Belize To Retain Retired Expat Incentives, Clarifies Tourism Board

by Phillip Morton, Investors Offshore.com

12 February 2010

The Belize Tourism Board has confirmed that incentives for expatriates retiring in Belize, under the Qualified Retired Persons program, will not be discontinued or become less attractive, contrary to erroneous third party reports, released recently.

“The government is very supportive of our initiative to attract retiree’s to Belize and has no intention of discontinuing the program,” the Belize Tourism Board clarified in a statement.

"We are pleased to report that to date there are approximately 1,000 Qualified Retirees who have made Belize their home under the Qualified Retired Persons (Incentives) (Amendment) Act, 2001. Belize continues to offer past, present and future retirees the following benefits:

• To enter and remain in Belize along with his or her dependents from time to time and for such time as he/she remains a Qualified Retired Persons;
• All persons who have been designated as a Qualified Retired Person shall be entitled to import his or her personal effects and approved means of transportation for his personal use free of all import duties and taxes;
• A Qualified Retired Person shall be exempt from the payment of all taxes and duties on all income or receipts which accrue to him or her from a source outside of Belize whether that income is generated from work performed or from an investment.”

To qualify for the scheme, applicants must receive a monthly income of not less than USD2,000 through a pension or annuity that has been generated outside of Belize.

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