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with an Offshore Bank in Belize
PURPOSE
A Merchant Account is set up for an offshore company wanting to sell their products and/or services outside of Belize. Customer’s credit card payments are processed via their website and funds are credited to the merchant’s bank account in Belize.
REQUIREMENTS
Note that separate fees apply for the above services.
DOCUMENTS REQUIRED
- Merchant Questionnaire (provided by the bank for pre-approval)
Once the bank has pre-approved the application, the below will be required:
- Merchant Internet Services Agreement
(provided by the bank once application has been pre-approved)
- Merchant Information Sheet
- E-commerce Merchant Set Up Form
- Copy of Merchant’s Website along with Ownership Confirmation *
- Copy of most recent Financial Statement for each Beneficial Owner
- Merchant Business Plan containing the following: (See requirements for Business Plan)
- Executive Summary
- Company Background Profile
- Directors/Owners Information
- Description of Product or Services
- Long-term Strategic Plan
- Target Market/Competitors |
- Marketing Promotion & Advertising
- Lists of Assets
- Projected Profit & Loss (3-5years)
- Project Cash Flow (3-5 years)
* Must be certified
- Country of Operation |
* WEBSITE REQUIREMENTS
- Merchant’s business trade name & corresponding registered domain name
- Merchant’s Company Information and Location
- Complete description of Products or Services
- Commitment to process orders and send email confirmation
- Statement advising cardholders to retain copy of Transaction record
- Refund/Return & Cancellation Policies
- Delivery Policies (if any restrictions to countries)
- Privacy Policies and Terms & Conditions
- Customer Service Contact Information
- Country of Operation
- Transaction Currency - US Dollars
- Display of appropriate Card Acceptance
Note that your webmaster will need to ensure your website is equipped with the above.
COST AND FEES
| Processing of Offshore Merchant License Application |
US $ 2,200.00 |
| Administrative Expense |
US $ 200.00 |
TOTAL DUE |
US $ 2,400.00 |
To begin the process a deposit of US $750.00 is required.
BANK FEES
Once the Merchant is approved the bank will charge the below fees:
| • Administrative Set-up Fee (one-time fee – 1st month) |
US $ 250.00 per merchant |
• Monthly Maintenance Fee
(Bank will deduct this automatically from your account) |
US $ 200.00 per merchant |
| • Transaction Fee (sales, credits, decline transactions) |
US $ .50 per transaction |
| • Chargeback Fee |
US $ 15.00 per chargeback |
| • Online Access Merchant Reporting (upon request) |
US $ 65.00 per month |
OPTIONAL SERVICES
Dev. Jan/09
Back to Offshore Services
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