Belize

Qualified Retired Person Incentive Program

Under the Qualified Retired Person Incentive Program (QPR), the Belize Tourism Board grants resident visas to individuals aged 45 or older, who prove a foreign source pension or annuity or other acceptable source of income of at least USD 2,000 per month. Applicants must sign an undertaking to transfer the aforementioned income into a bank, credit union or any financial institution in Belize

Usually this requirement is met making a deposit of US$ 24,000 in a Belize local bank.

With the program, you will get a residency visa, which must be renewed every December 31st. You must meet the required requirements in each renewal and remain in the country a consecutive period of 30 days per year. The program allows the inclusion of dependents.

Along with the visa, you will benefit from an exemption of customs duties for the first year on importing household and personal effects, a ship, an aircraft and a vehicle every three years.
With the QPR card you will not be able to work for a company in Belize, but you can keep your companies abroad, work online or for clients from abroad.

After 1 year legally residing in Belize, you will be eligible for permanent residency, and after 5 years of permanent residency you may apply for citizenship.

Requirements


- Be at least 45 years of age.
- 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 US $2,000 per month, or a Financial Statement from a financial institution, bank, credit union, or building society in Belizecertifying that the applicant’s investment or deposit will generate the sum, of a minimum of US $2000 per month or the equivalent of US $24,000 per year.
- No criminal record.
- Be in good health and do not have any contagious disease

Restricted Nationalities


No nationality is officially restricted

dual citizenship


Dual citizenship is recognized in Belize. You are not required to renounce your previous nationality to become a citizen of Belize.


Documents Required


  • Original or Certified copy of Birth Certificate (if applicable)
  • Original or Certified copy of Marriage Certificate (if applicable)
  • Original Police Clearance Certificate
  • Certified copy of passport
  • Proof of income
  • Medical Certificate
  • Four passport-size photos
  • Original Bank Reference Letter (Not older than 6 month)
  • dual citizenship Yes
  • Family members included Yes
  • land ownership Yes
  • Physical residence required Yes
  • Personal visit required No
  • Language skills required No
  • Interview required No
  • Investment Single -
  • Investment Family 4 -
  • Minimum annual income $24,000
  • Time to citizenship 72
  • Time to permanent residency 12
  • Visa-free countries 95
  • Financing available No

Fees

government fees main applicant $1,000
processing fees main applicant $150
certificate issuance fee $200
other fees $50 (Annual Renewal Fee)
total fees main applicant $1,350
government fees spouse $750
processing fees spouse $150
certificate issuance fee $200
other fees $50 (Annual Renewal Fee)
total fees spouse $1,100
government fees dependents -18 $750
processing fees dependents -18 $150
certificate issuance fee $200
other fees $50 (Annual Renewal Fee)
total fees dependent -18 $1,100
government fees dependents 18-25 $750
processing fees dependents 18-25 $150
certificate issuance fee $200
other fees $50 (Annual Renewal Fee)
total fees dependent 18-25 $1,100
government fees dependents +65 -
processing fees dependents +65 -
certificate issuance fee $200
other fees $50 (Annual Renewal Fee)
total fees dependent +65 -

Country details

Belize
BZD
501
Belmopan
North America
Belizean Creole English Spanish
314522
Belize, formerly British Honduras, is a CARICOM and SICA member. Located in the northeastern corner of Central America, bordering to the north with Mexico and to the south and the west with Guatemala. The capital is the city of Belmopan and the most populated city is Belize City, which is also the main port of the country. Although is the only Central American country with English as official language, its just over 380,000 inhabitants speak predominantly Spanish and Creole. Its currency is the Belize Dollar (BZD), which is currently pegged to the US$ (2:1).

Visa Free Travel

With your new passport from Belize you'll be able to access 95 countries visa free
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Taxes

To be a tax resident in Belize you must reside in the country more than half year. Tax residents and non-residents are subject to income tax on their income derived from Belize. Income from foreign source is not subject to taxation.

Personal income tax rate is progressive up to 25%. Capital gains are tax-exempt.

Belize levies a real property tax of 12.5% of the annual rental value for an occupied property, and a 2% tax on the annual rental value for an unoccupied property. Property tax may not exceed 2% of the market value of the property. There is a land tax of 1% for unimproved lands.

There is a stamp duty on the transfer of assets, rates depend on asset class. Purchase of real property is subject to a 10% stamp duty.

In Belize, you may incorporate a limited liability company or an international company, that besides being tax exempt, provided that business is done abroad, benefits from confidentiality and easy accounting requirements. For further information on Belize corporations, visit incorporations.io/belize.

This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.

  • Property tax Yes
  • Transfer tax Yes
  • Inheritance tax No
  • Net worth tax No
  • CFC law No
  • Tax residency days 183
  • Personal income tax rate 25%
  • Capital Gains tax rate 0%
  • Investment income tax rate 25%
  • Territorial taxation Yes

Procedures

Flag Theory | Passports.IO and our qualified attorney in Belize, will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain free as possible.

First, our lawyers will conduct a due diligence check on you to ensure that you are eligible and meet the criteria to apply for the program and your application will be approved. We will send you the application forms and provide assistance to complete the questionnaires, translate and authenticate documents. You must do a medical examination (we may recommend clinics in your jurisdiction) and provide us the medical assessment. We will introduce you to the best banks in Belize in order that you can open a bank account to make the deposit or receive your pension.

We will handle all paperwork with Belize Government, which will conduct a due diligence check. Once your application is approved, you will receive your QPR card. The whole process takes within 1-2 months.

For further information on Belize Qualified Retired Person Incentive Program and detailed procedures, contact us for a free private consultation.

Any time there is a change or new citizenship or residency by investment program, we'll send you an update via email. Your email will not be shared.