Belize Qualified Retirement Person Incentive Program | An Incomplete Guide

Overview:

Belize’s special residency visa program, the QRP (Qualified Retirement Person Incentive Program), has been in operation since the 1990s and has now become one of the most popular visa programs in Central America.

This program was implemented by the local government to attract overseas tourists and stimulate economic development. It is a program that exchanges income/investment for residency rights. Originally, it was a retirement visa program, but under the management and adjustment of the Belize Tourism Board, it has gradually evolved into Belize’s primary immigration visa option for all non-residents over the age of 40.

Eligibility Criteria:

Currently, to become a QRP member, you need to meet the following four basic requirements:

1. Be at least 40 years old, in good health, with no criminal record, and commit to not being employed in Belize (you can be self-employed or participate in volunteer activities);

2. Prove a stable income of $2,000 USD per month or invest $500,000 USD in Belize.

• If applying for the QRP program through income, your income must come from non-employment sources such as pensions, trust inheritances, deposit returns, or investment earnings.

• If applying for the QRP program through investment, you must employ at least five Belizean employees.

3. If obtaining the visa through proof of income, you must reside in Belize for at least 30 days each year; if obtaining the visa through investment, you must reside in Belize for at least 90 days each year.

4. The primary applicant must be from a Commonwealth country, the United States, the European Union, South America, or an Asia-Pacific country, including China, Japan, Korea, and India.

QRP Membership Privileges:

Currently, by proving income or investment to become a QRP member, you can enjoy the following four major benefits:

1. Freely reside in the country, with no visa required for entry and exit;

2. Tax incentives: Even if QRP members become tax residents of Belize, your overseas income, local asset earnings, and inheritance will still not be subject to tax in Belize;

3. The right to purchase land and houses;

4. After legally residing in the country for five years, QRP members who have chosen the investment option are eligible to apply for permanent residency in Belize.

Application Process:

The entire application process for the QRP program is very simple and can be completed online. Once you have prepared all the required documents, you can log in to the relevant page on the Belize Tourism Board’s official website, register an account, download, fill out, and upload the application form, application letter, and all required documents, and then wait for notification of approval.

The documents required for this program include:

• Applicant Identification Documents: This includes the primary and secondary applicants’ passports, four passport-sized photos, birth certificates, marriage certificates, and other documents proving the relationship between the primary and secondary applicants.

• Application Forms: You need to download, fill out, and upload an application form online; also, download, fill out, and upload a commitment letter promising to transfer at least $2,000 USD per month (or $24,000 USD per year) into a Belizean bank account.

• Proof of Income: You need to provide all relevant income documentation, including a certificate issued by a financial institution.

• Criminal Record Certificate: All adult primary and secondary applicants must provide a criminal record certificate issued within the past six months from their current place of residence.

• Medical Examination Certificate: All primary and secondary applicants must provide a medical examination certificate issued within the last three months, including an AIDS test.

All documents from outside Belize must be notarized, and non-English documents must be translated into English.

After receiving your application, the Belize Tourism Board will conduct a background check on your income and investment status. The review process for the Belize QRP program typically takes about 3-4 months. The visa fee is $1,350 USD for the primary applicant and $1,100 USD for each secondary applicant.

In most cases, the approval rate for the QRP program is very high. If your application is rejected, it is likely due to insufficient income, a criminal record or tendencies that threaten public safety, a history of illegal immigration in North America, or a lack of travel history that suggests you are unlikely to reside in Belize long-term.

If your application is approved and you become a Belize QRP member, you will need to log in to the Tourism Board’s special website once a year, fill out the renewal application form (the same process applies if you lose your residency card), and renew your residency card. Each renewal requires a payment of $25 USD per person for both the primary and secondary applicants.

Dependents:

In the Belize QRP special residency program, the primary applicant’s spouse and children under 18 can enter the country together as secondary applicants.

Visa Validity:

The Belize QRP program is permanently valid, but members are required to submit bank statements and other financial documents to the Belize Tourism Board annually in order to renew their residency card.

Participants in the QRP program who invest $500,000 USD in Belize and legally reside in the country for five years are eligible to apply for permanent residency.

Foreigners who have legally resided in Belize with permanent residency for five years, or who marry a Belizean citizen, can apply for a Belize citizenship.

Useful Links:

Belize QRP Program: https://www.belizetourismboard.org/programs-events/retirement-program/