Stephanie Beatriz Bischoff Alvizuri was born in Neuquén, Neuquén Province, Argentina, the daughter of a Colombian father and a Bolivian mother. She also has German ancestry. She arrived in the United States at the age of three with her parents and a younger sister.
She grew up in Webster, Texas, outside Houston, and attended Clear Brook High School. The family was "pretty poor," which informed Beatriz's choice in choosing choir in school, as it was an elective that didn't cost money, unlike art class or band.
The first day, however, the teacher discouraged Beatriz from continuing, so Beatriz signed up for speech and debate. It was there that she had the opportunity to appear in plays. Her first role was that of the show's villain, and after a classmate mistook her for someone else for the entirety of the show, she realized that she had the ability to transform into someone else through acting. This set her on the path of the dramatic arts.
Beatriz attended the all-women's Stephens College in Missouri. She graduated in 2002. She then moved to New York City to pursue acting. She has lived in Los Angeles since 2010.