Belize Retirement – A Getting Started Guide.
Enjoy the benefits of Belize Retirement Incentives
Lots of people are thinking about Belize as a retirement destination and Belize Real Estate as an investment. Warm weather conditions, no need for an automobile, and a plethora of alternatives for activity or relaxation urged U.S. News and World Guide to report Ambergris Caye, among the “5 Finest Beach Retirement Cities in the World.” The report mentions the island is “one of the fastest-growing communities of international senior citizens on the planet. Ambergris Caye offers an essential Caribbean way of living. Right offshore is the world’s second-longest reef and all the snorkeling, diving, fishing, boating and swimming a beach-loving retired person might hope for.” When you include Real Estate in Belize as a phenomenal investment opportunity, you have a winning combination.
With a global endorsement like that– do not wait any longer. Think about the following:
1- Belize is the only English-speaking Country in Central America.
2- Belize has a steady government making use of English Parliamentary Democratic Law.
3- The Belizean dollar is simple to convert using a two to one Ratio with $US.
4- Low real estate tax and low income tax.
5- No Capital Gains tax.
6- Expert global banks.
7- Exceptional health care offered.
8- Low crime rate.
9- Easy access to & from Canada and the US.
10- Ideal weather all year round.
Now that you are serious about retiring in Belize, then we have great news as Belize offers something specifically for retired people! The Government of Belize has specially created a program to invite you. The Belizean Retirement Program is extremely attractive if you want to retire in Belize.
- Any individual forty-five years and older can certify for the program. A person who certifies can likewise 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 as a Qualified Retired Person under the program, candidates will need to provide a month-to-month income of not less than United States $2,000 with a pension or annuity that has been created outside of the country of Belize. When a company grants a pension, that company needs to show that it has been in business for a minimum of 20 years and evidence of this must be submitted witha copy of the registration.
- The business that gives the pension will license that the pension of no less than United States $2,000.00 per month will be forwarded to a respectable financial organization within Belize. This letter has to be signed by the supervisor, head of state, or by a legal representative of the business. Certification by a Licensed Public Accounting professional independent of the company: Specifying the date the Business was established, Confirming the authenticity of the above discussed letter, and Accrediting that the obligation signed in favor of the recipient for not less than United States 2000.00 per month.
- Two (2) bank references must be presented from the Company that is sending the pension for the Applicant. The company granting the pension must present a document outlining its pension scheme.
- If the business providing the pension is considered to be a Fortune 500 Company, then requirement ii, iii, iv shall be omitted .
Applicants are subject to potential background checks carried out by the Ministry of National Security of Belize.
Once have qualified, here are some of the 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.
- 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.
Read Part 2 in this Belize Retirement Series which details all regulations and your application process to this very exciting new venture! Or contact us, your Belize Real Estate professional for immediate information.