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#253383 - 20 June 18 5:37 am - America/Chicago New procedures with Central Bank
jdlongwell Offline
Junior Member

Registered: 06 February 18
Posts: 1
I understand that new procedures have recently been implemented on land purchases by foreign nationals. The process now requires approval from the Belize Central Bank before the transaction is submitted to the Land Office for final approval. Does anyone have insights about why this new procedure was put in place and what it means in terms of the cost and timing of property purchases in Belize? Thx! JD

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#253386 - 25 June 18 6:42 pm - America/Chicago Re: New procedures with Central Bank [Re: jdlongwell]
Oliver Offline
Full Member
*

Registered: 11 October 11
Posts: 95
Loc: Monmouth County, New Jersey, U...
Oh Boy another step, my guess more time to close..... UGH!
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#253391 - 02 July 18 2:36 pm - America/Chicago Re: New procedures with Central Bank [Re: jdlongwell]
jstewartpa Offline

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Registered: 17 May 12
Posts: 998
Loc: Pennsylvania and Hopkins
There has always been an approval process from Central Bank to make sure cash transfers meet accepted international banking laws. It's part of the normal process and usually takes anywhere from 1 to 2 weeks to approve large transfers. Use a reputable closing agent with an approved escrow account and it will go smoothly.
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#253394 - 03 July 18 9:19 am - America/Chicago Re: New procedures with Central Bank [Re: jdlongwell]
britinbelize Online   content

**

Registered: 01 June 14
Posts: 284
Loc: Bay area CA + Belmopan
Don't think this is particularly new Just possibly bringing it back to public attention. It is just part of the anti laundering rules that they agreed comply with for US banking rules. Central bank is always supposed to have a way to track of large sums of foreign money going through its Banking system.
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We came to the states for our last adventure before we die but as we didn't die yet, there is time for another adventure this time back to Belize.

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