We have compiled a list of countries that currently have capital controls. However, notice that Belize have a two system economy. The local banks and the local economy with capital
controls,and the international banks with their international clients with no capital controls.
To some extent this is “more or less” the case with some other countries as well, like for example Cuba and Malaysia.
Great Blue Hole in Belize, a paradise for foreingers. Phone courtesy of Wiki Commons
Here are the countries with capital controls in alphabetic order:
Argentina
Brazil
Belize
China
Colombia
Cyprus
Cuba
Ecuador (1
Egypt
Iceland
India
Indonesia
Iran
Malaysia
Mexico (2
Russia
South Africa
South Korea
Taiwan
Ukraine
Venezuela
Description:
1.) Ecuador taxes you 5% on every wire, check, ATM or visa/master card transaction you make outside of Ecuador.
2.) Mexico have a limit on cash US Dollar transactions. However, Mexico is mainly a cash society.
Let us know if you are aware of updates to the countries mentioned above or other countries that should be added to the list.