Belize Offshore Express - Offshore, Immigration, Real Estate & Business Consulting - Retirement, Belize Trust, Offshore Banking, IBC

About the Program

The Retirement Program in Belize was created especially
for those people who wish to live in Belize and can prove
a permanent and consistent income from investment
(abroad or in Belize), pension or other retirement
benefits.

Who can qualify for this program?

Anyone forty-five years and older can qualify for the
program. A person who qualifies can also include his or
her dependants in the program. Dependants include
spouses and children under the age of eighteen. It can
also include children up to the age of twenty-three if
enrolled in a university.

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 fo transportation free of all import duties and
taxes.

A Qualified Retired Person shall be exempt from the
payment of all taxes and levies on al 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. 11 of 1999 and the ACT will serve as the base
for all purposes of interpretation.

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 Product
Development Officer at 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. All items must be imported
in the country within 1 year after approval into the
program.

Transportation (motor vehicles, boats, aircrafts)

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 the country.

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 the Civil Aviation Department of
Belize.

Boat

Any vessel that is used for personal purposes and for
pleasure will be accepted under this program.

Application Process

Each application for the Retirement Program will be
processed by the Belize Tourism Board (BTB) in
collaboration with the Ministry of National Security and
the Department of Immigration.

Persons interested in the program must submit
completed applications to the BTB with the following
supporting documentation:

Birth Certificate – a copy of a certificate for the applicant
and each dependant

Marriage Certificate (if married and spouse is a
dependant)

Authentic Police Record – An authentic police record
from the applicant’s last place of residency issued within
one month prior to this application.

Passport – Copies of complete passport (including all
blank pages) of the applicant and all dependants 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$2000) per month.

A Financial Statement from a financial institution, bank,
credit union or building society in Belize certifying that the
applicant’s investment or deposit will generate the sum,
of minimum of Two Thousand United States Dollars
(US$2000) per month or the equivalent of Twenty Four
Thousand United States Dollars (US$24,000) per year.

Medical Examination – Applicants should undergo a
complete medical examination including and HIV/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 dependants.

Please note that it is also a requirement that all
dependants submit all documents listed with exception of
the proof of income.

Income from pension or other sources:

Retired Pensioner

A Retired pensioner is that person who qualifies under
the program and receives a monthly income of not less
than US$2000 through a pension or annuity that has
been generated outside of Belize.

Certification

i) The company that grants the pension has to prove that
it has been in operation for at least 20 years by
submitting proof of registration.

The company that grants the pension shall certify that
the pension of no less than US$2000 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
Certifying that the obligation signed in favor of the
beneficiary is of no less than US $2000 per month
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.

Requirement 2, 3, 4 could be omitted where the company
sending the pension is considered to be a Fortune Five
Hundred Company.

Background Check

All applications are subject to a background check to be
carried out by the Ministry of National Security.

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 effect 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.

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 1999
commits and offence and shall be liable on summary
conviction to a fine not exceeding five thousand dollars.

Fee Structure:

A non-refundable application fee in the sum of US $102
payable to the BTB must be submitted with the
application.

A program fee in the sum of US$504 payable to the BTB
must be submitted upon acceptance into the program.

Upon acceptance into the program, a fee of US$102
must be paid to the Immigration Department for the
issuance of the Qualified Retired Person Status.

A BZE $10 stamp must be attached to each application
that is submitted to the BTB for processing.

Terms and Conditions

Qualified Retired Persons are not allowed to seek
employment or work for pay while in this program or in
Belize.

Qualified Retired Persons within this program must inform
the BTB regarding any changes stated on the application
form. Failure to do so may result in the revocation of
applicant’s status.

Qualified Retired Persons must adhere to all existing laws
of Belize, in addition to the Retired Persons (Incentives)
Act.

All benefits provided by this program will be exclusively
used by the Qualified Retired Persons and his or her
dependants.

The BTB has the authority to carry out any investigation
with respect to the validity of any document provided by
the applicant under this program.

Participants within this program must inform the BTB prior
to leaving the country indefinitely so that assets received
under this program can be liquidated.

All documents presented to the BTB become the
property of the board.

The applicant must not have any criminal matters with the
law at the time of application.

Applicants must present a listing with all necessary
information with regards to his or her dependants. If the
applicant has dependants over eighteen and in school,
he or she must present proof of enrollment from that
institution.

Qualified Retired Persons must submit a yearly bank
statement showing compliance with the financial
requirements of the program.

Belize Offshore Express Processing Fee: $500 U.S.