Belize real estate

Residency, retirement and living

Entry and visa requirements

Visitors from North America, most European and Commonwealth countries do not need a visa.  You are permitted to stay in Belize for a period of 30 days. Your passport needs to be good for six months after your departure date and you may be asked to show a return ticket.  If you need to stay longer, your 30 days visitor allowance can be extended at a cost of US $25-50 per month, depending on the length of extension.  There are special programs available for those wishing to retire in Belize.  Review the Belize retirement section below.

Residency

Applicants must live in Belize for one year to be granted permanent residency. During this period, you cannot leave the country for more than 14 consecutive days.  In the past this requirement has been waived for retirees with a regular source of income, skilled people and investors.


The application process costs between US$250 to US$2,250 depending on your country of origin and takes 2-3 months if all requirements are met.  Applicants need to provide evidence of good health, proof of funds and a clean criminal record.


Some of the residency requirement overlap with those required for the Belize retirement program.

Climate

Belize enjoys a tropical climate, often with a brisk prevailing wind from the Caribbean Sea.  The rainly season is between June and August and temperatures average around 80˚F (26.6˚C).  The northern part of the country receives less rainfall than the south.  Belize lies in the hurricane belt but historically has not been struck by as many hurricanes as the South-Eastern US or the Texan gulf coast.  Hurricane insurance is widely available in Belize via local insurance companies, re-insured in the US and Europe.

Health

While most key tourism and investment areas have doctors and dentists trained in the US, for top-flight medical care, expatriates in Belize still may fly to Miami or Houston.  In rural areas medical care is limited or unavailable.  Routine medical care (eg dental visits) can cost 2/3 less than in the US.

Safety

Crime can be a concern in Belize although mainly restricted to Belize City and other urban areas. The country has a higher reported crime rate than Nicaragua, Costa Rica or Panama.  The Government has responded by establishing a special tourism police in areas most frequented by tourists - which largely overlap with the main Belize real estate areas sought out by international buyers.. As is the case anywhere, visitors should exercise caution and good judgment when visiting.

Retirement program

Belize's Retired Persons Incentive Program allows qualifying individuals a range tax benefits.   The income requirement, at US $2,000 per month, is one of the highest in the region with the result that the actual number of retirees under the program in Belize is relatively small.

Benefits of the Belize retirement program include: Tax-free entry of the retiree’s household goods, car, boat or light aircraft and exemption from the payment of taxes on income outside of Belize whether that income is generated from work performed or from an investment.

Income requirement: US $2,000 per month

Other requirements: Applicants need to be aged 45 or older and pass a background check by the Ministry of National Security.  A person who qualifies under the Belize retirement program can include his or her spouse and children under the age of 18 in the program.  A medical certificate, police record and marriage certificate (if applicable) are needed as part of the application process.

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