This guide is a starting point for anyone thinking of making a move to Barbados, covering everything from why and how to move through to the best places to live on the island.
Find out how to move to Barbados in our relocation guide. Boasting some of the best beaches in the Caribbean, rolling green hills and year-round warmth, Barbados is a great place to live.
Besides stunning natural beauty and a welcoming climate, the people of Barbados are friendly and welcoming. Find out more in our guide to Investing in Barbados. The new 12 month Barbados Welcome Stamp , which has already begun accepting applications, allows qualifying individuals to live and work remotely in Barbados for 1 year.
The Barbados Welcome Stamp allows successful applicants to live in Barbados for a maximum of 12 months from the date of approval. To apply for the Barbados Welcome Stamp, applicants should submit a completed application form together with the below documents here. The island also offers Special Entry and Reside Permits SERP to applicants plus spouses and dependents which allow qualifying individuals to enjoy residency in Barbados. In the case of property owners, a SERP is issued for a period of 5 years and can be renewed thereafter.
Should you apply via this route, you may not seek employment in Barbados, making this route ideal for those looking to retire in Barbados. Four 4 passport sized photographs, one of which must be certified by a Justice of the Peace or Notary Public.
Letters from school s attended in Barbados. Letter of employment. Proof of qualifications if any. Application fee of Bds. Real Estate taxes are calculated on a tiered basis and this responsibility overseen by the Barbados Revenue Authority. The land tax year runs from April to March. Rates vary between nil and 0. The seller will have prepaid the land taxes before completion and a buyer will be responsible for the months between completion and March of the following year. What are income taxes like?
Income Tax is levied on: The profits of a trade or business earned by an individual in a fiscal year; and the income earned by any other individual in a calendar year. Income Tax is levied on the income of persons resident or non-resident in Barbados.
There is no tax on capital. The system of taxation is based on self-assessment. Resident A Resident is a corporation managed and controlled in Barbados; or a non-national individual who is present in Barbados for more than days in a calendar year. A resident corporation is subject to tax on its world income. A resident and domicile individual is subject to tax on his world income. The resident but not domiciled individual is subject to tax on his income derived in Barbados and on his income from foreign sources remitted to Barbados, or from which a benefit is derived in Barbados.
Non-resident A Non-resident is a corporation whose place of management and control is outside Barbados; or a non-national individual who is present in Barbados for less than days in a calendar year.
A non-resident is subject to tax only on income derived in Barbados. All non-nationals desirous of working in Barbados are required to register with immigration prior to commencing employment. Compared to most developing and developed countries around the world and particularly in the Caribbean, it is good.
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