Belize is known as “Mother
Nature’s Best Kept Secret” and indeed a number of Americans are considering
retirement here, why? The simple answer is that it is a tropical paradise
filled with sandy beaches, beautiful reefs and even more beautiful people, who
wouldn’t want to live out the rest of their days, living in paradise, right?
Aside from the obvious, there is
also another reason why more and more ‘foreigners’ are opting to stay in Belize,
and this is the Retired Persons Incentive
Program offered to qualified individuals who wants to retire to Belize. So, what is this program all about? Let’s find
out.
The program is offered for
individuals who wish to stay in Belize and can prove a permanent and consistent
income coming from their pension or retirement benefits and/or investments
(within or outside Belize). Such individuals needs to be 45 years old and above
as well as his dependents including the spouse and children under 18 or children
who are 23 years old and below who’s enrolled in a University and can provide
all necessary requirements in order to be approved.
Requirements
In order to qualify for the
program, the individual must submit the following requirements
- Completed application form from the Belize Tourism Board
- Birth certificate of the applicant and dependents
- Marriage Certificate (if applicant is married and the spouse is a dependent)
- Authentic Police Record – must be issued within 1 month prior to the application and must be from the applicant’s last place of residence
- Clear Copies of Passports of the applicant and dependents – they must be clear, contain all the pages including all the blanks and have been certified by a notary public. The copies must state clearly the passport number, name, number of pages, and the seal of the notary public.
- Proof of Income – for you to qualify, you need to be earning at least $2,000 US dollars monthly and you need to provide proof of such like financial statement from a bank or financial institution that certifies the individual’s investment or deposited amount in the said institution will generate at least the required monthly amount or an official statement from the bank stating that the individual receives a pension or annuity that amounts to the required monthly income.
- Medical Examination – all applicants must undergo a medical exam including AIDS test and a copy of the result needs to be attached to the application
- Photographs – recent 4 front and 4 side photos in the passport size should be submitted by the applicant and dependents.
What’s In It For Me
So, looking at the requirements,
you realize that you might just be qualified for the program but isn’t quite
sure why you would want to apply for it in the first place, here’s a few of the
perks you can have if you do get accepted.
If you get accepted into the
program, you are entitled to import all your personal effects including a mode
of transportation when you first get into Belize without paying any duties or
taxes on them. You also don’t need to
pay taxes on all incomes accrued from sources outside of Belize regardless of
how the income is generated (work or investment).
Belize is generally a peaceful
country with very friendly people plus its breathtaking beauty is beyond
compare. It is very close to Mexico and the US, making traveling back and
forth, should the need arise, be quiet easy. One can easily adapt here as it is
mainly an English speaking country, so language will not be a barrier. The stable Belize dollar also doubles your
income easily. If you are looking for a peaceful and tranquil place to live out
the rest of your days, then perhaps it is a good idea to consider Belize and
with the incentive program the government has put out for anyone interested, it
really might just be a ball to retire toBelize.
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