from friends....

US$2K/month deposit may be forever if a foreign national wants to retain QRP status forever, but why would a Belizean ever agree to that? Belizeans can come, go, remain and work in country as they wish with no monetary obligations.

The few foreign national QRPs I know can import a new car every 5 years, duty free. After 5 years they can sell the previously imported vehicle with no duty penalty. They can also sell imported items after 5 years and drop out of the program to leave the country with no duty penalty.

I don't claim to know everything about QRP but almost nothing is "forever." In a Gov. program "forever" would more likely, in reality, be indefinitely or until the program changes.

I think it's more likely the Belizeans in the pie chart are citizens who lived abroad and were enticed to retire in Belize by the low-cost or free land scheme, subsidized mortgage rates and import duty exemptions.

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And they doubled the QRP $ requirement from $1K to $2K. Next may be doubled again to $4K.

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The Retirement Program in Belize was created especially for those people who wish to live in
Belize and can prove a permanent and consistent income from investment (abroad or in Belize),
pension or other retirement benefits.

Anyone forty-five years and older from anywhere in the world can qualify for the program. A
person who qualifies can also include his or her dependants in the program. Dependants include
spouses and children under the age of eighteen. However, it can include a person up to the age of
twenty-three if enrolled in a university.

Income from Pension or Other Sources
1. Retired Pensioner
A Retired pensioner is that person who qualifies under the program and receives a monthly
income of not less than US $2000.00 through a pension or annuity that has been generated
outside of Belize.
2. Certification
i) 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.
ii) The company that grants the pension shall certify that the pension of no less than US
$2000.00 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.
iii) Certification by a Certified Public Accountant independent of the 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
$2000.00 per month.
iv) The applicant must present two (2) bank references from the company that is sending the
pension.
v) The company granting the pension must present a document outlining its pension scheme.
Requirement ii),iii),iv) could be omitted where the company sending the pension is considered to
be a Fortune Five Hundred Company.
Belize Tourism Board Page 4
3. Background Check
All applications are subject to a background check to be carried out by the Ministry of
National Security.




1. Personal/Household Effects
Qualified Retired Persons under the program can qualify for duty and tax exemptions 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. All items must be imported in country within 1 year after approval
into the program.
2. Transportation
a. Motor Vehicle
Qualified Retired Persons are strongly encouraged to procure a vehicle in Belize. However, we will
facilitate duty and tax exemption on an imported vehicle.
b. 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.
c. Boat
Any vessel that is used for personal purposes and for pleasure will be accepted under this
program.
Belize Tourism Board Page 5
3. Disposal of Duty Free Items
Qualified Retired Persons Incentive Program
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 3 years and upon proof that the transportation
that was previously imported to Belize was adequately disposed off, will another concession be
granted to import another mode of transportation.
4. 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 (Incentives) (Amendment) Act, 2001
commits an offence and shall be liable on summary conviction to a fine not exceeding five
thousand dollars.
5. Fee Structure
a. A non-refundable application fee in the sum of US $150.00 payable to the Belize Tourism Board
must be submitted with the application.
b. A program fee in the sum of US $1,000.00 payable to the Belize Tourism Board must be submitted
upon acceptance into the program.
c. Upon acceptance into the Program, a fee of US$200.00 must be paid to the Belize Tourism Board
for the issuance of the Qualified Retired Person Residency Card.
d. Each dependant is required to pay a Program Fee of US $750 to enter the Program.
NOTE: All payments must be made payable to the Belize Tourism Board and be in the form of US
cash, US bank draft or US cashier's check.

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The only difference from 5 or 6 years ago is the last statement before the itemised lists:
All applications are subject to a background check to be carried out by the Ministry of
National Security.