Residency for Sale? Musa Pitches Amendments to Immigration Act

Foreign investors could soon buy the right to live in Belize under amendments to the Immigration Act.

Minister of Immigration and Labour Kareem Musa presented the bill in the House of Representatives today. It would create an investor permit, allowing qualifying foreigners to gain residency in exchange for investing in Belize. 

Musa said Belize is competing globally for capital, talent and entrepreneurship. He said the country needs more tools to attract investors who can open businesses, create jobs and contribute to the economy.

He pointed to Panama, saying its permanent residency programme has drawn more than a quarter of a billion dollars in new investment since 2020.

The bill would also let the Director of Immigration issue Temporary Employment Visas for agriculture and agribusiness, construction and hospitality. Musa said these sectors face significant labour shortages.

“Of course the consideration will always be that we find Belizeans to fill the vacant posts,” he said.

The proposed amendments to the Immigration Act would add the Labour Commissioner to the Visa Vetting Committee. Musa said the Commissioner does not currently sit on the committee, even though many visa applicants also apply for labour permits. “Those two things are interconnected,” he added.