb. may be added. 
e According to the Supplies Control (Prices) Regulations, no person can charge more than the maxi mum retail price specified in 
the Regulations' Schedule, irrespective of the loaf's weight. 
 
Source: WTO Secretariat, based on the Supplies Co ntrol (Prices) Regulations, as amended. Belize WT/TPR/S/238 
 Page 105 
 
 
Table AIV.1 
Selected features of the Acts governing the banking and insurance sectors in Belize 
Banks and Financial Institutions Act Cap. 263  
Fees and charges:   application fee of US$5000, minimum annual licence fee of US$12,500 (Statutory 
Instrument No. 4 (1996).  
Capital requirements:   local and foreign banks are required to maintain minimum start-up capital in Belize 
of US$1.5 million.  All foreign banks, in addition,  are required to have world-wide fully paid-up and 
unimpaired capital of no less than US$25million.  The Central Bank has the right to require greater amounts 
of capital if it deems prudent. 
Deposit and other liability reserves:   amended March 2010.  All banks must maintain on account with the 
Central Bank a minimum balance, which on average should be equivalent to at least 5% of its average deposit 
liabilities represented by demand deposits, plus at leas t 3% of average deposit liabilities not represented by 
demand deposits.  Cash reserve requirement of 8.5% of average total deposit liabilities (decreased from 10% 
in 2010). 
Liquid-to-liability requirements:   23% of banks' average total deposit liabilities, of which Government 
Treasury Bills are to be held in a proportion of no t less than 6.5% of average total deposit liabilities. 
Limits on unsecured lending to one person:  15% of fully paid-up and unimpaired capital and reserves for 
local banks;  15% assigned capital, unimpaired capital, and reserves for foreign banks.  
International Banking Act, Cap. 267  
Capital requirements:   unrestricted International Banking Licen ce requires minimum capitalization of US$3 
million for a local bank and US$25 million for a foreign bank.  The Restricted International Banking Licence 
requires minimum capitalization of US$1 million for a local bank and US$15 million for a foreign bank. 
Fees and charges:   annual fee for restricted licence is US$15, 000;  annual fee for unrestricted licence is 
US$20,000. 
Tax and other benefits:   tax exemptions on profits, dividends, and stamp duty.  No restrictions on currency 
and foreign exchange.  For international banks the net open foreign exchange position in currencies other 
than the U.S. dollar may not exceed 10% (15% for some) of the fully paid-up and unimpaired capital. 
Confidentiality:   a confidentiality clause protects customers' identities, the only exceptions are through 
voluntary disclosure, a court order or by order to the Central Bank from a foreign regulatory agency. 
New Insurance Act No. 11 (2004)  
Fees and charges (for insurance companies and as sociations of underwriters) :  application fee of BZ$500;   
initial registration fee (first year) of BZ$5,000;  annual registration fee of BZ$5,000 in addition to 2.5% of 
gross amount of annual premiums received in respect of  business transacted in Belize during the previous 
financial year. 
Statutory fund of assets:   all companies involved in insurance business must establish a statutory fund of 
assets equal to its liabilities and contingencies.   
Capital requirements:  locally incorporated companies, BZ$1 million;  foreign companies, BZ$3 million;  
existing companies offering motor vehicle insurance, BZ$2.25 million;  and companies offering only vehicle 
insurance, BZ$250,000. 
Statutory deposit:   companies must make a statutory deposit of 15% of their net premium income.  For 
subsequent years, companies are only required to de posit or withdraw the amount necessary to meet the 
required 15% of their net premium income from the previous year.  
Minimum required statutory deposit:   BZ$100,000 for companies formed in Belize, and BZ$300,000 for 
other companies. 
Other:   at least 80% of the company liability must be held in trust in assets held in Belize.   
Source:   WTO document WT/TPR/S/134, 14 June 2004. 
 
 
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