New FSC Rules Tighten Oversight of Nominee Shareholders and Directors

Belize’s Financial Services Commission (FSC) has announced that new regulations governing nominee shareholders and nominee directors have officially come into force, tightening oversight of how companies are owned and controlled in Belize.  In simple terms, a shareholder is a person or entity that owns shares in a company, while a director is someone appointed to manage and make decisions on behalf of that company. A nominee shareholder or nominee director is a person whose name appears on company records, but who is acting on behalf of the true or “beneficial” owner. These arrangements are legal but can be misused if they are not properly disclosed.  Under the Financial Services Commission (Nominee Shareholders and Directors) Regulations, 2025, nominee services are now a regulated activity. This means that anyone providing nominee shareholder or nominee director services must first be formally authorised and licensed by the FSC. Only registered agents who receive written approval from the Commission are allowed to offer these services.  The new rules also strengthen the duties of registered agents by requiring better record-keeping, clearer disclosure of nominee relationships, and stricter standards of honesty and accountability. Companies or individuals who fail to comply may face administrative fines and penalties, including for providing nominee services without authorisation or failing to properly disclose nominee arrangements.  According to the FSC, the regulations are designed to improve transparency and corporate governance in Belize and to bring the country in line with international best practices, including global anti-money laundering standards.