It is the dream of every working person to retire one day to an exotic place with calm surroundings, lots of sunshine, beautiful beaches and unlimited recreation both on land and in water.

Belize also referred to as “Mother nature’s best kept secret” is really a tropical gateway to heaven. It has now opened its doors for retirees to experience all the nice things that it has on offer.

Who qualifies?

Persons who are at least 45 years old from any part of the world are eligible for the Belize retirement program. Dependents of eligible persons are also included in the program.

People who are designated as Qualified Retired Persons are allowed to import their personal belongings along with an approved transport vehicle like automobile, light aircraft or boat without any duties or taxes. 

As per Belize Retired Persons (Incentives) Act, 1999, all qualified retired persons need not pay any tax or levy for all incomes earned from abroad whether through work or through investment.  The legal system of Belize is modeled after British Common Law and is well developed. The Belize government has passed a no. of legislations to encourage retirees to make Belize their favorite destination. Some of these acts are briefly discussed below.

The Retired Persons (Incentives) Act offers specific tax exemptions and inducements to qualified retired persons. The Limited Liability Partnerships Act allows establishment of limited liability partnership firms. The International Business Company (Amendment) Act and the Trust Act of 1992 are meant for benefiting persons with businesses existing outside of Belize and legitimate charitable or non charitable trusts. The International Financial Services Commission Act is aimed at promoting Belize as a global financial services center by protecting investors and regulating providing of financial services. The Money Laundering (Prevention) Act and the International Banking Act of 1996 were enacted to create a framework for preventing the misuse of Belize’s banks and other financial institutions for parking of illegal funds.

The above mentioned laws of Belize have given a sense of security and well being to prospective retirees intending to make Belize their home.