Does Belize offer retirement incentives?
The Qualified Retired Persons Incentive Act is designed to attract more retires to Belize and is being implemented by the Belize Tourism Board. The program offers the benefits of official residency and tax-free entry of the retiree's household goods and a personal vehicle (including boat or light airplane). Persons retiring in Belize under the program are exempt from the payment of all Belize taxes on all income or receipts from a source outside of Belize whether that income is generated from work performed or from an investment. This program eliminates some of the bureaucratic delays built into other programs and the approval process is efficient. A person who qualifies can also include his or her dependents in the program. Applicants must be 45 years of older and will need to present the following to the Belize Tourism Board:
- Copy of birth certificate for applicant and each dependent.
- Marriage certificate (if applicant is also applying for a spouse).
- Notarized copy of complete passport of applicant and all dependents.
- Copy of police record from last place of residence (completed within one month of application).
- Copy of medical exam. Inexpensive medical exams are available locally
- An official statement from a bank or financial institution certifying that the applicant is the recipient of a pension or annuity (including U.S. Social Security) of a minimum of US$1,000 per month or that the applicant's investments will generate a minimum of US$2,000 per month. The two types of income can be combined.
- Application fees apply
