Caribbean Retirement can be enjoyed in many islands in the Caribbean chain. The islands all make for holiday and retirement destinations. Most Caribbean islands have very low crime rates, low cost of living and affordable real estate making the Caribbean a popular retirement destination for individuals from around the world.

Some of the Caribbean islands have put in place Caribbean retirement programs in order to attract retirees in to the region. Countries such as Belize, Panama and the Dominican Republic whist other countries have second citizenship programs in place to lure retires. The Caribbean retirement programs are all backed by government regulations and policies in the different Caribbean countries. Not only do applicants gain residency status but they receive many tax exemptions among other benefits which go a long way in making retirement easier.

For entry into one of the retirement programs being offered in Caribbean countries an applicant must be able to prove to the authority responsible for processing retirement residency that he or she has a steady or permanent monthly income off which he or she can sustain themselves and family as the program allows for inclusion of dependents. The Caribbean retirement programs states that depended are considered to be spouse and children below the age of eighteen (18). Children above eighteen but still enrolled in a educational institution are also considered to be dependents. For the Belize program the retiree must show that the monthly income is US$2,000 or more. Applicants to the Panama retirement program must prove that the minimum monthly income is US$1000 plus applicants with dependents must show proof of additional US$250 per applicant. For the Dominica Republic retirement program the applicant must have a permanent source of income which provides the individual with a monthly income of US$1, 500.

Most Caribbean retirement programs do not place emphasis on age limits for entry into the Caribbean retirement programs. The Panama and Dominica Republic retirement programs have no minimum or maximum age limited in place for individuals applying to the program. The Belize program however, stipulated that all applicants to the program must be over the age of forty five (45) years of age.

The Panama Pensionado program guarantees applicants who have met the necessary criteria Panama residency. The Belize and Dominica Republic retirement programs also grants residency status to successful applicants. Once residency status has been granted the retirees can enjoy the benefits of the Caribbean countries.

Tax exemptions are also very important benefits of the Caribbean retirement programs. In Panama, Belize and Dominican Republic retirement programs retirees are guaranteed local tax exemptions on the importation of household and persons items upon arrival in the countries, local tax exemptions are also given for the importation of a vehicle. Belize allows retirees to import a light air craft while Panama and the Dominican Republic give reductions on taxes for mortgages. Retirees in the Panama Caribbean Retirement program enjoy further benefits such as discounts on medical bills, discounts at pharmacies, restaurants, theater and on hotel accommodations.

The Caribbean retirement programs makes retiring to the Caribbean much easier and retirees can take advantage of the tax situation in the Caribbean Islands to make the best of retirement funds.