Belize Qualified Retirement Program – 10 Things you need to know

August 30, 2024
by Belize Hub +

Belize Qualified Retirement Program

If you and your investment advisor have recently become best friends, you’re probably approaching retirement. Perhaps you’re considering moving abroad to stretch your savings. Start with Belize where ex-pats are treated like royalty and you may not have to look any further. Already impressed by the fact that Belize has idyllic year-round weather and English is spoken everywhere? Then Belize’s Qualified Retirement Program (QRP) should seal the deal!

1. Expect to find both safety and peace in Belize thanks to a stable government and stable currency that few countries in the Western Hemisphere can replicate. Ask ex-pats who moved to Belize specifically for the QRP and why they stay, and you’ll be told that they feel both safe and welcome here.

2. If you’ve the time and interest in doing some detective work, see if you can find anything comparable to the QRP in this hemisphere or elsewhere. This government program has been in place long enough to have attracted huge numbers of retirees, and once those on the fence discover that to keep your QRP status you must spend just one month of the year in Belize, then start packing.

3. The QRP program takes effect the minute one turns 45, so you can claim benefits at a fairly early age. Since Belize’s cost of living is low, ex-pats have found that they can afford to retire several decades early because the numbers added up.

4. QRP tax breaks are extraordinary. Import your personal effects (cars, boats, planes and furnishings) without paying duties and you also are exempt from income and inheritance taxes, even if you continue to work or make money on your investments.

5. Take advantage of dramatically competitive airfare prices offered by carriers like United, American, Delta and Southwest, each of which has established Belize routes. Fly back and forth more frequently than you might have imagined thanks to your QRP lifestyle.

6. Buying a home in Belize thanks to your QRP status is easy. Brokers are on the up and up. There are plenty of Belize real estate lawyers happy to walk you through the sale process from bidding to closing. And since every document is written in English, you needn’t worry about what you’re signing.

7. Upscale communities, filled with ex-pats who moved here just for QRP benefits, find that their real estate values remain stable because homes are built to high standards. State of the art plumbing, sewers, power and essentials required to live a life of leisure are all in place, so paired with tax advantages, retiring here just makes sense.

8. Retirees needn’t worry about finding and making friends when they leave home to settle in Belize. Because this welcoming nation has attracted so many people eager to take advantage of QRP benefits, there’s a chance you could run into people from your state, city and even community as you begin connecting with ex-pats.

9.Visit http://www.belizeinvest.org.bz/download/Government%20Investment%20Incentives%20-%20General%20/Qualified%20Retired%20Persons%20%28Incentives%29.pdf, to read specifics about how the QRP works to make an informed decision.

10. Pick the right Belize community to enjoy your QRP benefits to the max. Consider Orchid Bay, a lush residential enclave filled with ex-pats. Creature comforts and housing options are bountiful and include affordable beachfront condominiums, waterfront villas, single family homes and lots for those who wish to build their houses. Visit the Orchid Bay website and if you’re not already convinced that you are meant to live here, that should do it.

If you have more questions about retiring in Belize, put this phone number on speed dial: (470) 223-5493.

Photos by Orchid Bay, Belize

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