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Belize allows U.S. citizens to enter the country without a visa and remain there as a tourist for a maximum of 30 days per trip. So, if you wish to stay for longer than 30 days, you need to seek permission to remain in the country.
Proof of an onward travel ticket and sufficient funds to cover the cost of your stay may be requested upon arrival.
For non-Americans, Belize offers income tax-free living, with legal residency easy to obtain through the country’s Qualified Retirement Program (QRP).
Foreign residents pay no tax in Belize on non-Belize income. So, if you are British, German, Australian, or Irish, for example, you could join the QRP and reduce your overall tax burden to virtually nothing.
The cost of living is so low you can move here with only your social security check. And, if you want to live in Belize it’s close enough to the States that you can even drive down.
Reviewed By Lief Simon
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
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Belize’s Qualified Retirement Program (QRP) isn’t, strictly speaking, for retirees only.
To qualify for Belize’s QRP, you must be at least 40 years of age and receive retirement income of at least US$2,000 per month or US$24,000 per year.
This can come from a pension, annuity, Social Security, investment account, or other source. Also, you must deposit this amount in a bank or financial institution in Belize.
This residency program’s incentives include a permanent exemption from any Belizean taxes including income tax, capital gains tax, estate tax, and import tax on household goods, automobiles, boats, and even airplanes.
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There is no restriction on the value of the household goods you can bring into Belize, however, it must seem feasible that the size of your home reflects the amount of household goods you wish to bring.
For example, if you are moving into a one-bedroom cottage you won’t be allowed to bring four bedroom sets and six TVs. So, if you have a mansion, that is not a problem.
The QRP is aimed at retirees, so it does not qualify you for the ability to work locally in Belize. You could, however, take up remote work or earn side income online. You just can’t take on traditional “employee” work locally.
The benefits of the QRP could be significant, especially if you have business income from outside the States.
As a non-resident American, your first US$126,500 (or US$253,000 for a couple) in foreign-earned income would be exempt from U.S. tax under the Foreign Earned Income Exclusion. And, again, under the QRP, you’re also exempt from Belize income tax.
Residency in Belize can lead to a second passport and dual citizenship in this country.
Reviewed By Lief Simon
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
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Belize has different options for getting permanent residency. The QRP program is for retirees. To be eligible, you need to be at least 45 years old, show proof of a steady income, and fulfill specific financial criteria.
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