Relocating to Barbados

Relocating to Barbados

Relocating to Barbados is a dream many of us would love to come true. Who wouldn't want to wake up every day to sunshine, warmth and fresh sea air? Enjoy the bright light and the magnificent flora and fauna. Wander down to the golden beaches and interact with the  friendly people. In Barbados you will also be able to enjoy an array of wonderful restaurants.

We have many clients who have purchased properties in Barbados.  They have finally fulfilled their dream of relocating to Barbados. Some live there all year round. Others live there during the winter months to escape the short, cold dark days at home.

If you are thinking of relocating to Barbados or buying a property in Barbados read our guide to buying property in Barbados.

Relocating to Barbados

 Here are a few things you need to know if you are thinking of relocating to Barbados.

BARBADOS ENTRY REQUIREMENTS

Every person entering Barbados needs to be in possession of:

  • a valid passport with more than 6 months left before expiry
  • a valid return ticket
  • an entry visa if required (to see which citizens need to obtain entry visas visit Barbados.org)

Visitors also need to let immigration know their intended address in Barbados. They must also complete an immigration form which is usually handed out for completion on the plane.

Barbados is a popular destination for investors choosing to buy property there because:

  • There is social stability and an attractive fiscal environment
  • There are no entry taxes and landholding licence agreements required to hold property in Barbados
  • The island is well developed and has many established amenities. There are wonderful restaurants, good shopping and world class developments offering golf, polo and tennis
  • There are marina developments for those who enjoy sailing/yachting
  • The quality of life is excellent with a large ex pat community
  • There are excellent healthcare facilities
  • Schooling is good and the crime rate is the lowest in the Caribbean
  • The language is English and the local people are very friendly

 

WHAT PERMITS ARE REQUIRED IF I WANT TO OWN A HOME AND SPEND AN INDEFINITE PERIOD IN BARBADOS 

Visitors from Australia, Canada, France, Ireland, the UK and USA may stay in Barbados for a maximum of 6 months without a visa.  This is often sufficient for property owners wishing to spend winters on the island. Other EU nationals can stay for up to 3 months

You may apply for an Special Entry Permit (SEP) if you are:

  • a retired property owner or
  • a high net worth person employed or retired (you need to have US$5million of net assets)

The Special Entry Permit offers:

  • No limits on length of stay while visiting Barbados
  • Freedom to come and go from Barbados as you please

If you are over 60 years of age the SEP will be valid for your entire lifetime-cost is approx US$5,000

If you are under 60 years of age, only one renewal is required when you turn 60. Cost if you are under 60 is:

  • US$3,500 if you are between 50 and 60 years old
  • US$5,000 if you are under 50 years old

When you turn 60 the one off renewal cost for an indefinite SEP is approx US$5,000

Permit fees are only payable upon approval of the SEP

RETIRED PROPERTY OWNERS 

All retired individuals who own property in Barbados can qualify for a SEP. 

HIGH NET WORTH PERSONS 

High net worth persons are defined as those with over US$5million in assets. All high net worth persons whether or not they own a property in Barbados can qualify for a SEP.

WORK PERMITS FOR PERSONS WHO ARE NOT HIGH NET WORTH PERSONS

It is not easy for non high net worth individuals to work in Barbados. Non-nationals seeking work in Barbados must register for and obtain an immigration status or work permit before starting work in Barbados. They must apply to the  Immigration Department for this.

For further information you should visit the Barbados Immigration Department and check eligibility. 

For further information, visit the Barbados Immigration Department and check regarding eligibility..

WORK PERMITS FOR HIGH NET WORTH PERSONS

High net worth persons are eligible for annual work permits and for indefinite work permits which allow them to work in Barbados. This category can be divided as follows:

  • Persons over 60 can buy an indefinite work permit for US$15,000 or an annual work permit fo US$1,500
  • Persons under 60 can buy an indefinite work permit for US$20,000 or an annual work permit fo US$1,500

SPOUSES AND DEPENDANTS

A dependant spouse of an applicant must apply for a SEP as well and pay separate application and approval fees. The SEP of the spouse is valid for the same length of time as that of the applicant SEP.

Where the applicant has dependent children who are minors they are also given a residency visa while they remain minors.

Dependent children attending college or university are also eligible for a student visa

The applicant fee is only US$150 per applicant

PROPERTIES IN BARBADOS

 There are many stunning properties to buy or to rent in Barbados.

Relocating to Barbados

If you are looking for a holiday or vacation vills to rent visit barbadosdreamvillas.com

If you are looking to rent long term while you decide if Barbados is the right place for you visit longtermrentalsbarbados.com

If you have made up your mind and are looking to buy before relocating to Barbados visit barbadosdreamproperties.com

Our team will be happy to assist you if you have any questions regarding relocating to Barbados. Contact us now.

 

 

 

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