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Retirement in Belize


Come over to Belize and enjoy your retirement where you can relax and continue the adventure in our tropical paradise. You can also chose the "Retired Person Incentive Programm", but with this program you will have restrictions and limitations for doing Business in Belize.
GtB Enjoy your retirement on the lovely Caribbean ocean in Belize
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You can visit the mainland cities, towns, and interior and meet friendly people, see historic sights, ancient Maya cities, or go to the cayes, thus enjoying the sea, beaches, and coral reef. The wonders of Belize are yours to choose. All what you need to know, is right here on the Guide to Belize.

Retired Persons Incentive Program

Anyone 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.

1. Qualified Retired Persons
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.

Income from Pension pr other Source

2. Certification
I) When a company grants a pension, that company has to prove that it has been in operation for at least 20 years by submitting proof of registration.

II) The company that grants the pension shall certify that the pension of no less than US $2,000.00 per month will be forwarded to a reputable financial institution within Belize. This letter must be signed by the manager, president, or by a legal representative of the company.

III) Certification by a Certified Public Accountant independent of the company:

  • Stating the date the company was established
  • Verifying the authenticity of the above mentioned letter
  • Certifying that the obligation signed in favor of the beneficiary is not less than US $2000.00 per month.

IV) The applicant must present two (2) bank references from the company that is sending the pension.

V) The company granting the pension must present a document outlining its pension scheme.

Requirement II, II, IV could be omitted where the company sending the pension is considered to be a Fortune Five Hundred Company.

3. Background Check
All applications are subject to a background check to be carried out by the Ministry of National Security.

Incentives  for the Retire Program

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.

Regulations for the Retire Program

All privileges, exemptions and regulations herein included are governed by the Retired Persons(Incentives) (Amendment) Act, 2001, and the ACT will serve as the basis for all purposes of interpretation.

  1. Personal / Houshold Effects

    Qualified Retired Persons under the program can qualify for duty and tax exemptions on new andused personal and household effects admitted as such by the Product Development Officer incharge of the program. A list of all items with corresponding values that will be imported must be submitted with the application. All items must be imported in country within 1 year after approval into the program.

  2. Transportation

    a. Motor Vehicle
    Qualified Retired Persons are strongly encouraged to procure a vehicle in Belize. However, we will facilitate duty and tax exemption on an imported vehicle

    b. Light Aircraft
    Qualified Retired Person is entitled to import a light aircraft less than 17,000 kg. A Qualified Retired Person is required to have a valid Private Pilot license to fly in Belize. This license can be obtained by passing the requirements set by the Civil Aviation. However, if the participant has a valid pilot’s license, that license only has to be validated by Civil Aviation Department in Belize

    c. Boat
    Any vessel that is used for personal purposes and for pleasure will be accepted under this
    program.

  3. Disposal of Duty Free Items

    If for whatever reason a qualified retired person decides to sell, give away, lease, or otherwise dispose of the approved means of transportation or personal effects to any person or entity within Belize, all duties and taxes must be paid by that person or entity to the proper authorities. Qualified Retired Persons must note that only after 3 years and upon proof that the transportation that was previously imported to Belize was adequately disposed off, will another concession be granted to import another mode of transportation.

Forms

Please read all the instructions carefully before completing the form. All particulars must be fully stated in block letters. Incorrect or incomplete statements may result in delay or refusal of the application. If any error is discovered after status has been granted the applicant status may be revoked. Applicants may use the services of a local attorney or accountant when processing the application.

To view and print the PDF you need a Adobe Acrobat Reader
 

Required Documents

Persons interested in the program must submit completed applications to the Belize Tourism Board with the following supporting documentation:

Birth Certificate:
A copy of a certificate for the applicant and each dependant

Marriage Certificate:
(if married and spouse is a dependant)

Authentic Police Record:
An authentic police record from the applicants last place of residency issued within one month prior to this application

Passport:
Clear copies of complete passport (including all blank pages) of applicant and all dependents that have been certified by a Notary Public. The copies must have the passport number, name of principal, number of pages and the seal or stamp of the Notary Public.

Proof of Income:
An official statement from a bank or financial institution certifying that the applicant is the recipient of a pension or annuity of a minimum of Two Thousand United States Dollars (US $ 2 000) per month.

Medical Examination:
Applicants should undergo a complete medical examination including an AIDS test. A copy of the medical certificate must be attached to the application.

Photos:
Four front and four-side passport size photographs that have been taken recently of applicant and dependents

Latest Information about Retirement

In Order to get the latest Information about Retirement, please visit the Official  Belize Retirement.org  Website.


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