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Belize: A Tax-Free Paradise
Belize, formerly known as British Honduras, is located on the eastern coast of Central America in the heart of the Caribbean Basin, bordered by Mexico to the north, Guatemala to the west and south , and flanked by the Caribbean Sea to the east. At 23,000 sq km, Belize is approximately ten times smaller than the UK with a population of less than 330,000. The main centers of population are Belize City, the capital, on the coast, Belmopan in the middle of the country, and Corozal in the north, near the border with Mexico.
The climate is sub-tropical with an excellent annual temperature of 26 degrees Celsius (79 degrees Fahrenheit), and the humidity is tempered by refreshing sea breezes. Belize is, however, in the Caribbean hurricane zone; The hurricane season usually starts in June and lasts until November.
The cayes (speaking keys), offshore atolls, and barrier reef are the main attractions in Belize. The barrier reef, which is 185 miles long, is the longest barrier reef in the Western Hemisphere. The cayes are islands and/or mangroves, which are located between the mainland and the barrier reef, on the barrier reef, and in or on the barrier reef perimeters of the offshore atolls.
The island cayes, which are distinguished by their palm trees, provide the best opportunities for diving, snorkeling, fishing, sailing, sailing, sailing, and sea kayaking, as well as places to both nesting birds and turtles.
Belize is something of an ethnic and cultural melting pot. The ethnic group produced is approximately 50% Mestizo (people with both European and Amerindian ancestry), 25% Creole (descendants of African slaves and mostly British foresters), 10% Maya (descendants of pre-colonial populations), 6% Garifuna (descendants of Carib, Arawak, and West African people) and 9% others. The country is, however, ethnic harmony, and although Christianity (both Catholicism and Protestantism) is the main religion, other religions are tolerated.
The British began in Belize in the 17th century, mainly in order to fall and export tropical hardwoods, especially mahogany. After a long period of conflict between Spain and England, Belize became a British colony in 1871. The country became independent in 1964 and the country’s name was changed from British Honduras to Belize in 1973.
As a result of Belize’s historical connection with the United Kingdom, English is the official language (although Spanish, Creole, Garifuna and Mayan are spoken throughout the country) and the legal system is based on the constitution. . These factors together make Belize a particularly suitable destination for English-speaking vacationers, especially when it comes to shopping, and it is not surprising that the country has became home to many British and American expatriates.
Economically, Belize has historically depended on sugar, but now tourism contributes significantly to GDP and has a large financial services industry. Although the Belizean government has struggled to service the highest debt and refinance its debt before the financial crisis, the country has a stable economy. A long conflict with neighboring Guatemala aside (which was decided to Belize by the UN in 1975), Belize is a peaceful country. Crime, especially street crime, is a problem, but this is mostly limited to certain parts of Belize City. There is less threat from violence.
The currency of Belize is the Belizean Dollar (BZD) which is pegged to the US Dollar at a rate of BZD2 to USD1. Most hotels, resorts, restaurants, and tour operators will accept US currency, checks, or credit cards. However, in Belize, remember what you paid for!
Belize Eligible Senior Citizens Scholarship Program
The Belize Retirement Program is designed specifically for people who want to live in Belize and can prove stable and consistent income from investments (specifically or in Belize), money pension or other pension.
The main benefit of the retirement program is that it exempts eligible seniors from paying all taxes and duties on all income earned outside of Belize even if the income is through work or through investment.
An additional benefit is that all persons who have been designated as a Qualified Adult have the right, upon first entry into Belize, to submit their personal effects and “approved means of transportation” free of all duties and taxes. An agreement on transportation includes a vehicle that is no more than three years old; light aircraft less than 17,000kg (although aircraft owners must hold a valid pilot’s licence); and all vessels used for personal purposes.
Requirements and Requests for Services
Anyone 45 years of age and older from anywhere in the world can apply to become an eligible retiree. A person who is qualified can include his people in the job. Dependents include spouses and children under 18 years of age. However, residents up to the age of 23 can be included in the application if they attend university.
All applications for vacation assistance will be processed by the Belize Tourism Board in cooperation with the Ministry of National Security and the Department of Immigration and Nationality.
Those interested in the position should submit a completed application to the Belize Tourism Board with the following supporting documents:
Birth Certificate – A birth certificate for the applicant and all dependents
Marriage Certificate – A marriage certificate if there is a spouse and the spouse is a resident
Passport – Copies of the complete passport (including all blank pages) of the applicant and all residents, certified by a Notary Public. The copies must contain the passport number, the name of the principal, the number of the pages and the seal or mark of the Notary Public.
Proof of income – A statement from a bank or financial institution confirming that the applicant is a pensioner or annuity of at least USD2,000 per month ; and a financial statement from a financial institution, bank, credit union or housing association in Belize certifying that the applicant’s investment or deposit will make at least of USD2,000 per month or the equivalent of USD24,000 per year.
Medical Examination – Applicants must receive a complete medical examination including an AIDS test. A medical certificate must be attached to the application.
Photographs – Four front and four sided passport size photographs taken recently of the applicant and all dependents.
As mentioned above, the applicant must be able to prove that they have a monthly income of not less than USD2,000, and this must be provided from a pension or fund years produced outside of Belize. There are also several certification requirements, including:
When the company provides a pension, the company must prove that it has worked for at least 20 years by submitting proof of registration;
The company providing the pension must guarantee that the pension of not less than USD2,000 per month will be transferred to a reputable bank in Belize. This letter must be signed by the president, manager or legal representative of the company;
The company pension must be certified by a Certified Public Accountant independent of the company. This should verify the date the company was established and the authenticity of the letter mentioned above. It should also be confirmed that the signature obligation of the beneficiary is not less than USD2,000 per month;
The applicant must present two bank statements from the company that sent the pension; and
The pension provider must disclose a report on its pension plan.
If, however, the company sending the pension income is considered a Fortune 500 company, they can be exempted from the second, third and fourth rules of the name above.
All applications will be subject to a background check by the Ministry of National Security.
A non-refundable fee of USD150 must be submitted with the application. An additional fee of USD1,000 is payable upon acceptance into the retirement program. There is also a fee of USD2,000 for the issue of a Certificate of Competency. A fee of USD750 is paid to each recipient under the program. All these fees are payable to the Belize Tourism Board and can be paid in cash (US dollars), US banker’s draft or US cashier’s check.
More information about Belize’s vacation program, as well as other incentives designed to attract foreign investors to the country’s shores, can be found on the website of the Belize Ministry of Tourism and Culture.
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