Belize Retirement & Investment Residency
Belize is recognized as a popular tourist destination and continues to grow in popularity. Belize is considered to be a great spot for investors, retirees, and expats looking for a country to live, work, and invest. Hence, the Qualified Retired Person Incentive Program (QRP) was developed to fast-track residency for those who qualify. For the QRP program for retirement and investment residency, a person must be 40 years or older to apply.
The BTB (Belize Tourism Board) has introduced a new program that allows QRP holders and people applying for QRP to invest in Belize and conduct business in Belize more freely. QRP Members will be entitled to carry on business in Belize with approval if the Member meets the following qualifications:
- A Business Plan.
- Proof of Investment of at least 1 Million Belize dollars (US$500,000).
- If the person has resided in Belize for at least 90 non-consecutive days.
- The Business must employ at least five Belizean citizens.
Retire & Invest Program Benefits
A QRP Member granted approval to carry on business in Belize will be eligible for the following:
- Permanent residency after designation as a QRP for five (5) years;
- For the grant of any other license or permit necessary for carrying on business in Belize;
- Practice philanthropy in Belize.
QRP Retire & Invest Residency Program
A Qualified Retired Person who desires to obtain QRP status for investment or to carry on business in Belize shall apply directly to the Belize Tourism Board for approval. An application shall be submitted in writing and accompanied by the following:
- Detailed Business Plan – A formal written document outlining the goals of the business, methods for attaining goals, and the timeframe for achieving goals. The business plan MUST include but is not limited to the following:
- The Executive Summary.
- Company Description.
- Marketing Plan.
- Financial Plan.
- And Business Plan.
- Proof of Investment Capital of at least one million dollars (BZD) $500,000 US. – Original or certified copies of international bank statements, investment account statements issued by a financial institution, and official letters from a financial institution confirming the availability of funds MUST be provided.
- Must show proof of having resided in Belize for a minimum of 90 non-consecutive days.
Opening a Business with the Retire & Invest Program
Every Qualified Retired Person who is granted approval to carry on business in Belize under the new program is required to;
- Employ at least 5 Belizean Citizens.
- Within 12 months of approval to carry on business in Belize, submit to the BTB proof of employment of at least 5 Belizean Citizens.
- Within 18 months of approval to carry on business in Belize, submit proof of business operation to the Belize Tourism Board.
A Qualified Retired Person granted approval to conduct business in Belize shall be eligible.:
- For the grant of any other license or permit necessary for carrying on business in Belize.
One of the major draws is the fact that a person does not have to be residing in Belize in order to apply for the QRP Retire & Invest Program.
A Qualified Retired Person who desires to carry on business in Belize shall apply in writing to the Belize Tourism Board for approval accompanied by the following.
- Business Plan [including employment of 5 Belizean Citizens].
- Proof of Investment Capital [minimum of one million Belize dollars or $500,000 US].
- Proof of Residing in Belize for over 90 days [passport pages showing the applicant has resided in Belize for at least 90 non-consecutive days].
A Qualified Retired Person granted approval to carry on business in Belize shall:
- Employ Belizean Citizens [minimum of 5 Belize citizens].
- Submit proof of employment of Belizeans to the BTB [within 12 months of approval].
- Submit proof of business operation [within 18 months of approval].
- Pay full duties and taxes on any business carried out in Belize.
BTB Retire & Invest Incentive
The Belize Tourism Board manages the Belize QRP and Retire & Invest programs.
The QRP is renowned as the most efficient path to foreign residency anywhere in the Americas and one of the primary reasons Belize is known as one of the best places to retire in the region (Caribbean & Central America) and, indeed, one of the best place to retire in the world.
Once the application process is completed, the program grants the applicant the equivalent of a green card and various other incentives. The benefits include a permanent exemption from all taxes in Belize (estate taxes, income taxes, capital gains taxes, and most import taxes).
While the Belize QRP visa offers full-time residency, new residents can enjoy all the QRP benefits without spending the majority of the year in Belize for naturalized residency.
The requirements to successfully enter the Belize Qualified Retirement Program are remarkably simple compared to residency programs elsewhere in the world.