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Over 100 employees fired from Golden Princess in Corozal Free Zone. News Five has received credible information that the casino known as the Golden Princess, located near the northern border, has closed its doors. Those reports circulated this morning, along with news that over one hundred employees had been let go. Located in the Free Zone between the borders of Belize and Mexico, Princess Hotel Corozal is the perfect spot for travelers keen to stay in a place with an exciting nightlife scene. Those looking to keep active will be kept plenty busy at Princess Hotel Corozal, as they will enjoy quick access to an ever-expanding array of recreational options. Mrplay.com is a brand owned by Marketplay Princess Casino Corozal Free Zone LTD, a company incorporated under the laws of Malta. The games on this website are powered and operated by Aspire Global International LTD.

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The Corozal Free Zone is managed by a Board of Directors. This entity is responsible for policy making, decision making, execution of projects and overseeing all activities within the zone.

“As defined by the Commercial Free Zone Act Chapter 278 of the Laws of Belize, a “Commercial Free Zone business” or “CFZ business” means a private or public party which has been granted approval to operate such a business under the Commercial Free Zone Act and any regulations and which conducts a trade or business, including but not limited to manufacturing, commercial, office, warehousing, professional or other activity, primarily within any Commercial Free Zone. The First Schedule of the Money Laundering and Terrorism Prevention Act, 2008 has been amended to include a business operating in a free zone area.” FIU Belize Website

The CFZ has made drastic changes to meet international regulations and standards. All free zone entities have to register with the Financial Intelligence Unit, which will monitor the financial international services sector such as money laundering and other financial crime invariably. This has been implemented since February 2014. All businesses will be accountable to this unit, which will audit any company at any given time. CFZ businesses have to report Import, Sales and Financial audits annually.

ICT also plays a major role in the increased control of all the activities of the CFZ.These activities may include: movement of goods, control of imports and sales and security. It outputs detailed reports needed for decision making.