Escape
From America Magazine
Belize's New Residency
Program - Some Say It's The Best In The World!
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Residency
In Belize. Get It While You Can - Belize has rescinded its
Investors Passsport Program, but there is still a way to get a Belizean
Passport and one of the most important things you can do to protect your
future and the future of your family is to get a second passport. The process
of getting residency in Belize is straight forward and uncomplicated, especially
when you have Bill & Claire Gray providing an easy to read explanation
of how to go about getting Belizean residency for you and your family.
Bill & Claire Gray, authors, Belize Relocation Guides and long time
residents of Belize supply the answers, the facts and the forms for residency
in Belize through the Belize 'residency' program, plus they provide you
with the pathway to a passport, a work permit and more. When will Belize
rescind it's residency program just as they did their passport program?
You can wait and find out, or you can get this report for 20 bucks and
insure your future. Retirement? This report also has all the forms
and instructions to gain retirement status in Belize. |
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| It's been
years in the making but finally on September 15 1999 the government of
Belize announced it's new residency program for gringos. Officially
called the Belize Retired Persons Program it has a lot to offer a
select group of people. The law offers so much freedom that attorneys are
saying it is the best program of it's kind anywhere in the world. You don't
really have to be retired , you don't have to spend a certain amount of
time in Belize and you can live tax free. You have to admit that sounds
almost too good to be true. |
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Who Can
Qualify?
Any citizen
of the United States , Canada , The U.K. and Northern Ireland or Belize
who is at least 45 years old. Dependants of the qualifying person include
spouses and children under 18 , or up to 23 if enrolled in a university.
The qualifying
person must have either a pension or annuity of any type, including
Social Security of at least $1,000 U.S. per month , or $12,000 U.S. annually
. Or an income from any source outside of Belize of $2,000 U.S. or
$24,000 U.S. per year. Bear in mind this could be from virtually
any source, business, investments, stocks, bonds, rental property , as
long as it is generated outside of Belize. The income requirement
would remain the same regardless of the number of dependants the applicant
has.
Once accepted
into the program , the qualified retired person would be required to deposit
this money in U.S. funds in any bank in Belize, either monthly or by April
1st each year.
What If
I'm Not Reade To Retire?
Even though
this is called a program for retirees you do not have to really be
retired to qualify and benefit. Note the following examples:
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You can set
up an office in Belize and run your business from there, (taking advantage
of the low overhead costs , and tax free status we might add ) and still
qualify for this program, as long as none of the money your company earns
comes from a source within Belize. In this age of e-commerce and telecommuting
, this scenario could work for a vast number of people. |
You can be an
artist , writer , or photographer, drawing inspiration from
the tropical beauty and larger than life characters in Belize, and still
qualify under the "retiree " program, as long as you don't sell any
of your work in Belize.
Live Tax
Free In Belize
Under this
law once you become a Qualified Retired Person , you are exempted from
"the payment of all taxes and levies on all income or receipts that accrue
from a source outside of Belize...whether such income is passive or earned
and whether or not such income is remitted to him in Belize."
What does this
mean ? You'll be exempted from all Belizean taxes, including income tax
and business tax. Some feel this is the best benefit of the program.
Import Your
Belongings Duty Free
You will be
allowed to bring the following with you into Belize and not have to pay
customs duty:
Up to $15,000
of your personal belongings and household items. These can be new or used
and there is no specifications as to what items this can include.
Any type of
motor vehicle up to three years old. You may bring in a new vehicle every
5 years, and sell or export your previous vehicle.
Any type of
boat used for personal purposes or pleasure.
Private aircraft
( weighing less than 17,000 kg.) You must have a Private Pilot license
to fly in Belize. You can get a license in Belize or have your exsisting
license validated there.
What will
It Cost?
| In total
it will cost $700 U.S. to join this program . A non-refundable application
fee of $100 U.S. must be submitted with the application. Then once you
are accepted a program fee of $500 U.S. is required. Another
$100 U.S. is required at the time your Qualified Retired Person Status
identification card is issued.
Remember that
these fees are paid only by the qualifying person and that his/her spouse
and dependants are accorded the same status at no additional charge. |
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There is no
minimum residency requirement for this program. In other words your free
to come and go as you please , you don't have to spend a certain amount
of time per year in Belize. And you can terminate your participation at
any time. We like the freedom this affords and see it as a tremendous advantage
over other countries immigration packages.
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| Bill and Claire Gray are
the authors of Belize Retirement Guide: How
to live in a Tropical Paradise on $450 a Month, as well
as numerous special reports and articles on living in Belize and
have just finished a video. They are American ex-pats who have lived in
Belize for over 10 years. Visit their website at www.belizeretire.com |
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