Retiring in Belize
Belize Residency and Qualified Retirement Person Program
The belizean government implemented their Qualified Retirement Person (QRP) program to attract and encourage expatriates to make Belize their home. A summary of this program is described below. A full description of this program can be found on the Belize Tourism Board’s website under "Retire in Belize" section at belizeretirement.org.
Age and Income Requirements
Persons forty-five years and older can qualify for the program. A person who qualifies can also include his or her dependents in the program. Dependents include spouses and children under the age of eighteen. However, it can include a person up to the age of twenty-three if enrolled in a university.
To be designated a Qualified Retired Person under the program, applicants must receive a monthly income of not less than US $2,000 through a pension or annuity that has been generated outside of Belize. All persons who have been designated a Qualified Retired Person shall be entitled, on first entering Belize, to import his or her personal effects and an approved means of transportation free of all import duties and taxes.
A Qualified Retired Person shall be exempt from the payment of all taxes and duties on all income or receipts which accrue to him or her from a source outside of Belize whether that income is generated from work performed or from an investment.
Residency Requirements
Normally, any individual seeking permanent residency must have legally resided here continuously for one year. This requirement is waived for retirees with a regular source of income, and professional or skilled people and investors with more than US$ 25,000 in hard currency to invest. These individuals can apply for a permanent residency card immediately upon arrival. This application can be made only at immigration headquarters in Belmopan, and usually takes two to three months to process. During this time, you will need to renew your visa, AND obtain a "Temporary Self-Employment" work permit. For retirees, proof of financial independence or pension income is required in lieu of a work permit.
