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Belize River Front Real Estate and Investment Properties
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Retirement
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The option of retirement is bringing substantial numbers of Expatriots
from America, Canada and Europe to the real estate market.
Here we detail who qualifies and the straight forward application process.
Belize, known in travel circles as "Mother Nature's Best Kept Secret", is truly a
tropical paradise. An exotic tropical paradise that now opens
it's doors to all who dream of new experiences.
Our unique ways of life, our naturally wealthy environment and our culturally diverse and hospitable
people are only but a few reasons to retire in
Belize. Belize Borders Mexico's Yucatan Peninsula to the
north, Guatemala to the west and south, and the Caribbean Sea
to the East. To the East lies the Barrier Reef, the second
longest in the world and famous among divers and sports
fishermen. Tourists have long enjoyed the reef , the many
Cayes and inland rainforests.
Belize has world class medical facilities check the following as an example:
Belize Medical.
Who Qualifies
Anyone forty-five years and older from anywhere in the world
can qualify for the program.
A person who qualifies
can also include his or her dependents in the program.
Dependents include spouses and their children under the
age of eighteen. However, it can include a person under
the age of twenty-three if enrolled in a university.
Income
From Pension or Other Source
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.
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 of no 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 2,3,4
could be omitted where the company sending the pension is
considered to be a Fortune Five Hundred
Company.
Incentives & Regulations
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 levies onall 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, 1999, No. II
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 on new and used personal and
household effects admitted as such by the Belize Tourism Board
in charge of the program. A list of all items with
corresponding values that will be imported must be submitted
with the application. A one year
period is granted for the importation of personal and
household effects.
2. TRANSPORTATION (motor
vehicle, boat, aircraft)
a. Motor Vehicle
Qualified Retired
Persons are strongly encouraged to procure vehicles in Belize.
However, we will faciitate duty and tax exemption on imported
vehicles.
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 off, 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 renew any exemption or privilege granted under
the Retired Persons Act, 1999 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 $100.00 payable to the Belize Tourism
Board must be submitted with the application.
b.
A program fee in the sum of US $500.00 payable to the Belize
Tourism Board must be submitted upon acceptance into the
program.
c. On first entering the country, a fee of US $I00.00
must be paid to the Immigration Department that will entitle
the applicant to receive a Qualified Retired Person Status.
d.
Each dependant is required to pay a Program Fee of US $350 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.
Application
Process
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:
- Birth Certificate Record:
A copy of a certificate for the applicant and each dependant.
- Authentic Police Record:
An authentic police record from the applicants last place of residency issued within
one month prior to this application.
- Passport:
Color 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 Examiniation:
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.
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