Qualified Retired Persons Incentive Program: A Benefit of Retiring in Belize
Retiring in Belize
Retired Persons Incentive Program
The Retired Persons Incentive Program (RPI) is open to anyone 45 years old and older providing that they meet certain minimum requirements. The RPI currently requires that all candidates prove that they receive a monthly income of US $2,000 or more through a pension or annuity.
Belize welcomes RPI qualifying participants, recognizing the value and cultural benefit that people from around the world bring to the table. As natives and expats relax in a laid-back melange of English-speaking cultures, RPI qualifying participants are able to make the most of the experience by enjoying untrammeled access to their income.
The first immediate benefit for qualified RPI participants is that Belize will waive any and all customs duties on taxes when you import your personal effects. The RPI also allows participants a generous transportation allowance, meaning retirees can also bring over their car, boat or light plane without having to pay any import duties or taxes.
Although RPI qualified participants do not enjoy full citizenship rights in Belize, they are rewarded by a full exemption from all taxes and duties on all income and revenue generated outside of Belize. These generous tax provisions allow RPI qualified participants to enjoy the full fruits of their hard-earned income while soaking in the tropical sun on a peaceful beach.
Belize restricts the import of light aircraft to a maximum of 17,000 kilograms. Any qualifying RPI participant will be required to obtain a valid Private Pilot license to fly in Belize. The license can be obtained either by the Civil Aviation Department in Belize certifying a valid pilot’s license from a foreign state or by successfully passing the requirements set forth by the Civil Aviation Department.
If you’re considering retiring in Belize, it’s important to choose the right property. Orchid Bay is a well-established community of retirees and expats, and is home a wide variety of villas and condominiums with excellent land nearby for sale. Do not hesitate to contact them with any comments or queries.