What is the International Financial Services Commission?

The International Financial Services Commission, also known as the “IFSC” or the “Commission” was established by the enactment of the International Financial Services Commission Act (IFSCA) on 3rd May 1999 and brought into force in 2000. The establishment of the IFSC allows Belize to comply with international standards in the structure and administration of its IFSC regulatory and supervisory body.
The IFSC is a premier regulatory body for the offshore industry in Belize and as the regulatory authority, the IFSC’s responsibility under the IFSC Act, is to promote, protect and enhance Belize as an international financial services center and to regulate the provision of international financial services.

The IFSC is currently headed by the Financial Secretary of Belize as Chairman, and has a Director General of the Commission who is the Chief Executive Officer of the Commission. The Director General is the ex-officio Deputy Chairman of the Commission.

IFSC’S Mandate and Core Functions:

The mandate includes:
• Promoting and developing Belize as a center for international financial services;
• Protecting and enhancing the reputation of Belize as an offshore financial center;
• Providing appropriate supervision and regulation of international financial services;
• Formulating policies and providing advice and assistance to the government on the regulation of such services;
• Collecting, storing and disseminating reliable and timely information to interested parties on changes and new trends in these services.

What we do

We Regulate

All international financial services and managing services activities conducted in and from within Belize to ensure compliance with the relevant laws of Belize and to ensure a highly compliant environment where healthy businesses can thrive and contribute to the economic and social development of the Belize and its people. Our remit includes fiduciary business, investment business, insolvency services, insurance business, company management, and company registration. We also have a mandate to promote accountability, transparency and good governance.

We Enforce

All international financial services regulatory and registry legislation, including all related subsidiary legislation and directives issued by the IFSC under appropriate principal legislation.

We Monitor

The international financial services activity to safeguard the public against any illegal and/or unauthorized financial services business operating in and from within the Belize. We also serve to ensure that Belize’s reputation is protected by preventing or detecting illegal or unauthorized conduct of international financial services.

We Facilitate

The provision of legal and administrative assistance to overseas competent authorities, regulatory and law enforcement agencies pursuant to Belize laws.

We Educate and Inform

The general public and industry practitioners on matters relating to international financial services business, including the regulatory regime.

We Collaborate and Cooperate

With other public and private sector stakeholders to foster the development of an international financial services environment that will remain competitive and attractive for legitimate business.

We Advise

The Government on matters relevant to the international financial services industry with a view to ensuring that Belize’s Acts and regulations and the scope of supervision are compatible with international standards and appropriate for the sustained competitiveness of the Belize international financial services industry.

We Review

All international financial services and related enforcement legislation and policies with a view to keeping attuned to domestic and international developments affecting the international financial services industry so as to continually strengthen the scope of services that we provide.