i struggle with life.......my question is this, i am torn as to weather i should try to enter belize as a QRP (the retirement program) or just try to come in and gain residency. can some one tell me what the diff is? i think that if i come in under the qrp program i am not allowed to work, ofcourse based on what work seems to pay.....may not be worth it other than to entertain myself anyway. another question is if i come under the qrp, does that keep me from opening a biz? specially if im hiring locals? if i come in under the qrp and decide to rent my house as a vacation rental for some income, is that considered work? my house is on ac.
from what I have researched about the QRP,you can not do any type of work period,not even voulenter your time. But you do recieve tax breaks on what you bring into the country for the first year, for your household,car,and boat you can buy tax free every 3 years. I am not sure about renting your house how that would go but Iam sure someone else could tell you. If you want to open a business you can apply for a selfemployed work permit which will alow you to do that, or voulenter if you wish. If you are going to do either I would sugest you hire a person to help you out with this, asI was told the process can be dificult at best to do on your own. If you are in need of a contact for this you can PM and I can give your the name of someone who comes highly recommeded from people on AC. Good luck.
thanks for the info, im still a few yrs out, i hae high school kids......grrrr.
im just trying to get a feel for which way i want to go and the benefits/disadvantages of each.
Did anybody mention that you have to be over 45 to get QRP?
yes they did, wife is already there, sigh, shed scream if she knew i was putting that out on the net, lol. im still a few yrs away but apporaching that on the same time frame as the kids hitting college :^)
I read somewhere in the overwhelming amount of information, that QRP can not become residents, they are considered Permanent Visitors. That might be something to take into consideration.
Posted By: Cooper
Re: oh the horror - 01/26/08 01:58 PM
You can not rent your house under the retirement residency, as you have to list and register your house as a business if you are drawing an income from it.