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A Qualified Retired Person shall be exempt from the payment of all taxes and levies on all income or receipts which accrue to him or her from a source outside of Belize whether that income is generated from work performed or from an investment.
REGULATIONS
All privileges, exemptions and regulations herein included are governed by the Retired Persons (Incentives) Act, 1999, No. I I and the ACT will serve as the basis for all purposes of interpretation.
1. PERSONAL HOUSEHOLD EFFECTS
Qualified Retired Persons under the program can qualify for duty and tax exemptions on new and used personal and household effects admitted as such by the Belize Tourism Board in charge of the program. A list of all items with corresponding values that will be imported must be submitted with the application. A one year period is granted for the importation of personal and household effects.
2. TRANSPORTATION (motor vehicle, boat, aircraft)
a. Motor Vehicle
Qualified Retired Persons are strongly encouraged to procure vehicles in Belize. However, we will faciitate duty and tax exemption on imported vehicles.
b. Light Aircraft
A Qualified Retired Person is entitled to import a light aircraft less than 17,000 kg. A Qualified Retired Person is required to have a valid Private Pilot license to fly in Belize. This license can be obtained by passing the requirements set by the Civil Aviation. However, if the participant has a valid pilot's license, that license only has to be validated by Civil Aviation Department in Belize.
c. Boat
Any vessel that is used for personal purposes and for pleasure will be accepted under this program.
3. DISPOSAL OF DUTY FREE ITEMS
If for whatever reason a qualified retired person decides to sell, give away, lease, or otherwise dispose of the approved means of transportation or personal effects to any person or entity within Belize, all duties and taxes must be paid by that person or entity to the proper authorities. ?
Qualified Retired Persons must note that only after 3 years and upon proof that the transportation that was previously imported to Belize was adequately disposed off, will another concession be granted to import another mode of transportation.
4. OFFENSES AND PENALTIES
Any person who knowingly makes any false declaration or entry in order to qualify for or renew any exemption or privilege granted under the Retired Persons Act, 1999 commits an offence and shall be liable on summary conviction to a fine not exceeding one thousand dollars.
5.FEE STRUCTURE?
a. A non-refundable application fee in the sum of US $150.00 payable to the Belize Tourism Board must be submitted with the application.
b. A Program fee in the sum of US $1,000.00 payable to the Belize Tourism Board must be submitted upon acceptance into the Program.
c. Upon acceptance into the Program a fee of US $200.00 must be paid to the Belize Tourism Board for the issuance of the Qualified Retired Person Residency Card
d. Each dependent is required to pay a Program Fee of US $750 to enter the Program.
NOTE: All payments must be made payable to the Belize Tourism Board and be in the form of US cash, US bank draft or US cashier's check.
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