{"id":1057,"date":"2017-05-24T05:01:17","date_gmt":"2017-05-24T05:01:17","guid":{"rendered":"http:\/\/fiubelize.org\/?page_id=1057"},"modified":"2023-12-12T18:31:28","modified_gmt":"2023-12-12T18:31:28","slug":"dnfbp-faq","status":"publish","type":"page","link":"https:\/\/fiubelize.org\/?page_id=1057","title":{"rendered":"DNFBP FAQ"},"content":{"rendered":"<p><b><u>Designated Non-Financial Businesses &amp; Professionals FIU Registration Guide<\/u><\/b><span lang=\"EN-BZ\"><\/span><\/p>\n<p>This guide applies to reporting entities who are classified as a <b>Designated Non-Financial Business and Professions (DNFPBs)<\/b> as defined under Part 1 2. (1) of the Money Laundering &amp; Terrorism (Prevention) (Designated Non-Financial Businesses and Professions) Regulations, 2014 read along with the Third Schedule of the Money Laundering &amp; Terrorism (Prevention) Act (MLTPA) as revised 2020. These guidelines explain the registration requirements under the DNFBP Regulations, 2014.<span lang=\"EN-BZ\"><\/span><\/p>\n<p><b>How does application for registration work?<\/b><span lang=\"EN-BZ\"><\/span><\/p>\n<p>Effective February 7, 2014, all relevant businesses as defined in the DNFBP Regulations, 2014 are required to apply for registration with the Financial Intelligence Unit (FIU) (See section 2.1). This means that it is illegal for such reporting entity to operate without being registered with the FIU and the entity is subject to criminal liability.<span lang=\"EN-BZ\"><\/span><\/p>\n<p>The applicant must provide information on all significant owners, partners, shareholders and directors in relation to the reporting entity. This means that a person, whether alone or acting together with one or more associates, must provide valid identifying information, as well as other specific business information, in an application form for registration with the FIU as follows:<span lang=\"EN-BZ\"><\/span><\/p>\n<ul>\n<li><span lang=\"EN-BZ\"> <\/span>owns, whether legally or beneficially, 10% or greater interest in the reporting entity or its parent;<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>has the power, directly or indirectly, to exercise or control 10% or more of the voting rights in the reporting entity, or its parent; or<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>has the power to appoint or remove one or more directors of the reporting entity.<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>The FIU may ask for clarification of information before accepting the registration. Once the FIU has accepted your registration, it is valid for a period of <b>one year<\/b>, at which time it <b>must be renewed.<\/b><span lang=\"EN-BZ\"><\/span><\/li>\n<\/ul>\n<p>There is a <b>non-refundable application fee of One Hundred dollars (BZD$100.00)<\/b> for all applications. In addition to the application fee, upon acceptance of your application, an annual registration fee is payable to the FIU. (See regulation 21. (1) (c) and Registration fee schedule below)<\/p>\n<p><b><u>Who Has To Apply For Registration?<\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>In accordance with section 85B (1) of the MLTPA, a person who carries on, or intends to carry on, a relevant business in or from within Belize for which the FIU is specified as the supervisory authority under the Third Schedule of the MLTPA, shall apply for registration with the FIU for that type of relevant business as described below:<\/p>\n<ul>\n<li><span lang=\"EN-BZ\"> <\/span>Casinos, Gambling Houses, Internet Casino or Online Gaming<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Real estate agents \u2013 when they are involved in transactions <b>for their client<\/b> concerning the buying and selling of real estate.<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Dealers in precious metals and precious stones.<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Vehicle dealers.<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Lawyers, notaries, other independent legal professionals, accountants, auditors, and tax advisers, when they prepare for or carry out transactions for their client concerning the following activities:<span lang=\"EN-BZ\"><\/span>\n<ul>\n<li><span lang=\"EN-BZ\"> <\/span>buying and selling of real estate;<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>managing of client money, securities or other assets;<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>management of bank, savings or securities accounts;<\/li>\n<li><span lang=\"EN-BZ\"><\/span><span lang=\"EN-BZ\"> <\/span>organization of contributions for the creation, operation or management of companies; or<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>creation, operation or management of legal persons or arrangements and buying and selling of business entities.<\/li>\n<\/ul>\n<\/li>\n<li><span lang=\"EN-BZ\"><\/span><span lang=\"EN-BZ\"> <\/span>A business operating in a free zone area.<span lang=\"EN-BZ\"><\/span><\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol><\/ol>\n<\/li>\n<\/ol>\n<ol><\/ol>\n<p><b><u>Who Are Not Deemed Fit and Proper To Apply For Registration?<\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>The following individuals and entities are not eligible to register with the FIU:<br \/>\nAny person that is believed to:<\/p>\n<ul>\n<li><span lang=\"EN-BZ\"> <\/span><span lang=\"EN-BZ\">An individual or entity listed on the Belize Consolidated Sanctions List. <\/span><span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>have carried out, attempted to carry out, participated in or facilitated a terrorist activity; or<br \/>\nbe controlled, directly or indirectly, by acting on behalf of, at the direction of, or in association with any individual or entity conducting any of the above activities.<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>An individual or entity convicted of, or is believed to have knowingly carried out, attempted to carry out, participated in or facilitated a terrorist activity, have knowingly acted on behalf of, at the direction of, or in association with such an individual or entity.<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>An individual or entity convicted of a money laundering or a terrorist financing offence.<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Any of the applicant\u2019s directors, partners, management, owners, or their associates, who have committed an offence which constitutes serious crime.<span lang=\"EN-BZ\"><\/span><\/li>\n<\/ul>\n<p><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<p><b><u>\u00a0<\/u><\/b><b><u>The Application For Registration Process<\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>Effective February 7, 2014, if you intend to start a new business and you are classified as a DNFBP, you are required to be registered with the FIU <b>within 14 days.<\/b>\u00a0Once registered, you are required to keep your registration information up-to-date. <b>You must submit to the FIU within 14 days, any newly obtained registration information or any changes to your registration information.<\/b><\/p>\n<p><b>Registration Steps<\/b><\/p>\n<ul start=\"2\">\n<li>Completing and submitting the Application for Registration Form<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>You must properly fill out the application for registration\u00a0<span lang=\"EN-BZ\"><a href=\"http:\/\/fiubelize.org\/wp-content\/uploads\/2016\/06\/Form-R101-Revised-March-2016.pdf\" target=\"_blank\" rel=\"noopener\"><span lang=\"EN-US\">Form R101<\/span><\/a><\/span>which is available on the FIU\u2019s website at\u00a0<span lang=\"EN-BZ\"><a href=\"http:\/\/www.fiubelize.org\/\"><span lang=\"EN-US\">fiubelize.org<\/span><\/a><\/span>.<span lang=\"EN-BZ\"><\/span><\/li>\n<\/ul>\n<p>Once you have completed the application for registration\u00a0<span lang=\"EN-BZ\"><a href=\"http:\/\/fiubelize.org\/wp-content\/uploads\/2016\/06\/Form-R101-Revised-March-2016.pdf\" target=\"_blank\" rel=\"noopener\"><span lang=\"EN-US\">Form R101<\/span><\/a><\/span>, keep a copy for your records and submit the completed form to the FIU along with the following:<span lang=\"EN-BZ\"><\/span><\/p>\n<ol start=\"4\">\n<li><span lang=\"EN-BZ\"> <\/span>A copy of your deposit ticket showing the non-refundable application fee and initial registration fee.\u00a0Payment can be deposited to Financial Intelligence Unit\u2019s account #9131366 at any of your local Heritage Bank branches country wide.<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Copies of valid business license, trade license, dealer\u2019s license, gaming license or other license to operate, where applicable<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Copy of certificate of incorporation or business name registration certificate, where applicable<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Copy of Articles of Incorporation\/By-laws or Articles of Association <i>(stamped &amp; signed by the Belize Companies Registry)<\/i> <i><u>if entity is incorporated<\/u><\/i><span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span><span lang=\"EN-BZ\">Copy of <\/span>Detailed Extract <i><u>if entity has been incorporated for more than 12 months<\/u><\/i><span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Copy of valid identification <i>(passport or social security card<\/i>) for all applicant\u2019s directors, MLCO, shareholders\/beneficial owners<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Sector specific documents:<span lang=\"EN-BZ\"><\/span>\n<ol>\n<li><span lang=\"EN-BZ\"> <\/span><b>Businesses Operating in a Free Zone<\/b> \u2013 copy of Compliance Certificate, copy of operations contract (Fourth Schedule)<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span><b>Attorneys and Auditors<\/b> \u2013 Copy of valid practicing certificate<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span><b>Vehicle Dealer <\/b><span lang=\"EN-BZ\">\u2013 General Dealers\u2019 License or Trade License <\/span><span lang=\"EN-BZ\"><\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ol start=\"11\" type=\"1\">\n<li>Forward the properly completed, original registration\u00a0<span lang=\"EN-BZ\"><a href=\"http:\/\/fiubelize.org\/wp-content\/uploads\/2016\/06\/Form-R101-Revised-March-2016.pdf\" target=\"_blank\" rel=\"noopener\"><span lang=\"EN-US\">Form R101<\/span><\/a><\/span>\u00a0along with other required documents to <span lang=\"EN-BZ\"><a href=\"mailto:compliance@fiubelize.org\"><span lang=\"EN-US\">compliance@fiubelize.org<\/span><\/a><\/span> or deliver to: <span lang=\"EN-BZ\"><\/span><\/li>\n<\/ol>\n<p><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<p align=\"center\">Financial Intelligence Unit<br \/>\nCompliance Department<br \/>\nConey Drive Plaza<br \/>\n4998 Coney Drive<br \/>\nP.O. Box 2197<br \/>\nBelize City, Belize C.A.<\/p>\n<p align=\"center\"><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<ul type=\"disc\">\n<li>\u00a0If you require further information or assistance, email\u00a0<span lang=\"EN-BZ\"><a href=\"mailto:compliance@fiubelize.org\"><span lang=\"EN-US\">compliance@fiubelize.org<\/span><\/a><\/span>.<span lang=\"EN-BZ\"><\/span><\/li>\n<\/ul>\n<p><b>\u00a0<\/b><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b><u>What Should I Expect After I Submit my Application?<\/u><\/b><span lang=\"EN-BZ\"><\/span><\/p>\n<p>The FIU will process your form within fourteen (14) business days and will do either of the following:<span lang=\"EN-BZ\"><\/span><\/p>\n<ul type=\"disc\">\n<li>issue a notice confirming that your application for registration has been accepted.<span lang=\"EN-BZ\"><\/span><\/li>\n<li>request clarification of the information provided on your form or additional information; or<span lang=\"EN-BZ\"><\/span><\/li>\n<li>deny the application for registration.<span lang=\"EN-BZ\"><\/span><\/li>\n<\/ul>\n<p>In each case, the FIU will notify you accordingly.<span lang=\"EN-BZ\"><\/span><\/p>\n<p><b><u>Confirmation of Application for Registration<\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>Upon approval of registration, the FIU will provide you or your entity with a confirmation letter which will indicate the expiration date of your registration along with your registration number. The FIU will post your registration number on its public website. This includes information about your entity and your registration number.<span lang=\"EN-BZ\"><\/span><\/p>\n<p><b>\u00a0<u>Clarification Request<\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>The FIU can request clarification concerning the information you submitted about your business. Such clarification can be requested when:<\/p>\n<ul>\n<li>processing your application for initial registration<\/li>\n<li>after your application for registration has been approved<\/li>\n<li>During the renewal of registration information process [see below]<\/li>\n<\/ul>\n<p>If the FIU requires clarifying information, you will receive a clarification request detailing what is required, and you are expected to respond within 15 business days and by providing us with the information requested.<\/p>\n<p><b>\u00a0<u>Renewal of Registration Information <\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>You are required to renew your registration information annually upon the anniversary of your registration. You may renew your registration with the FIU, 90 days prior to your registration annual anniversary by submitting a properly completed application for registration\u00a0<span lang=\"EN-BZ\"><a href=\"http:\/\/fiubelize.org\/wp-content\/uploads\/2016\/06\/Form-R101-Revised-March-2016.pdf\" target=\"_blank\" rel=\"noopener\"><span lang=\"EN-US\">Form R101<\/span><\/a><\/span>\u00a0to the FIU along with the following documents:<\/p>\n<p><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<ul>\n<li><span lang=\"EN-BZ\"> <\/span>a copy of your deposit ticket showing the renewal\u00a0fee.\u00a0Payment can be deposited to Financial Intelligence Unit\u2019s account #9131366,\u00a0at any of your local Heritage Bank branches country wide.<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>copies of valid license: trade license, dealer\u2019s license, gaming license or other license to operate, where applicable<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>copy of recent certificate of good standing along with annual listing of shareholders and directors (<i>if entity is incorporated.)<\/i><span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>copy of valid identification <i>(passport or social security card)<\/i> for all applicant\u2019s directors, senior officers, MLCO, shareholders\/beneficial owners.<span lang=\"EN-BZ\"><\/span><\/li>\n<\/ul>\n<p><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<p><b><u>Notification of Changes or Newly Obtained Information <\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>Where there is new or changed information, you are required to complete registration form (R101) select option D \u2013 update registration information under Part I and provide a brief narrative to indicating the reason for the change:<span lang=\"EN-BZ\"><\/span><\/p>\n<ol>\n<li><span lang=\"EN-BZ\"> <\/span>Any newly obtained registration information or any changes in directors, partners, shareholders, beneficial owner, MLCO, whether a director, or MLCO ceases to hold office or the appointment of a new director or MLCO; and<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Any change in its significant owners\/beneficial owners, whether a person becomes a significant owner or ceases to be a significant owner.<span lang=\"EN-BZ\"><\/span><\/li>\n<\/ol>\n<p><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<p>You are required to forward the completed form to FIU within a 14-day period of changes made to registration information.<\/p>\n<p><b><u>Cessation of Business Operations<\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>Whether you are an individual, a corporation or other type of entity as defined under the DNFBP Regulations, 2014, if you at any time cease business operations, you are required to notify the FIU within\u00a0fourteen\u00a014 days after the day on which you cease business operations.<span lang=\"EN-BZ\"><\/span><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b><u>Penalties<\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>Any of the actions related to your registration or intended registration, as listed below, may lead to administrative sanctions against you in accordance with Section 17 of the MLTPA and the DNFBP Regulations:<u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<ul>\n<li><span lang=\"EN-BZ\"> <\/span>Knowingly making a false or misleading statement<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Knowingly providing false or misleading information to the FIU<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Failure to register your business with the FIU when required to do so<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Failure to submit information as required in the registration form<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Failure to submit any change in the information provided with your application for registration<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Failure to provide additional documents and information as required by the FIU to determine the application<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Failure to notify the FIU within 14 days of any change in\u2014<span lang=\"EN-BZ\"><\/span>\n<ul>\n<li><span lang=\"EN-BZ\"> <\/span>your directors, shareholders or MLCO<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>significant owners (as defined in the DNFBP Regulations)<span lang=\"EN-BZ\"><\/span><\/li>\n<li><span lang=\"EN-BZ\"> <\/span>information required to be registered under regulation 4 of the DNFBP Regulations,<span lang=\"EN-BZ\"><\/span><\/li>\n<\/ul>\n<\/li>\n<li><span lang=\"EN-BZ\"> <\/span>Failure to notify the FIU as required that you ceased your activities for which you are registered within 14 days after the day on which you cease business operations.<span lang=\"EN-BZ\"><\/span><\/li>\n<\/ul>\n<p><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-BZ\">Notice: Providing false or misleading information, representation, or submitting any documents or return to the FIU is an offense under Regulation 22 of the MLTP DNFBP Regulations 2014. This offense is liable, upon summary conviction, to a fine not exceeding $50,000, imprisonment for a term of up to 2 years, or both.<\/span><br \/>\nFailure to register when you are required to do so may lead to criminal liability. You may be liable on summary conviction to a fine of not less than Ten Thousand dollars (BZ$10,000.00) and not more than Fifty Thousand dollars (BZ$50,000.00) or to imprisonment for a period of twelve (12) months or to both.<\/p>\n<p>Under the DNFBP Regulations, the FIU may also impose an administrative penalty of not less than Five Thousand (BZ$5,000.00) and not more than Fifty Thousand (BZ$50,000.00) for carrying on a relevant business for which a person or entity is not registered.<span lang=\"EN-BZ\"><\/span><\/p>\n<p><b>\u00a0<\/b><\/p>\n<p><b><u>Annual Registration fees<\/u><\/b><\/p>\n<p>The following are the current fees in respect of the registration of DNFBPs:<span lang=\"EN-BZ\"><\/span><\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"565\">\n<tbody>\n<tr>\n<td><span lang=\"EN-BZ\">Nature of Business\/DNFBPs<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<td><span lang=\"EN-BZ\">Initial Registration<br \/>\nand<br \/>\nApplication Fee<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<td><span lang=\"EN-BZ\">Annual<br \/>\nRenewal Fee<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<\/tr>\n<tr>\n<td><span lang=\"EN-BZ\">Casinos<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$600.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$600.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span lang=\"EN-BZ\">Gambling houses and online gaming<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$350.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$300.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span lang=\"EN-BZ\">Real estate agents (when they engage in the buying<br \/>\nand selling of real estate on behalf of their clients<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$250.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$200.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span lang=\"EN-BZ\">Dealers in precious metals and precious stones<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$250.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$150.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span lang=\"EN-BZ\">Lawyers, notaries, other independent legal<br \/>\nprofessionals, accountants, auditors, tax advisors<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$250.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$200.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span lang=\"EN-BZ\">Vehicle dealers<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$200.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$150.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span lang=\"EN-BZ\">A business in a free zone area<\/span><span lang=\"EN-BZ\"><\/span><\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$300.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<td>\n<p align=\"center\"><span lang=\"EN-BZ\">$300.00<\/span><span lang=\"EN-BZ\"><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<p><span lang=\"EN-BZ\">\u00a0<\/span><\/p>\n<p>Please note that the initial registration and application fee includes a <b>$100.00 non-refundable fee.<\/b><span lang=\"EN-BZ\"><\/span><\/p>\n<p>Please make the payment of your application and registration fee to the account listed below:<span lang=\"EN-BZ\"><\/span><\/p>\n<p>Account: Financial Intelligence Unit<br \/>\nBank: Heritage Bank<br \/>\nAccount #: 9131366<span lang=\"EN-BZ\"><\/span><\/p>\n<p><b><u>Compliance Officer<\/u><\/b><u><span lang=\"EN-BZ\"><\/span><\/u><\/p>\n<p>You will also need to appoint a Money Laundering Compliance Officer for your entity. The attached Form (A-201) needs to be completed and submitted, along with the appointed compliance officer supporting documentation, for approval by the FIU. The individual you appoint will be responsible for the implementation of your compliance regime. Your compliance officer should be at the management level and have the authority and the resources necessary to discharge his or her responsibilities effectively. Depending on your type of business, your compliance officer should report, on a regular basis, to the board of directors or senior management, or to the owner or chief operator.<span lang=\"EN-BZ\"><\/span><\/p>\n<p>If you are a small business, the appointed officer could be a senior manager or the owner or operator of the business. When operating as a sole trader you are deemed the money laundering compliance officer, however, you may choose to appoint another individual to help you implement a compliance regime.<\/p>\n<p>Note: The sole trader who is deemed the Money laundering Compliance Officer is ultimately responsible for the implementation of a compliance regime of the entity. <span lang=\"EN-BZ\"><\/span><\/p>\n<p>In the case of a large business, the compliance officer should be from a senior level and have direct access to senior management and the board of directors. Further, as a good governance practice, the appointed compliance officer in a large business should not be directly involved in the receipt, transfer or payment of funds.<span lang=\"EN-BZ\"><\/span><\/p>\n<p>For consistency and ongoing attention to the compliance regime, your appointed compliance officer may choose to delegate certain duties to other employees. For example, the officer may delegate an individual in a local office or branch to ensure that compliance procedures are properly implemented at that location. However, where such a delegation is made, the compliance officer retains responsibility for the implementation of the compliance regime and is the direct liaison with FIU.<\/p>\n<p><b><u>How To Contact The FIU<\/u><\/b><span lang=\"EN-BZ\"><\/span><\/p>\n<p>For further information regarding the registration process and other obligations for reporting entities, please visit the FIU\u2019s website\u00a0<span lang=\"EN-BZ\"><a href=\"http:\/\/www.fiubelize.org\/\"><span lang=\"EN-US\">www.fiubelize.org<\/span><\/a><\/span>\u00a0or contact us:<span lang=\"EN-BZ\"><\/span><\/p>\n<p>Financial Intelligence Unit<br \/>\n<b>Compliance Department<\/b><br \/>\nConey Drive Plaza<br \/>\n4998 Coney Drive<br \/>\nP.O. Box 2197<br \/>\nBelize City, Belize<span lang=\"EN-BZ\"><\/span><\/p>\n<p>Telephone:<br \/>\n223-2729\/0596<br \/>\nEmail:\u00a0<span lang=\"EN-BZ\"><a href=\"mailto:compliance@fiubelize.org\"><span lang=\"EN-US\">compliance@fiubelize.org<\/span><\/a><\/span><span lang=\"EN-BZ\"><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Designated Non-Financial Businesses &amp; Professionals FIU Registration Guide This guide applies to reporting entities who are classified as a Designated Non-Financial Business and Professions (DNFPBs) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-1057","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/fiubelize.org\/index.php?rest_route=\/wp\/v2\/pages\/1057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fiubelize.org\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/fiubelize.org\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/fiubelize.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fiubelize.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1057"}],"version-history":[{"count":21,"href":"https:\/\/fiubelize.org\/index.php?rest_route=\/wp\/v2\/pages\/1057\/revisions"}],"predecessor-version":[{"id":2127,"href":"https:\/\/fiubelize.org\/index.php?rest_route=\/wp\/v2\/pages\/1057\/revisions\/2127"}],"wp:attachment":[{"href":"https:\/\/fiubelize.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}