What are the advantages and disadvantages of having a Belize passport?
Boris Mannsfeld - Boris Mannsfeld & Associates
The advantage of having a Belizean passport is that you have the lawful right to work, live and retire in Belize at will. You are a citizen. You can travel around Central and South America with that passport and all the various countries that accept Belizean passports without first requiring a visa entry stamp.
At the moment, if you are a United States citizen holding dual citizenship in Belize, the Belizean citizenship has unfortunately become less valuable in the sense...
At the moment, if you are a United States citizen holding dual citizenship in Belize, the Belizean citizenship has unfortunately become less valuable in the sense...
The advantage of having a Belizean passport is that you have the lawful right to work, live and retire in Belize at will. You are a citizen. You can travel around Central and South America with that passport and all the various countries that accept Belizean passports without first requiring a visa entry stamp.
At the moment, if you are a United States citizen holding dual citizenship in Belize, the Belizean citizenship has unfortunately become less valuable in the sense that the United States requires that you disclose everything that you own. If that amount exceeds US $50,000 a year and you don’t disclose it, your bank can choose to disclose it. Even if you are a natural born German and you come to Belize and wanted to open a bank account here, you still need to fill out a form that goes to the IRS that states that you are not an American.
If you are an American and you get a passport in any other country outside of the United States, that additional passport would provide limited benefit to you, because the United States views you as an American, period. They don’t care how many passports you hold; you are still an American. You still have to file, you are still subject to taxation when your amount is above and beyond the income exclusion. The banks are still required to disclose all of their transactions with you to the United States, without a court order, without probable cause, no privacy; just turn it over because “we said so.” And you can’t open up a bank account lawfully in the name of yourself under a foreign passport without disclosing on the form that goes to the IRS stating that you are not an American and you do not hold dual citizenship. So the only way to get out of that is to expatriate and to renounce your US citizenship literally.
If you are Canadian residing in Belize, and you have a Belizean passport, you can just leave your Canadian passport in the drawer and to the best of my knowledge, you don’t have to report anything to Canada. If you are not living in Canada, you do not have to report to Canada; nothing! If you are a German and you reside here in Belize, you do not have to report to Germany.
My purpose on reviewing this is to explain one of the big benefits of having a Belizean passport. In my experience, one of the benefits that people are trying to obtain through a second passport is privacy, by having a bank account in the name or identity of that person. Unfortunately for United State citizens, that benefit doesn’t exist but in some other countries, It does.
It takes 6 years to get a passport in Belize, so it doesn’t happen overnight. Their economic passport program expired in 2002. You used to be able to pay US $25,000 per person and get a passport, but they don’t have that any more.
At the moment, if you are a United States citizen holding dual citizenship in Belize, the Belizean citizenship has unfortunately become less valuable in the sense that the United States requires that you disclose everything that you own. If that amount exceeds US $50,000 a year and you don’t disclose it, your bank can choose to disclose it. Even if you are a natural born German and you come to Belize and wanted to open a bank account here, you still need to fill out a form that goes to the IRS that states that you are not an American.
If you are an American and you get a passport in any other country outside of the United States, that additional passport would provide limited benefit to you, because the United States views you as an American, period. They don’t care how many passports you hold; you are still an American. You still have to file, you are still subject to taxation when your amount is above and beyond the income exclusion. The banks are still required to disclose all of their transactions with you to the United States, without a court order, without probable cause, no privacy; just turn it over because “we said so.” And you can’t open up a bank account lawfully in the name of yourself under a foreign passport without disclosing on the form that goes to the IRS stating that you are not an American and you do not hold dual citizenship. So the only way to get out of that is to expatriate and to renounce your US citizenship literally.
If you are Canadian residing in Belize, and you have a Belizean passport, you can just leave your Canadian passport in the drawer and to the best of my knowledge, you don’t have to report anything to Canada. If you are not living in Canada, you do not have to report to Canada; nothing! If you are a German and you reside here in Belize, you do not have to report to Germany.
My purpose on reviewing this is to explain one of the big benefits of having a Belizean passport. In my experience, one of the benefits that people are trying to obtain through a second passport is privacy, by having a bank account in the name or identity of that person. Unfortunately for United State citizens, that benefit doesn’t exist but in some other countries, It does.
It takes 6 years to get a passport in Belize, so it doesn’t happen overnight. Their economic passport program expired in 2002. You used to be able to pay US $25,000 per person and get a passport, but they don’t have that any more.
Posted December 1, 2014
Kate Corrigan - Caye International Bank
I do not have a Belizean passport; I still have my UK passport. I think having a Belizean passport means you can work anywhere the passport is accepted. I am fine with my British passport and I have not thought about getting a Belizean passport at the moment.
“Residency” means that you can live and work here as a resident of Belize. After 5 years of being a resident, you can then apply for citizenship and a Belizean...
I do not have a Belizean passport; I still have my UK passport. I think having a Belizean passport means you can work anywhere the passport is accepted. I am fine with my British passport and I have not thought about getting a Belizean passport at the moment.
“Residency” means that you can live and work here as a resident of Belize. After 5 years of being a resident, you can then apply for citizenship and a Belizean passport. Most jurisdictions would allow you to have at least one second passport. Therefore, for me, I would keep my UK passport and I would also have a Belizean one. Being that Belize is part of the British Commonwealth, I am not entirely sure that there is more benefit for me to have a Belizean passport over my existing UK passport.
To have a passport means you are a citizen. In my case, if I were to become a citizen of Belize, I would be a dual citizen. I would be a citizen of the UK and of Belize.
Posted December 1, 2014
Christian Burn
I don’t think there are too many disadvantages in having a Belizean passport.
Some of the advantages to having a Belizean passport in particular is not only does it give you access to the British Commonwealth because the Belizean passport is a Commonwealth passport, but a Belizean passport also gives you access to the Caribbean, or the CARICOM nations. (At last count, there’s about 15 or so CARICOM countries.)
The British Commonwealth nations...
Some of the advantages to having a Belizean passport in particular is not only does it give you access to the British Commonwealth because the Belizean passport is a Commonwealth passport, but a Belizean passport also gives you access to the Caribbean, or the CARICOM nations. (At last count, there’s about 15 or so CARICOM countries.)
The British Commonwealth nations...
I don’t think there are too many disadvantages in having a Belizean passport.
Some of the advantages to having a Belizean passport in particular is not only does it give you access to the British Commonwealth because the Belizean passport is a Commonwealth passport, but a Belizean passport also gives you access to the Caribbean, or the CARICOM nations. (At last count, there’s about 15 or so CARICOM countries.)
The British Commonwealth nations include any colony of Great Britain, and that includes Australia, New Zealand, South Africa, Jamaica, Barbados, St. Lucia, Belize, and Canada, among others. For example, an advantage I get as a Commonwealth nation member (Canada), living in another Commonwealth nation (Belize) is that, as a resident of Belize, I just have to register to vote. My Canadian passport with my Belizean residency allows me the ability to vote in Belize.
A Belizean passport allows you free trade and free travel between the CARICOM nations.
If you have a Belizean passport, visa access would certainly be a lot easier, whether it be via a tourist visa or via a residency visa access.
The Belizean passport is a good passport to have.
Some of the advantages to having a Belizean passport in particular is not only does it give you access to the British Commonwealth because the Belizean passport is a Commonwealth passport, but a Belizean passport also gives you access to the Caribbean, or the CARICOM nations. (At last count, there’s about 15 or so CARICOM countries.)
The British Commonwealth nations include any colony of Great Britain, and that includes Australia, New Zealand, South Africa, Jamaica, Barbados, St. Lucia, Belize, and Canada, among others. For example, an advantage I get as a Commonwealth nation member (Canada), living in another Commonwealth nation (Belize) is that, as a resident of Belize, I just have to register to vote. My Canadian passport with my Belizean residency allows me the ability to vote in Belize.
A Belizean passport allows you free trade and free travel between the CARICOM nations.
If you have a Belizean passport, visa access would certainly be a lot easier, whether it be via a tourist visa or via a residency visa access.
The Belizean passport is a good passport to have.
Posted December 2, 2014
Wayne Robbins - The Placencia
For me, having a Belizean passport or citizenship will give me more freedom. (In order to have a Belizean passport, you have to first be a Belizean citizen.) Having a Belizean passport would give me access to a beautiful country like Cuba, so it gives you more flexibility. Having another citizenship, especially if you are going to spend a great deal of time in that country, is important. It gets you through the airport quicker but it also gives you the flexibility of being dually...For me, having a Belizean passport or citizenship will give me more freedom. (In order to have a Belizean passport, you have to first be a Belizean citizen.) Having a Belizean passport would give me access to a beautiful country like Cuba, so it gives you more flexibility. Having another citizenship, especially if you are going to spend a great deal of time in that country, is important. It gets you through the airport quicker but it also gives you the flexibility of being dually registered. It is a personal preference. I would recommend having a citizenship especially in a beautiful country like Belize. In my opinion, it would create taxes advantages for one to have dual citizenship, especially if you are planning on spending several months out the year in Belize and if you are thinking of working part time or full time. This is my opinion based on my 12 years worth of experience living in Belize.
(Beach bar in Placencia, Belize, pictured.)
Posted February 14, 2016
Virginia Krohn - Villa Cayo Belize
One of the advantages of having a Belize passport would be that you do not have to pay departure tax. You have to be a Belize Citizen to get a Belize Passport and it takes a period of time to accomplish. You would also be able to vote in Belize. If you are a citizen you cannot be deported as easily because you have Belize Rights. It would take more of a process. It is also safer if you plan to invest money in a home and...
One of the advantages of having a Belize passport would be that you do not have to pay departure tax. You have to be a Belize Citizen to get a Belize Passport and it takes a period of time to accomplish. You would also be able to vote in Belize. If you are a citizen you cannot be deported as easily because you have Belize Rights. It would take more of a process. It is also safer if you plan to invest money in a home and business.
A disadvantage would be that once you are a citizen you cannot have offshore bank accounts.
(Swing bridge in Belize City, Belize, pictured.)
Posted July 29, 2016