A New Life in Belize

You may have visited Belize, but have you ever thought of retiring here?

It is a lot more straightforward than you might think to pick up sticks and settle in a country of superb natural beauty with a population who will welcome you with open arms. The Belize Qualified Retired Persons Incentives Program (QRP) established in 2009 facilitates just that.

Controlled and run by the Belize Tourism Board, it encourages suitably qualified persons to spend longer periods in the country without needing to renew tourist visas on a monthly basis.

If you are aged 45 years or older and are a national of the U.S.A., Canada, United Kingdom, Europe, British Commonwealth countries, and can show that you have a minimum annual income of USD$24,000 you are eligible to apply. Belizeans living abroad who are 45 and older can also qualify if they are returning to live in Belize.

Suitably qualified persons may include a spouse, common-law partner, dependents aged 18 years or younger, and college students who are still considered dependents up to the age of 23 years old.

Check out the benefits of the QRP Program!

Taxation

In Belize, however, there are exemptions on all taxes derived from foreign income. During the first year of residence there is additional exemption from Import Duties and General Sales Tax on all imports of personal and household goods, a motor vehicle, boat and even a plane should you be lucky enough to own one!

Banking

QRP’s are considered to be non-residents for banking purposes which means they can establish US Dollar bank accounts with local and offshore banks in Belize.

Go Back to Work!

While one of the conditions of the QRP program is that no member of the program may have gainful employment within Belize, they are permitted to engage in such employment, so long as the majority of any business activity takes place outside the jurisdiction of Belize and is conducted exclusively with nonresidents of Belize.

Travel Freedom

A member of the program and his family are free to move across borders without the restriction of having a visitor visa or stamp in their passports. On re-entry into Belize the member shows his or her membership card to the immigration officer who will then annotate the entry stamp with the date of expiry of the card – which is December 31st each year. The only restriction is that the member and or his dependents are required to spend a minimum of one complete month in Belize during the year of validity of the “card”.

The sweetest part of the deal is that you can live the life you’ve always wanted, with a fresh start and a better view.

Written by: Glen Wilson, Director of Offshore Solutions Group