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Re: Retirees enrolled in Belize's QRP Program [Re: Marty] #443096
07/23/12 07:14 AM
07/23/12 07:14 AM
Joined: Oct 1999
Posts: 62,664
oregon, spr
Marty Offline OP

.
Marty  Offline OP
from friends....

Don't you get all your stuff in, including furniture, boats, and vehicles, duty free?
That alone would make it worth the while for a Belizean to apply for QRP.

=======

IDK. Spouse or dependent children (even grandchildren, I believe) of Belizeans are entitled to Citizenship and they can get a dependent's visa for about 25$/year to remain in country while waiting for citizenship registration to process. That makes more sense to me than QRP although QRP has gone through some significant changes since its original inception.

Can't imagine many Belizeans would want to obligate to deposit US$2K/mo. into a BZ$ account for five years and last I heard that's what foreign national QRPs agree to do.

The pie chart Belizeans may fall under a program that was talked about some years ago to encourage Belizeans abroad to retire to Belize. If I recall correctly the incentives were low cost lots and/or homes, plus importation of duty free household goods and possibly even vehicles. Maybe this category of retired Belizeans are counted in the total statistics.

======

I believe that $2000 per month is forever and you have to agree not to be employed the whole time as well, although you can start your own business. You do get one vehicle in for free and can bring in most, if not all, of your "personal" possessions (unless you have a car collection).

Re: Retirees enrolled in Belize's QRP Program [Re: Marty] #443100
07/23/12 07:59 AM
07/23/12 07:59 AM
Joined: May 2000
Posts: 6,826
San Pedro Town, Ambergris Caye...
Amanda Syme Offline

.
Amanda Syme  Offline
It really is a bit more involved than posted above, there are exceptions to some of the rules and there are restrictions on importation of goods etc.

Certainly it would be wise to analyze the differences within each residency program in order to see what is most suitable for your family.

QRP does not mean you cannot be emplyed, but it does mean you are not emplyed in Belize. The $2K bank deposits can be paid in a lump sum in the form of say a house payment.

QRP does not require that you live here for a full year before qualifying.

I believe the BTB website has the current info posted but as with anything, the intricacies are interpreted by the govenment rep that you deal with.

I would not presume that any of the comments posted here are entirely accurate so be sure to go to the source to receive the current rules and regs.

No matter how you choose to proceed a good start is coming down and visiting and seeing if you love the people, the place, the food and if you can handle the power outages and occassional lack of sophistication.

Re: Retirees enrolled in Belize's QRP Program [Re: Marty] #443154
07/24/12 06:34 AM
07/24/12 06:34 AM
Joined: Oct 1999
Posts: 62,664
oregon, spr
Marty Offline OP

.
Marty  Offline OP
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.

================

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

=============

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 pilotís 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 cashierís check.

================

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.

Re: Retirees enrolled in Belize's QRP Program [Re: Marty] #443191
07/24/12 12:19 PM
07/24/12 12:19 PM
Joined: Jul 2012
Posts: 8
Arizona
Tagurrit Offline
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Tagurrit  Offline
I think you're both right. Nothing in a Government, any Government, is "forever", and the QRP program isn't for everyone in every situation either. I get the same kind of different stories with different local officials in my little town too. This discussion about the vagaries of "how it works" is giving me a good idea of what I can expect. And yes of course I would come to Belize and see if I did like it before I did anything permanent. I live in a rural area with a population of about 250 people so I'm used to power outages (as long as two weeks one winter!) and lack of local support. Thank you all for your feedback. !!!

Re: Retirees enrolled in Belize's QRP Program [Re: Tagurrit] #443203
07/24/12 03:53 PM
07/24/12 03:53 PM
Joined: Jun 2011
Posts: 149
San Pedro Town, Belize
C
ColdwellBankerSP Offline
.
ColdwellBankerSP  Offline
C
Polaris Ranger 500 four seater = $48,000BZ without QRP
Polaris Ranger 500 four seater = $26,000BZ with QRP

(plus all your household effects)

1) Residency for applicant and family
2) Citizenship program to be included soon
3) Use US$ accounts in Belize (not avail to residents)
4) Two week approval period

IT WORKS AND makes sense for a lot of people. It's getting better. Thank you BTB and GOB for a fine start in helping folks retire in Belize!

We hope to welcome many more babyboomers and modify the program according to the applicants feedback.

Re: Retirees enrolled in Belize's QRP Program [Re: Marty] #443205
07/24/12 04:14 PM
07/24/12 04:14 PM
Joined: Jun 2005
Posts: 2,018
Sequim, WA & San Pedro
Loansum-Al K Offline
.
Loansum-Al K  Offline
The $2,000 US income doesn't have to come from a pension. It can come from a business that you own in the US and that you still retain ownership in........tax returns are needed to show proof of that income.


I'm happier than a pig in s__t...a foot on the sand...and a Belikin in my hand!
Re: Retirees enrolled in Belize's QRP Program [Re: Marty] #443252
07/25/12 08:03 AM
07/25/12 08:03 AM
Joined: Oct 1999
Posts: 62,664
oregon, spr
Marty Offline OP

.
Marty  Offline OP
From Lan Sluder, BelizeFirst.com:

There's some talk that one of the upcoming changes in the QRP is that it will provide a path to Belizean citizenship. Don't know the details.

Re: Retirees enrolled in Belize's QRP Program [Re: Marty] #443263
07/25/12 09:49 AM
07/25/12 09:49 AM
Joined: Nov 2000
Posts: 5,518
Birdland - 1 mile north
ScubaLdy Offline
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ScubaLdy  Offline
Mr. Heridia told me last year to hold off on my citienship application because the laws were going to change. I'm waiting to hear when - have my paperwork ready.


Harriette
Take only pictures leave only bubbles
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