You can remove the dress without needing to cut the belt.
The figure's limbs detach very easily as I recall and that is required to remove the dress without altering it.
Once the limbs are off the dress can be fed up through the belt.
So in order to replace the dress on one of these figures I would have to disassemble the figure itself?
I don’t have one yet, but was in the market. Prices are a little crazy now. Not sure how I feel about taking the whole hypothetical figure apart to put on a nicer dress.