Frequently Asked Questions - Incentives, Investment, and Retirement
Do you expect values to rise on La Playa de Cerros?
Can I purchase the property as an investment and not build?
What are some incentives to relocating a business to Belize?
Can I retire to Belize? What are the incentives?
What is the Belize Retirement Program?
Q: Do you expect property values to rise on La Playa de Cerros?
A: Our pricing is based on pre-construction at this time and as development
progresses, we expect the prices to appreciate. Due to the uniqueness of our
development much international attention is expected. Given the area's location
directly across from Corozal, Chetumal and Ambergris Caye, as the project
matures over the next few years, we would like to see values comparable with
San Pedro. We have Architectural Regulations and CC&R's which will ensure and
protect property values. Many of our purchasers are real estate professionals
buying for investment purposes.
Q: Can I purchase the property as an investment and not build?
A: Right now you may purchase the property as an investment and not build.
However, this is been a subject of much discussion. If this changes our
purchase contract will reflect any change. What you see and sign in our
contract, CC&R's and Architectural is what you get After investigating property
pricing in Belize, you will find our pricing is currently very competitive with
the Belize market. One should expect that our pricing will rise as the
development progresses. You do not have to build on your property, however, if
you are purchasing property to eventually sell for profit at a later date,
please note that our Deed restrictions must be followed by any and all future
Q: What are some of the incentives to relocating a business to Belize?
A: Some of the incentives to relocating a business to Belize include:
- No capital gains tax in Belize
- Belize is a tax shelter haven
- Very low property taxes
- Many retirement incentives
- We may help finance your purchase and construction costs
Q: Can I retire to Belize? What are the incentives?
A: You can retire to Belize and there are many retirement incentives.
Click here to link to the Belize Retirement
Program for more information. We can direct you to many offices in Belize. The
cost of living in Belize is less than in the U.S., but may depend on the
standard that you are accustomed to.
Q: What is the Belize Retirement Program?
A: The Belize Retirement Program is created especially for people who wish
to live in Belize and can prove permanent and consistent income from investment
(abroad and in Belize), pension or other retirement benefits.
Anyone forty-five years and older from the United States of America, The United
Kingdom of Great Britain and Northern Ireland, Canada and Belize can qualify
for this program. A person who qualifies can also include his or her dependants
in the program. Dependants included spouses and children under the age of
eighteen. However, it can include a person under the age of twenty-three if
enrolled in a university.
More Benefits of Retiring in Belize:
- Tax breaks
- Peaceful nation
- English speaking
- Good educational system
- Sub-tropical climate all year round
- Easy access to land for development and construction of a retirement home
- Close proximity to the United States and Mexico
- Strong and stable Belize Dollar
- Abundance of natural resources
- Breathtakingly beautiful
- Friendly people
The 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 - A copy of a certificate for the applicant and each dependent.
- Marriage Certificate (if married and spouse is a dependent).
- Authentic Police Record - An authentic police record from the applicants last place of residency issued within one month prior to this application.
- Passport - 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 (Either a or b)
- 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 One Thousand United States Dollars (US $1,000) per month.
- A Financial Statement from a financial institution, bank, credit union, or building society in Belize certifying that the applicant has $2,000) 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 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.
Terms and Conditions
- Qualified Retired Persons may be allowed to seek employment or work for pay while in this program or in Belize.
- Qualified Retired Persons within this program must inform the Belize Tourism Board 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 Retirement Persons and his or her dependents.
- The Belize Tourism Board 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 Belize Tourism Board prior to leaving the country indefinitely so that the assets received under this program can be liquidated.
- All documents presented to the Belize Tourism Board 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 the necessary information with regards to his or her dependents. If the applicant has a dependent over eighteen and in school, then he or she must present a proof of enrollment from that institution.
- Qualified Retired Persons must submit a yearly bank statement showing compliance with the financial requirements of the program.
Income from Pension or Other Source
- Retired Pensioner A Retired pensioner is that person who qualifies under the program and receives a monthly income not less than US $1,000.00 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 by submitting proof of registration.
- The company that grants the pension shall certify that the pension of on less than US $1,000.00 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 Certified Public Accountant independent of the company:
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.
Requirements 2,3,4 could be omitted where the company sending the pension is considered to be a Fortune Five Hundred 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 $1,000.00 per month.
All applicants are subject to a background check to be carried out by the Ministry of National Security.
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 Retire Person shall be exempt from the payment of all taxes
and levies 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.
All privileges, exemptions and regulations herein included are governed
by the Retired Persons (Incentives) Act, 1999, No.11 and the ACT will
serve as the basis for all purposes of interpretation.
- Personal Household Effects Qualified Retired Persons under the program can qualify for duty and tax exemptions not exceeding US $15,000 on new and used personal and household effects admitted as such by the Product Development Officer in charge of the program. A list of all items with corresponding values that will be imported must be submitted with the application.
- Transportation (motor vehicle, boat, aircraft)
- 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 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 Civil Aviation Department in Belize.
- Boat Any vessel that is used for personal purposes and for pleasure will be accepted under this program.
- 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 5 years and upon proof that the transportation that was previously imported to Belize was adequately disposed of, 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 an offence and shall be liable on summary conviction to a fine not exceeding one thousand dollars.
- Fee Structure
- A non-refundable application fee in the sum of US $100.00 payable to the Belize Tourism Board must be submitted with the application.
- A program fee in the sum of US $500.00 payable to the Belize Tourism Board must be submitted upon acceptance into the program.
- On first entering the country, a fee of US $100.00 must be paid to the Immigration Department that will entitle the applicant to receive a Qualified Retired Person Status.
- A BZE $10.00 stamp must be attached to each application that is submitted to the Belize Tourism Board for processing.
Please call 011-501-223-1913 or 1-800-624-0686 for more information.