Belize offers a great incentive program for those looking to retire in Belize. Duty and tax exemptions combined with no tax on any of your retirement revenue from outside of Belize. Close to the US and Canada
May 22, 2014 (Newswire) -
Retire in Belize - A Getting Started Guide.
Enjoy the benefits of Belize Retirement Incentives.
Many people are considering Belize as a retirement destination. Warm weather, no need for a car, and a selection of options for activity or relaxation compelled U.S. News and World Report to consider Ambergris Caye, one of the "Five Best Beach Retirement Cities in the World." The report cites the island is "one of the fastest-growing communities of foreign retirees in the world. Ambergris Caye offers a quintessential Caribbean lifestyle. Just offshore is the world's second-longest barrier reef and all the snorkeling, diving, fishing, boating and swimming a beach-loving retiree could hope for."
With an international endorsement like that - don't wait any longer. Consider the following:
1 - Belize is the only English-speaking in Central America
2 - Belize has a stable government using English Parliamentary Democratic Law
3 - The Belizean dollar is easy to convert using a 2-1 Ratio with $US
4 - Low property taxes and low income tax
5 - No Capital Gains tax
6 - Professional international banks
7 - Excellent health care available
8 - Low crime rate
9 - Easy access to & from USA and Canada
10 - Ideal weather conditions year round
Now that you are serious about retiring to Belize, then there is great news as Belize offers something especially for retirees! The Government of Belize has specially created a program to welcome you. The Belizean Retirement Program is very attractive.
i - 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.
ii - 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. When a company grants a pension, that company has to prove that it has been in operation for at least 20 years and proof of the Company shall be submitted by a copy of the registration.
iii - 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. 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, and 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. The company granting the pension must present a document outlining its pension scheme.
v - Requirement ii, iii, iv could be omitted where the company sending the pension is considered to be a Fortune Five Hundred Company.
vi - All applications are subject to a background check to be carried out by the Ministry of National Security of Belize.
Now you have qualified, here are 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.
Watch for our next blog 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.