Belize's Best Retirement Spots: Where To Settle Down

Belize is an attractive retirement destination for many, offering a low cost of living, beautiful landscapes, welcoming locals, and the Qualified Retired Persons incentive program. The country boasts affordable living costs, natural beauty, a tropical climate, an English-speaking community, and various retirement programs.

The Qualified Retirement Program (QRP) is a popular option, providing retirees with tax and duty exemptions, residency status, and the ability to import household goods and vehicles. However, retirees should also consider challenges such as limited public healthcare, infrastructure, and city crime.

With its diverse lifestyle choices, stunning scenery, and enticing retirement programs, Belize is an attractive retirement option. This paragraph provides an introduction to the topic of Where to Retire in Belize, highlighting the country's appeal and some key considerations for retirees.

Belize Retirement Visa

Belize is a popular retirement destination for US citizens due to its affordable living costs, natural beauty, tropical climate, English-speaking community, and various retirement programs. The Belize Retirement Visa is part of the Qualified Retirement Program (QRP) and offers a range of benefits for retirees, including tax exemptions and residency status. Here is a detailed overview of the Belize Retirement Visa:

Eligibility Requirements:

To be eligible for the Belize Retirement Visa, applicants must meet the following criteria:

• Age: Applicants must be at least 40 or 45 years old, depending on the source.
• Income: Applicants must have a retirement income of at least $2,000 per month or $24,000 annually from a source outside Belize in an approved foreign currency (US Dollar, Pound Sterling, Euro, or Canadian Dollar). This income can include Social Security benefits, retirement contribution plans, and other retirement income sources.
• Dependents: Spouses and children under 18 years old can be included as dependents.
• Security Clearance: Applicants must pass a security clearance check carried out by the Ministry of National Security in Belize.
• Stay Requirement: Applicants must be able to stay in Belize for at least 30 consecutive days per year.
• Qualifying Countries: The program is open to citizens of Commonwealth countries (excluding Belize), the United States, EU member states, specific Asian-Pacific countries, and South American countries.

Application Process:

The application process for the Belize Retirement Visa is straightforward and can be completed by following these steps:

• Visit the Belize Tourism Board website and download the necessary application forms: the Member Application Form and the Dependent Application Form (if applicable).
• Complete the application forms electronically and print them.
• Gather all the required supporting documents, as outlined in the document checklist. These documents include birth certificates, marriage certificates, police clearance certificates, proof of income, medical certificates, and passport photographs.
• Submit the completed application forms and supporting documents to the Belize Tourism Board office in Belize City.
• Wait for the application to be processed, which typically takes between 1 to 2 months.
• Once approved, applicants will receive their QRP card, which serves as proof of their membership and residency status.

Costs:

The Belize Retirement Visa incurs the following non-refundable fees, which must be paid in US Dollars:

• Application Program Fee: $150 per application.
• Applicant Fee: $1000.
• Dependent Fee: $750 per dependent.
• QRP ID Card Fee: $200 per card.
• QRP ID Card Renewal Fee: $25 annually.

Benefits:

The Belize Retirement Visa offers several benefits to retirees, including:

• Residency Status: QRP members and their dependents receive residency status, allowing multiple entries into Belize without a visa. The resident card must be renewed annually.
• Duty and Tax Exemptions: QRP members are exempt from import duties and taxes on household goods, personal effects, motor vehicles, light aircraft, and motorboats during their first year in the program. They are also exempt from capital gains tax and inheritance tax on income derived from outside Belize.
• Land Purchase: QRP members can easily purchase land or property for residential use.
• Dependent Benefits: Dependents of QRP members can access employment in Belize, continue business operations outside the country, invest in Belize, and practice philanthropy.

Considerations:

While the Belize Retirement Visa offers many benefits, there are a few considerations to keep in mind:

• Work Restrictions: Retirees with QRP status are not permitted to work in Belize.
• Healthcare: Belize has a dual healthcare system, but public healthcare services can be limited, and access to private clinics may be expensive.
• Limited Retail Options: Belize has limited shopping options, with no large chain stores.
• Crime: Certain urban areas, such as Belize City, have experienced rising crime rates.

Overall, the Belize Retirement Visa provides a straightforward path for eligible individuals to retire in the country and enjoy the benefits of residency, tax exemptions, and a low cost of living.

Cost of living

The cost of living in Belize is at least 50% cheaper than in the USA. The average household income for a Belizean family of two adults and two children is $700 per month. However, it is important to note that the cost of living depends on your lifestyle and location.

Housing

The cost of housing in Belize varies depending on the style and location. A two-bedroom home in San Ignacio, inland Belize, can be as low as $600 per month, while a one-bedroom condo on the coast in Placencia or Hopkins, or on Ambergris Caye, can cost at least $1,200 per month.

For those looking to buy, a 2 or 3-bedroom home with a garden in the Cayo District can cost less than $150,000.

Utilities

Electricity is the most significant utility expense in Belize, with a residential rate of $0.45 per kWh. A couple living in a 2-bedroom home without an air conditioner can expect to pay around $50 per month, while those running air conditioning units in both bedrooms may see their bill average around $150 per month.

Internet costs range from $25 to $80, while cable TV is a fixed price of $30 per month, providing access to channels such as HBO, Food Network, CNN, and Fox News.

Transportation

Vehicle insurance, licensing, and fuel can add to the cost of living in Belize. Third-party insurance, which is mandatory, costs approximately $250 per year, while vehicle licensing is $100 per year, and a driver's license is $30 per year.

Fuel prices in Belize are relatively high, with gasoline ranging from $5 to $7 per gallon, while diesel tends to be cheaper.

Food

The cost of food in Belize varies depending on the location and type of food. A meal for two at a mid-range restaurant can cost around $15 to $25, while takeout from a roadside stand can be as low as $6 to $10.

Retirement Programs

The Qualified Retirement Program (QRP) is a popular option for retirees, offering benefits such as tax exemptions, import duty exemptions, and residency status. To be eligible, individuals must be at least 45 years old and have an annual retirement income of $24,000 or $2,000 per month from a source outside Belize.

The application and processing fees for the QRP are approximately $1,350 for the applicant and $750 for any dependents.

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Healthcare

Belize has a dual healthcare system, with both public and private options available. However, the country's healthcare system is still developing, and there is a general consensus that more facilities, specialised physicians and staff, and better equipment are needed. The public healthcare system is limited, with long wait times for serious conditions, and is mostly available in major cities like Belize City. The private healthcare system offers a wider range of services but is more expensive.

Public Healthcare

Public healthcare in Belize is controlled and funded by the Ministry of Health (MoH) and is available to all residents, including foreigners, free of charge. However, due to funding issues, patients may face long wait times for appointments and treatments. The quality of medical services in rural areas is also not as high as in urban areas, and emergency services are mostly limited to cities. The Karl Heusner Memorial Hospital (KHMH) in Belize City is the largest public healthcare provider in the country but faces challenges due to inadequate funding, including shortages of medical supplies and outdated equipment.

Outside of Belize City, there are seven state-run hospitals located in the district capitals, with three regional hospitals in Dangriga, Orange Walk Town, and Belmopan. These regional hospitals offer a broader range of services than the capital hospitals in Toledo and Corozal. Additionally, there is a network of around 60 state clinics that serve as the primary source of medical and dental care in rural areas.

Private Healthcare

Private healthcare in Belize offers superior services but at a much higher cost. Only about 15% of the population can afford private healthcare, including most foreign nationals. There are three main private hospitals in the country: La Loma Luz Hospital, Belize Medical Associates, and Universal Health Services. Private healthcare facilities often have more specialised physicians and equipment, but patients are expected to pay out of pocket or rely on private health insurance.

Health Insurance

Expats in Belize are advised to obtain comprehensive health insurance, either through a local provider or an international policy that covers emergency evacuation to the US or other countries. Emergency evacuation coverage is particularly important, as an ambulance flight can cost thousands of dollars.

Medication and Pharmacies

It is recommended that expats with pre-existing medical conditions carry a letter from their doctor describing their condition and listing their medications. When travelling to Belize, it is important to keep medications in their original containers with proper labelling. Pharmacies in Belize offer low prices and are generally well-stocked with generic medications in larger towns. Drugstores often sell medications over the counter that would require a prescription in other countries, but it is still advisable to bring prescription medications from your home country.

Dental Care

Dental care in Belize is known for its excellent quality and reasonable prices.

Mental Health Services

Belize has integrated psychiatric practitioners into state-run medical care services, making mental health services accessible across the country. Most inpatient psychiatric consultations and treatments are provided at the Rockview Hospital, the national mental hospital. Belmopan Hospital in the Western region also has an acute psychiatric ward offering various mental health services. Each district hospital has two psychiatric staff members, and the introduction of these practitioners has led to improvements in mental health care.

Overall

While Belize's healthcare system has its challenges, it has been gradually improving. For minor ailments and emergencies, public clinics and Red Cross emergency stations are available throughout the country. However, for more specialised or complicated treatments, many expats choose to seek medical care in the US, Mexico, or Guatemala.

Taxes

Belize has a favourable tax environment for retirees. The country offers the Qualified Retirement Program (QRP), which allows retirees to move to the country tax and duty-free. The QRP is a retirement program implemented by the Belize Tourism Board. It is available to anyone over 45 years old who can prove a minimum monthly income of $2,000, or $24,000 annually, from a source outside of Belize. The program provides tax exemptions on all income earned outside Belize, including US Social Security and retirement funds, and there is no capital gains tax.

As a QRP, you are considered a non-resident for banking purposes, meaning you can set up a US dollar bank account with a local or offshore bank in Belize. You are also allowed to engage in employment as long as most of your business activity takes place outside Belize and is conducted exclusively with non-residents.

As a US citizen living in Belize, you may still be required to pay US taxes for expats. However, your US income is not taxed by Belize. In terms of property taxes, real estate taxes are relatively low, and foreigners enjoy the same property rights as citizens.

Visa options

Belize offers two primary visa options for retirees: permanent residency and the Qualified Retirement Persons (QRP) program.

Permanent Residency

To be eligible for permanent residency, you must live in Belize for at least 50 consecutive weeks out of a full year. During this time, you cannot leave the country for more than 14 consecutive days, or your application may be voided. You will need to obtain a visitor's visa or tourist card and renew it every month until your permanent residency application is approved. Visitors can stay in Belize without a visa for up to 30 days, with a $100 USD renewal fee for monthly extensions. After receiving permanent residency, you can apply for full citizenship after five years.

Qualified Retirement Persons (QRP) Program

The QRP program offers a more flexible residency route. Individuals over the age of 45 (some sources say 40) are eligible to apply, and the program also includes their spouse and children under 18 as dependents. Members can travel in and out of Belize freely and only need to spend one month per year in the country to maintain their status. To be eligible, you must prove that you can deposit $24,000 per year into a Belizean bank account. This income can come from a pension, retirement savings, or a Social Security-related fund. As a QRP, you won't be able to work in Belize, but you can work online for offshore clients in other countries.

Other Options

There are a few other options for staying in Belize for an extended period:

• Visitor Extension Permit: This option allows you to stay in Belize month by month with no long-term commitment. You obtain a one-month entry stamp on your passport when entering the country and then request a Visitor's Permit Extension from an immigration office after 30 days for $100 USD. This permit can be renewed indefinitely, and you cannot work or engage in business activities during your stay.
• Visitor Long Stay Permit: This permit is valid for six months and costs $500 USD. Applicants must be citizens or permanent residents of the EU, UK, USA, or Canada, with a minimum annual income of $75,000 for individuals or $100,000 for those with dependents. This permit does not allow employment in Belize and cannot be renewed.

Frequently asked questions