To encourage and promote the inflow of foreign capital into Belize by offering certain tax exemptions and incentives to qualified retired persons. A qualified retired person:
- Must have a monthly pension or annuity payment in excess of US$1,000 (or equivalent).
- Must deposit
i) by the 15th of each month a minimum of US$1,000 (or equivalent) or
ii) by the 1st of April each year a minimum annual sum of US$12,000 (or equivalent) for his use in a bank, building society, credit union or other financial institution in Belize.
- May enter and remain in Belize from time to time.
- May on first entering Belize import into Belize his personal effects and an approved motor vehicle for his personal use free of all import duties and taxes.
- Shall be exempt from all taxes and levies on all income or receipts which accrue to him from a source outside Belize or from a person resident outside Belize and in respect of work performed or investment made outside of Belize.
- Shall be deemed to be non-resident as regards the use of international financial services in Belize.
- Must obtain a work permit to engage in gainful employment in Belize but may carry on business from within Belize if such business relates to activities carried on mainly outside Belize.