We review and draft financing documents and advise on Belize tax and regulatory matters. We assist with questions arising in local and cross-border transactions, including regulatory matters involving the offshore sector where relevant to the instruction.
How we can help
Facility agreements
Consider conditions to draw down funds, reporting obligations, restrictions during the term, events of default and the process for repayment or amendment. These terms can affect day-to-day operations even when payments are current.
Guarantees and security
Review guarantees, mortgages and charges in the context of the transaction. The legal review can address the person or entity providing security, the asset involved, signing authority and the steps needed to record the interest where applicable.
Tax advice and representation
Discuss the Belize legal issue behind an assessment, transaction or compliance question. Tax matters may require coordination with your accountant or another specialist, especially where several jurisdictions or reporting systems are involved.
Regulatory questions
Identify the activity being proposed, who will carry it out, where customers are located and which regulator may have responsibility. Where a licence or registration is relevant, discuss the scope of the permission and what needs to be checked before implementation.
Which authority is relevant?
The Central Bank of Belize publishes exchange-control guidance. The Financial Services Commission regulates financial service providers within its remit and offers tools to check provider status. The Belize Tax Service administers Belize’s tax laws. The authority involved depends on the issue, and a single transaction may bring more than one into the discussion.
If a transaction involves an overseas lender, investor, guarantor or payment, raise that early. The parties’ residence status, the currency and the nature of the transaction can change which questions need answering before closing.
How a transaction may fit together
Suppose a Belize business is borrowing to acquire property. The purchase terms, facility agreement, security documents and company approvals may each involve different parties and deadlines. The order matters. A lender may want title or signing documents before releasing funds, while the seller may expect payment by a fixed date. Counsel can identify the documents and decisions that need to be coordinated. An accountant or other specialist can address questions that sit outside the legal instruction.
If the matter concerns a proposed regulated business, begin by describing what will actually happen. An intermediary holding client money, for instance, raises different questions from a business providing information or introducing customers. The name given to the activity is only one part of the analysis.
Frequently asked questions
My lender has issued a term sheet. Is this a useful time to contact the firm?
Yes. The proposed terms can identify the main legal questions before long-form documents arrive. In particular, raise any personal guarantee, required collateral and restrictions that may affect your business.
Can you advise on a tax notice?
The firm’s practice includes Belize tax advice and representation. Call the office promptly if you have a notice with a response date. Keep the original notice and ask the office how to share it securely.
Will the firm obtain a licence or provide regulated services?
The firm can discuss the legal and regulatory questions raised by the proposed activity. Where an application, licence, regulated agent or other provider is needed, confirm responsibilities and the scope of work during the consultation.
What documents may be useful for an initial review?
The financing summary, relevant agreements, description of any collateral, and the general residence or location of the parties can help orient the discussion. A regulator’s notice may also be relevant. Ask how to share it with the office.