Income requirements

Last activity 04 May 2012 by Jaanyvr

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RePeteMember12 February 2012 16:37:03

Hi folks. My wife and I are considering Belize as a full time retirement location and have a question on our pensions. My wife will have a very healthy pension thru her employer (this June if she desires) + two government pensions upon reaching 65.. I have taken my savings and paid down our mortgage to a point where the equity will supply us with enough nontaxable cash to buy something elsewhere, but has left me with no retirement income till 65. My question is this. Do the income requirements for permanent residency include family (couple) income total or will I not qualify as an individual because of my lack of pension till 65?

We are just staring our search and have a ton of questions.

RePeteMember12 February 2012 17:35:41

Looks like I found my answer.

"
Currently 1 in 15 of the population of Belize settled in the country through the QRP program, which amongst it's benefits does not require expat retirees to pay tax on income derived from outside of Belize. Applicants are encouraged to start their own business if they desire extra income beyond the US$2000 that which has to be deposited each month into a Belizean bank account. New retirees are also entitled to own rental property and to operate as a 'sleeping' or 'silent' partner in a Belizean business. The monthly deposit of US$2000 can be used for one person or a couple."

WealthshipsSerial expat12 February 2012 17:59:37

282

There is no income requirement to qualify for Permanent Residency in Belize.

There is an income requirement of $2000 usd/month for any applicant(s) - individuals or couples - in the QRP (Qualified Retirement Program).

So you need to decide which of the two residency programs fits your situation and needs best.

Hope that helps! Sharon Hiebing

guydabeerguyNew member03 May 2012 21:12:18

Can we apply for QRP or permanent residency after we arrive?

JaanyvrActive member04 May 2012 00:06:28

qrp before arriving
perm res after being in belize for a min of 12 month (without leaving
you will need to renew your visitor visa every month - first 66 month the cost is $50 bz (25 usd)each and after 6 month it is $100 bz each (50 USD)
being you are from canada the cot for perm rest is $1500.00 bz each, but there r other things you will need along with the application & fee..police report, aids test, doctors check & letter. Income verification - those things of course will cost you a few more dollars
but well worth it if you decide to stay.

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