Exemption from stamp duty

(1) Subject to sub-section (2), bills of exchange and promissory notes payable on demand and any other document of the same nature executed by an international bank in connection with international banking business, whether within or outside of Belize, shall be exempt from stamp duty. (2) For the avoidance of doubt, it is clarified that sub-section (1) does not apply to an instrument relating to a transfer, mortgage of assignment of property of any kind situated in Belize, whether real or personal, tangible or intangible, corporeal or incorporeal, including any interest in land in Belize or any shares in a company incorporated under the Companies Act. CAP. 250.