Qualified
Retirement Residency Program (QRP)
The Retirement Residency Program
was created especially for those people who wish to live
in Belize and can prove a permanent and consistent income
from investments abroad, pension or other retirement benefits.
Anyone who is forty-five years and older from the United
States of America, The United Kingdom of Great Britain
and Northern Ireland, Canada, Europe and Germany qualify
for the program. Some benefits of retiring in Belize include
tax exemptions for all your income generated outside of
Belize (whether from work being performed or investments),
a peaceful English speaking nation, sub-tropical climate
all year round, easy access to land for construction of
a retirement home, close proximity to the United States
and Mexico, a strong and stable Belize Dollar, an abundance
of natural resources and a friendly people.
All applicants
must be able to provide an authentic police record from
their last place of
residence and a medical clearance certificate. They are
also expected to certify and sign to an agreement that
they are 1) the recipient of a pension or annuity of
US$1,000 per month or 2) that the revenues generated by
their investments amount to a minimum of US$2,000 per
month and that same will be deposited into a local bank
account on a monthly basis for a yearly total of US$24,000
per annum. Qualified retirees are able to bring in a car,
boat and/or plane (duty free) as well as their household
goods (up to US$15,000 worth), tax free, and acquire full
permanent residency in Belize.
Chapter
250 (onshore) local Companies
The Government of Belize considers
several factors before granting development concessions
to onshore (local) companies. Among other factors, these
would include the level of investment made, the potential
that the company has for foreign exchange earnings and
foreign exchange savings, the creation of employment,
transfer of new technology, the location and type of industry,
the final destination of the products and the company's
own profitability on its investment. Tax free concessions
are generally given for larger development investments.
To obtain a duty free concession to bring things needed
for a hotel or other type of business, you must have a
local (onshore) Belize company.
Companies
carrying on business within Belize must be incorporated
pursuant to the local Companies Act or if they are
overseas compani
es,
they must be registered to do business locally in Belize
as overseas companies. Local companies and overseas
companies carrying on business locally must make a full
public disclosure of their directors and shareholders and
should maintain a registered office within the country of
Belize. Georgetown Trust, Ltd. performs a wide range of
services for local companies’ formation including the
filing of statutory returns in the Companies Registry,
providing a registered office and nominee shareholders and
acting as registered agent for overseas companies doing
business locally.
Real
Estate consultancy
Free hold land in Belize
is readily available for sale, with few restrictions,
to foreign buyers and non-native investors. Inland properties
are generally found to be more affordable than those properties
located on the outlying islands (referred to as “Cayes”)
that are scattered along the coastline of Belize’s
barrier reef. The benefits of working with a buyer's agent
to purchase property in Belize would begin with the identification
of your specific needs for the particular real estate
you require; whether you are seeking a developed residential
property or you require a condominium property or a resort
or hotel property or have other or more specific requirements.
Georgetown Trust, Ltd. is willing to work along with you,
as your buyer’s agent, for the purchase and acquisition
of developed and/or undeveloped land in Belize for your
retirement, vacation, business or investment. We are prepared
to assist you in your property search and to provide you
with general information and consultation on real estate
in Belize.
Business
Name Registration & Company Searches
Georgetown Trust, Ltd. offers you a fast and efficient secure service in Belize
for the registration of your overseas business name or on-line .com internet venture business name. Professional clients and those who register their company names on a regular basis will benefit from discounts and incentives. In addition to business name registration services, Georgetown Trust, Ltd. facilitates company searches, at your request, for data acquisition on local (onshore) companies, international business companies (IBCs) and Trusts. We endeavor to ensure that your data fulfillment is delivered to your desktop within just a few hours.
Immigration (work permits/self-employment/nationality)
Georgetown Trust, Ltd. facilitates the immigration procedure with the relevant government department in Belize for work permit applications for skilled non-natives inclusive of foreign nationals, IT professionals, migrant workers and investors. All applicants for a work permit must be able to provide a valid passport and a previous employer’s recommendation. The length of time granted for a work permit ranges from three months to one year. For temporary employment and/or self employment (for those whose special skills are non-competitive with the local labor force), you must be able to provide a notarized copy of your passport, a valid trade license, bank reference, curriculum vitae, diplomas and certifications. After five years of permanent residency in Belize, you become eligible to apply for nationality.
Business Name registrations & Company Searches
Patent
& Intellectual property registrations
Georgetown Trust, Ltd.
facilitates the registration and/or renewal of registration
for your patent, trademark, intellectual and/or copyright
property. The Patents Act of Belize allows for the registration
of patents and utility models; the Trade Marks Act allows
the registration of trademarks, collective marks and certification
marks (geographical indications and appellations of origin);
the Industrial Designs Act allows the registration of
industrial designs; Protection of the New Plant Varieties
Act covers the registration of new plant varieties; Protection
of Layout Designs (Topographies) of the Integrated Circuits
Act includes the registration of integrated circuits.
Trusts
(onshore) for the purchase of real estate and other relevant
purposes
Concessionary licenses
are issued for land ownership by foreign nationals if
a satisfactory development plan is presented or is in
existence. If a property is being sub-divided for sale,
a subdivision permit must be obtained from the relevant
government department. The purchase of land in Belize
by foreign nationals is facilitated by placing the land
title in an on-shore Trust Deed for a beneficial reduction
in stamp duties and as a guarantee that the legal ownership
is kept securely in a trust entity that is perpetuate.
The additional benefits include solid protection against
loss of property resulting from bankruptcy, divorce and
unforeseen litigation.
Belize
dollar bank accounts
There are five commercial banks that currently conduct local business in Belize.
They are all regulated by the Central Bank of Belize in accordance with the provision
of the local Banking Act. We facilitate our clients
with introductions to local banks in Belize for the
establishment of personal savings accounts and investment
accounts; as well as the acquisition of debit and credit cards that are held
in local currency.
The local
currency (the Belize dollar) is tied to the US dollar in
the fixed exchan
ge
rate of BZ$2 equivalent to US$1. There are many benefits
that can be accrued to
you from banking in Belize and we stand ready to
facilitate you with local banking services that will allow
you to make purchases in shops and withdraw cash from
ATM's located anywhere throughout Belize. The major
advantage for you to access local banking facilities
(checking accounts, debit and credit cards) are their
security, cost effectiveness and versatility making them
ideally suited to be used for your Belize retirement or
investment needs.
Belize
tax facts
We offer
consultation on the general principles of individual
domestic taxation in Belize for resident non-natives who
are employed locall
y.
We are able to facilitate any person or entity carrying on
his trade or business or practicing his profession or
vocation in Belize or any overseas business investors with
our comprehensive knowledge and information on the
repatriation of profits, dividends, etc. for individual
withholding taxes and for non-resident companies.
Bookkeeping
Services
Our bookkeeping services
include the arrangement of connections to and the representation
vis-à-vis with banks and financial specialists,
the establishing and maintaining of bank accounts, supervision
of banking transactions, the making of daily bank deposits,
and the preparation of bank reconciliation reports. Georgetown
Trust, Ltd. also facilitates you with the payment of your
bills and the provision of financial statements. We work
closely with you to ensure that your commercial, fiscal
and business transactions are all handled under one roof
with the maximum efficiency.
Business Management & Office
Liaison Services
Georgetown Trust, Ltd. provides business
management and office liaison services for business purposes.
These include functions such as arranging the preparation
and printing of your company stationery, brochures, invoices
and other documents, conducting your shareholders and board
of directors meetings and preparing the appropriate minutes
as well as executing the necessary public documents on
your behalf. We further provide you with a company address
and conference and telecommunication facilities right in
the heart of downtown Belize City. Our partial or full
office liaison services includes a post office box at the
Belize City Post Office; a prestigious street address in
Belize City; receipt of your mail at the post office box
with daily checks (Monday to Friday) and receipt of your
mail, courier, packages and parcels at the street address;
forwarding of your mail every Friday or as agreed; receiving
of incoming calls and faxes on collective telephone lines/fax
lines, taking messages and forwarding such message as per
your request. We also include, at your specific request,
secretarial services, collective or private telephone or
fax lines and telephone and fax forwarding.
Please
contact us if you wish to apply
for any of the afore-mentioned local services.
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ation
and tools necessary for your own individualized asset
protection
plan.
We will show you how to implement your plan and develop
your investment
structure for the ultimate control of your finances to
remain completely in your own hands. Our goal is to
provide you with the following cost-effective,
comprehensive menu of high-quality, reliable
administrative and financial services:
