Belize is an amazingly unique and diverse country on the western end of the Caribbean Sea in the heart of Central America. Those seeking to explore retirement options are advised to visit the entire country and talk to people everywhere to learn about the country and culture. Belize is experiencing a wave of prosperity greater unlike any before in its 300-year history. The population is increasing. Every city, town and village is growing and electric power, telephones, Internet, water, roads, air services—all are expanding.
The Qualified Retired Persons Incentive Act was passed by the Belize House of Representatives in 1999 and is operated by the Belize Tourism Board. The QRP program is aimed at attracting retirees to Belize. In the first few years of the program it attracted considerable interest and several applications.
Individuals age 45 or more qualify for the program. The QRP benefits the spouse and children under the age of 18 or older if attending university. For the prospective retiree that can show proof of the required monthly income the QRP program offers approved residency and tax-free entry of the retiree’s household goods and motor vehicle. Other items that can be imported duty free include marine vessels and small aircraft. The saving grace of the QRP is that it is well-suited for retirees and expats who may want to import high-value items to Belize – this is one angle that makes the QRP attractive as import duties are a real fact of life in Belize. If you are interested in the Belize Qualified Retired Person program you can get more information and apply through the Belize Qualified Retired Person Application Form. Time spent in Belize as a QRP does not count towards time you need to be in Belize to acquire Permanent Residency or Nationality.
Under the terms of the Qualified Retirement Law if you are 45 years old and can deposit $2,000 US a month in a Belize Bank you can qualify as a Retiree under the law. All income from outside Belize is tax free. You may not work in Belize if you are a retiree but you can own a business, hire us and watch us work. So come on down and enjoy all the joys of living in Belize.
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