Each application for the Retirement Program will be processed by the Belize Tourism Board and forwarded to the Immigration Department. Persons interested in the program must submit completed applications to the Belize Tourism Board with the following supporting documentation:
1. Birth Certificate - A copy of a certificate for the applicant and each dependent.
2. Marriage Certificate - (if married and spouse is a dependent).
3. Authentic Police Record - An authentic police record from the applicants last place of residency issued within one month prior to this application.
4. Passport - 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.
5. Proof of Income - (Either a or b)
a. 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 One Thousand United States Dollars (US $1,000) per month.
b. A Financial Statement from a financial institution, bank, credit union, or building society in Belize certifying that the applicant has deposited the sum of a minimum of Two Thousand United States Dollars (US $2,000) per month or the equivalent of Twenty Four Thousand United States Dollars (US $24,000) per year.
6. 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.
7. Photos - Four front and four-side passport size photographs that have been taken recently of applicant and dependents.
TERMS AND CONDITIONS
i. Qualified Retired Persons may not be allowed to seek employment or work for pay while in this program or in Belize.
ii. Qualified Retired Persons within this program must inform the Belize Tourism Board regarding any changes stated on the application form. Failure to do so may result in the revocation of applicant's status.
iii. Qualified Retired Persons must adhere to all existing laws of Belize, in addition to the Retired Persons (Incentives) (Amendment)2001, Act.
iv. All benefits provided by this program will be exclusively used by the Qualified Retirement Persons and his or her dependents.
v. The Belize Tourism Board has the authority to carry out any investigation with respect to the validity of any document provided by the applicant under this program.
vi. Participants within this program must inform the Belize Tourism Board prior to leaving the country indefinitely so that the assets received under this program can be liquidated.
vii. All documents presented to the Belize Tourism Board become the property of the Board.
viii. The applicant must not have any criminal matters with the law at the time of application.
viiii. Applicants must present a listing with all the necessary information with regards to his or her dependents. If the applicant has a dependent over eighteen and in school, then he or she must present a proof of enrollment from that institution.
x. Qualified Retired Persons must submit a yearly bank statement showing compliance with the financial requirements of the program.
xi. All Qualified Retired Persons must adhere to the general procedures cited by the Customs Department for the clearing of all personal and household effects including 'Mode of Transportation.
xii. Qualified Retired Persons must spend an equivalent of one month in Belize annually to maintain their status as a Retiree Resident.
Download>>Official printable document
INCOME FROM PENSION OR OTHER SOURCE
1. Retired Pensioner - A Retired pensioner is that person who qualifies under the program and receives a monthly income not less than US $1,000.00 through a pension or annuity that has been generated outside of Belize.
2. Certification - articles of certification go as follows:
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 on less than US $1,000.00 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 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 of no less than US $1,000.00 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. Requirements 2,3,4 could be omitted where the company sending the pension is considered to be a Fortune Five Hundred Company.
3. Background Check - All applicants are subject to a background check to be carried out by the Ministry of National Security.
INCENTIVES
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 Retire Person shall be exempt from the payment of all taxes and levies 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
All privileges, exemptions and regulations herein included are governed by the Retired Persons (Incentives) Act, 2001, and the ACT will serve as the basis for all purposes of interpretation.
1. Personal Household Effects - Qualified Retired Persons under the program can qualify for duty and tax exemptions not exceeding US $15,000 on new and used personal and household effects admitted as such by the Product Development Officer in charge of the program. A list of all items with corresponding values that will be imported must be submitted with the application.
Qualified Retired Persons have one year from the date that they officially enter the program to import their personal and household effects free of duties and taxes as determined by the Customs Department. Numerous entries are permitted within the one year period; however, your detailed master list of household and personal effects must be submitted to the Belize Tourism Board upon approval into the Program. After the year has elapsed, you will be subject to all duties and taxes under the Customs Department.
2. Transportation - (motor vehicle, boat, aircraft)
a. Motor Vehicle Applicants are encouraged to import new motor vehicles under the program; however, motor-vehicles three years and under will be accepted. Qualified Retired Persons may procure vehicles in country.
b. Light Aircraft A 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 of, will another concession be granted to import another mode of transportation.
4. Offenses and Penalties - Any person who knowingly makes any false declaration or entry in order to qualify for or retain any exemption or privilege granted under the Retired Persons Act, 2001 commits an offence and shall be liable on summary conviction to a fine not exceeding one thousand dollars.
5. Fee Structure
a. A non-refundable application fee in the sum of US $150.00 payable to the Belize Tourism Board must be submitted with the application.
b. A program fee in the sum of US $1000.00 payable to the Belize Tourism Board must be submitted upon acceptance into the program.
c. On first entering the country, a fee of US $200.00 must be paid to the Immigration Department that will entitle the applicant to receive a Qualified Retired Person Residency Card.
d. A BZE $10.00 stamp must be attached to each application that is submitted to the Belize Tourism Board for processing. Please call 011-501-223-1913 or 1-800-624-0686 for more information.
e. Each dependent is required to pay a Program Fee of US $750 to enter the Program.
NOTE: All payments must be made payable to the Belize Tourism Board and be in the form of US cash, US bank draft or US cashier's check. Personal or comapny checks will not be accepted.
Download>>Application form for retiring in Belize
REQUIREMENTS FOR PERMANENT RESIDENCY
In order for you to qualify as a permanent resident of Belize you will need to be living in Belize for a year (1) consecutively. You will need to show proof that you have been living in Belize legally. If you are a citizen of the United States you will not need a visa for the first thirty (30) days. Thereafter, you will need to apply for a visa at the nearest immigration department. You need to show proof as follows:
1. Evidence that you are in the country legally.
2. Alien registration for yourself and members of your family over the age of sixteen if you remained in the country for at least six months.
3. Recent copies of Police Certificates of character for yourself and all members of your family over the age of sixteen. If you seek a Police record you must have been in the country for at least six months.
4. Documentary evidence that you have acquired land in Belize or that you have access to land if you make such a claim.
5. Certificate of Health including an AIDS test for you and all members of your family completed by a qualified registered medical Practitioner.
6. Three recent passport size photographs of yourself, wife and children if they are to be included.
7. Wife's / Husband's Birth Certificate.
8. Marriage Certificate
9. Sworn declaration of support (from husband or common-law husband in the case
of a housewife)
10. Recent local bank statement in case of capital investment or otherwise where means of financial support is not indicated.
11. Temporary Employment Permit if you are or wish to engage in gainful employment.
A final decision will be made when all requirements have been met. Pending a decision on your application you are advised to apply for monthly extensions on your documents to the Immigration Department in Belize City or the nearest Police Station in the district towns or Immigration Department in Belmopan.
If you have a change of address while your application is being processed you are stongly advised to inform the Ministry immediately.
Download>>Complete retirement info pdf
Tax Breaks.
