Obtaining a Belize retirement visa is possible for those who are first able to remain in the country based on temporary residence for investment or employment purposes, among others.
Temporary residence is a mandatory prerequisite for obtaining the permanent resident status and, for entrepreneurs, even the Belize passport by investment in some cases.
Our team of company formation agents in Belize is ready to answer your questions concerning residency and your retirement in the beautiful country. Read below to find out more about the main conditions and reach out to us at any time during the pre-relocation process for more information.
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Retiring in Belize
Belize offers multiple benefits for those looking to retire to the beautiful state. The Qualified Retirement Program is suitable for those who wish to relocate here without the mandatory need to open a company in Belize.
If you want to apply for a Belize retirement visa under the dedicated program you will need to comply with the applicable mandatory requirements:
- Be 40 years or older;
- Have a retirement income of at least $2,000 per month (not derived from Belize commercial activities). Retirement income sources can include pension, social security benefits, money from inheritance, personal savings, and others;
- Pass a security clearance verification;
- Stay in Belize for at least 30 consecutive days each year;
- Be a citizen of one of the countries that qualify for this programme (please see below).
Applicants are required to provide supporting documents that prove their compliance with all of the aforementioned conditions. Please note that the list above is not an exhaustive one and that applications made under the Qualified Retirement Program are carefully evaluated.
Under the program, the applicant can also bring dependents with him or her to Belize. They include the spouse and minor children.
Applicants from the following countries are accepted for the retirement program:
- The United States of America;
- All Commonwealth countries (not including Belize);
- EU-Member States;
- All South American Countries;
- Countries from the Asian-Pacific region, such as Australia, China, India, Japan, Singapore, Thailand, Vietnam, and others.
Our lawyers in Belize can give you more information about the application process.
If you are a foreign investor under the age of 40 who is looking forward to relocating to Belize faster, please read below to find out more about your options or ask our agents about Belize company formation and how you can remain here after you set up a business.
The benefits of obtaining the Belize retirement visa
Being accepted in the Qualified Retirement Program will mean that:
- The person will receive Belize residency status, and their dependents will also receive a resident card. This will allow them to live in the country without a visa;
- The individual is entitled to import duty and tax exemption on certain types of products (however, only for personal use);
- The retired individual will be exempt from all taxes and duties on income received from outside of Belize;
- Holders of the Belize retirement visa obtained under the program can buy land or a home (only for residential use).
Permanent residency for retirement in Belize
Foreign nationals who intend to remain in Belize for long-term purposes, even indefinitely when they choose to retire here, will need to apply for permanent residency. For those who intend to make their relocation permanent, acquiring citizenship, and even the Belize passport by investment, can also be an option.
The conditions for permanent residence are the following:
- Lawfully reside in the country for at least 1 year before making the application; Belize residency by investment can be an option;
- Remain in the country during the one-year period (only leave the country for a maximum than 14 days in total);
- Provide sufficient proof when making the application to the Immigration Office that you are and will remain financially stable;
- Provide evidence that you have not been convicted of a crime that can be liable to a sentence by imprisonment of twelve months or more.
When applying for permanent residence, which may be considered a Belize retirement visa, individuals will also need to pay certain fees based on their nationality:
- European countries: BZD 6,000;
- Commonwealth countries: BZD 3,000;
- Central American countries, Mexico, and Dominican Republic: BZD 1,500;
- CARICOM countries: BZD 1,000;
- Other countries: BZD 4,000.
Before paying the fees for permanent residence, all applicants will pay the ones for temporary residence which have a value of 1/5 of the fees listed above.
Please note that the fees above do not include any fees relating to legal assistance.
The documents needed for permanent residency, also meaning for retirement purposes, are listed below by our experts:
- Identification documents: a valid passport, with the arrival date to Belize; the applicant will also submit a set of recent photographs;
- Medical documents: a medical certificate issued by a licensed Belize practitioner as well as a number of medical tests;
- Police documents: the applicant submits a police record from Belize; all dependents (if any) submit their own police record;
- Personal status documents: these focus on proof of financial stability, as well as the employment status or investment status, for those who open a company in Belize.
Belize residency by investment
For some foreign nationals, the route to retire to Belize will be through an investment. The Belize company formation process is a straightforward one and there are no special requirements or limitations on foreign ownership or the nationality of the investor. The one condition to enter the country is to have a visa, and this is a requirement that depends on nationality.
Temporary residence, which can also be used to remain in the country under a Belize retirement visa, is awarded for 1 year, is renewable and it is subject to an investment made in the country with a value of no less than BZD 500,000.
Alternatively, one can enter the country based on a visa for students or for employment. The Belize retirement visa is not a category included in the visa types per se, however, remaining in the country for retirement purposes is a possibility available to investors as well as those who are able to show that they are self-sufficient.
The initial visa fees to enter the country under a multiple entry visa depend on the nationality of the applicant. Most foreign nationals pay a fee of BZD 300 while Chinese nationals as well as Indian or Thai nationals, among others, are subject to different fees.
Company owners in Belize who apply for the permanent residence permit that will allow them to retire in the country will need to provide the company’s registration documents as well as its licenses, when applicable. They will also provide a recent business tax assessment issued by the Tax Service.
Foreign nationals can be accompanied by their spouse or children. When this is their choice, the family members will present their documentation and apply separately.
Contact us if you wish to know more details about the Belize retirement visa options and how you can immigrate to Belize.