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More than 40% of Belize, the only English-speaking country in Central America, is protected as national parks, wildlife sanctuaries and marine reserves. But Belize isn’t just a haven for wildlife – the country also encourages offshore business and welcomes foreigners as local residents.
As author and legal expert Robert Bauman reports in the September 2010 issue of International Living magazine, Belize’s offshore laws ensure maximum financial privacy, allow asset-protection trusts, and encourage international business and banking.
Of particular interest to potential expats is Belize’s “qualified retired persons” (QRP) program, which resembles Panama’s popular pensionado program.
The QRP (administered by the Belize Tourism Board) offers significant tax incentives to those who become permanent residents of Belize. Foreign residents under the program are exempted from all taxes on income from sources outside Belize. They can own and operate international businesses based in Belize, again exempt from all local taxes. They can also import personal effects without paying import duties.
Bauman explains the qualification requirements for the QRP program in detail in his September article.
“If you’re looking for a place to plant your "residency" flag,” says Bauman, “Belize should be high on your list. It’s a place where you can arrange your affairs so you gain residency but pay no taxes locally. And one of the most attractive benefits is that you can maintain your residency in Belize without actually spending much time there.”
InternationalLiving.com has been covering Belize as an attractive overseas retirement and investment location for decades and has written a number of reports and publications on the advantages the country offers U.S., Canadian, and other expats.
InternationalLiving.com also publishes an annual Retirement Index, which ranks the best retirement locations on earth. The #1 retirement destination in 2009 was Cuenca, Ecuador. The 2010 Retirement Index will be published in the September issue of International Living magazine.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
