The International Financial Services Commission Act
To establish an International Financial Services Commission to promote, protect and enhance Belize as an offshore financial services centre and to regulate and supervise the provision of offshore financial services within Belize. The IFSC shall comprise of four members from the private sector, the Governor of the Central Bank (or his representative), the Financial Secretary (or his representative) and the Director and Deputy-Director of the IFSC (who shall be ex-officio members).
The International Insurance Act
To provide for the regulation of persons establishing and carrying on international insurance business from or within Belize – including captive insurance.
Minimum Paid-Up Capitalisation Requirements:
Long-Term Business – US$100,000
(including life, endowment, annuities, etc)
General Business – US$100,000
(including captive, marine, engineering, aviation,
transportation, motor, property liability, pecuniary
loss, creditor, guarantor, personal, etc)
Reinsurance Business – US$50,000
Captive Insurance – US$25,000
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