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ANALYSIS OF RETIREMENT OPTIONS (updated Dec 2005)

Residency vs QRP vs. Tourist 

(All figures are in US Dollars)

Residency 

Couple

App Fee (per person)

$1000

$2000

Residence Card

$62.50

$125

Total

$2275

Gotchas

You probably will have to wait 1 year (Note 1)

Benefits

Duty-free import of household goods (Note 2)

No work permit required to work

You can "come and go as you please"

QRP

(All figures are per family)

App Fee 

$100

Program Fee

$500

Acceptance Fee

$100

Stamp

$10

Total

$710

Gotchas

You can't work at all.  If you do you may forfeit all fees!

You must deposit significant funds ($2000US) in a Belizean Bank every month. (3)

You are not actually a resident.  You are a permanent tourist.  You may be required to pay exit fees. 

Benefits

Duty-free import of household goods & new vehicle (Less than four years old), boat, plane! (Note 4)

YEAR

Tourist

Couple

1

2

3

4

5

Monthly Visa Fee

$25

$50

$50 $50 $50 $50 $50
Annual Work Permit

$1500

$3000

$3000

$3000 $3000 $3000 $3000

After Three Months

$50

$100

$525

$600

$600

$600

$600

Cumulative Total

$3525

$3600

$3600

$3600

$3600

Gotchas

You must report in every month

You pay $3.75 to PAC and a $15 "exit fee" EVERY TIME you go to Mexico. (Note 5)

You must pay duty on household goods (Note 6)

Work permit required to remain in Belize after 3 months. (whether you work or not.) (Note 7)

Benefits Privacy

Click on the note to read it.

 
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