Owen C. Says:
I’m thinking about moving to Belize. I’ve seen you mention the Qualified Retirement Program there as a good way to stay in the country. However, I’ll still have some income from back home. Can I make use of this program?
IL Belize Correspondent Shane Kenny Says:
Hi Owen,
Happy to hear you are considering a move to Belize. The Qualified Retirement Program (QRP) could be a good option for you.
Despite the name, you don’t have to be retired to join the program. You only need to be at least 45 years old and prove that you have a monthly income of at least $2,000 from a pension or annuity (including Social Security) generated outside of Belize.
Many expats choose this residence program as it offers advantages to those with a guaranteed income. The system is the result of the Retired Persons Incentives Act, Chapter 62 of the Laws of Belize. It is co-administered by the Department of Immigration and Nationality Services and the Belize Tourism Board.
To qualify, you can be from any country in the world, and can also include your spouse and dependents under the age of 18 in the program (or under 23 if the children are in college). There are a few other requirements, most of which can be overcome with legal assistance.
You can then bring your personal goods to Belize tax-free and pay no Belizean taxes on any foreign-earned income. All the items must arrive in Belize within a year of entry into the program.
Under the QRP program, you can work as long as you don’t generate income in Belize, or from an investment within Belize. Basically, QRPs cannot own a business or Belize corporation. Any income earned must be offshore.
Many QRPs work as consultants to clients in the U.S., Europe, and elsewhere outside Belize. Many also generate offshore income through an online business.
You can get more details on this program in our detailed guidebook, Escape to Belize.
Hope that helps!