Qualifying For The QRP In Belize
“Kathleen, I have kept up with all your excellent info over the past year-and-a-half regarding Belize. I have a situation that I don’t believe you’ve addressed regarding the required US$2K per month for the QRP.
“Currently my husband and I have a monthly income that is within those parameters; however, part of this income is a result of our selling our business property with owner financing. We have been told by the mortgagees they may pay us off ahead of time (we are in the first year of a 20-year amortization). Would we need to take a portion of that and put in some type of structure (annuity, etc.) in a Belizean bank or here in the United States? How would that need to be handled?”
–Sharon T., United States
Yes, exactly. You would need to put some amount of capital into some investment vehicle to generate enough income to guarantee you a minimum income of US$2,000 a month. For example, if you have US$1,000 a month in Social Security, then you’d need another US$1,000 a month. That additional amount could come from most anything.
For more detailed recommendations, you could speak with an agent experienced at helping retirees qualify for Belize’s QRP program.
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