How to Get Barbados Residence by Investment: Complete Guide

The Barbados Golden Visa program isn’t just about living in a tropical paradise. The Barbados Golden Visa offers numerous advantages for affluent individuals wishing to widen their investment portfolio and move around the world easily.

1. Ease of travel. Barbados' geographical location makes it an excellent base for travel within the Caribbean and North and South America. The island has excellent air and sea connections.

2. Family inclusion. The program also takes care of your family needs by allowing spouses and dependents under 18 to be included on permit applications. It ensures that families can stay together while enjoying all the perks this Caribbean nation offers.

3. High quality of life. Barbados boasts a high living standard with excellent health care and education facilities. It has a literacy rate of almost 100%, and the island’s medical facilities are renowned throughout the region.

4. Community and safety. Barbados is known for its friendly and welcoming people. It is a safe place to live with low crime rates, making it an excellent place for families.

5. Tax benefits. Barbados has an attractive tax regime for high-net-worth individuals. For those who obtained residence under the SERP program, no wealth, inheritance or capital gains taxes exist.

6. Stable economy. Barbados has a stable economy and a strong local currency. Its robust regulatory framework also makes it a secure place for financial investments.

7. Conducive business climate. Barbados has a favorable business environment, a well-educated workforce, good infrastructure, and supportive government policies for business development.

8. Access to quality education. Barbados has a strong educational system with various high-quality local and international schools. It makes it an excellent location for families with children.

To qualify for the Golden Visa, you must have a clean criminal record and prove that your wealth was obtained legally. You also need to show that you can support yourself and any dependents without relying on public funds.

You are allowed to add your spouse and minor children to the application. Children over 18 can also be added if they study at a university and are financially dependent on the investor.

Additionally, you must make significant financial contributions towards the development of Barbados’s economy. It could involve investing in real estate, contributing to endorsed initiatives, or initiating enterprises that provide jobs for inhabitants.

Permanent residency in Barbados can be obtained for 5 years or for life.

Unlimited permanent residence. The requirement is to invest at least $2,000,000 in the economy. The money must come from outside Barbados. It is also required for an investor to prove they have a net worth of at least $5,000,000.

5-year permanent residence. You must invest at least $300,000 and prove you have enough funds to support yourself and your family members during the validity of your residence permit. The minimum required sum is not stated.

The investor must also pay an application fee — a non-refundable fee that covers administrative costs during the initial evaluation stage. It is $5,000 for applicants under 60 and $3,500 for those over 60.

The Golden Visa offers two main investment routes: direct and indirect. Direct investments involve purchasing real estate properties, while indirect investments require contributing towards government-approved projects such as infrastructure development or job creation initiatives.

A person with permanent residence can apply for citizenship by naturalization. The requirement is to live in Barbados for at least 5 years during the last 7 years. Residing permanently in the country for 12 months before the application is also a must.

Applicants for citizenship must master English and be able to prove it.

It is possible to obtain citizenship by investment in some Caribbean countries. They are Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis and St Lucia.

Acquiring passports in these states usually takes up to 6 months.

Barbados has visa abolition agreements with a majority of countries in the world. For example, citizens of India or China don’t need visas to visit Barbados for a short time. However, they are usually required to have some permit for long-term stays.

However, there are some countries whose passports require their holders to have visas to enter Barbados for any reason.

Barbados has a Golden Visa program known as Special Entry and Residence Permit (SERP) program. Under it, you can obtain a permanent residence permit in the country by investment. The minimum sum is $300,000. There are no requirements on where to invest in.

The process of obtaining a Bermuda residence permit takes at least 1 month.

You can apply for Barbados citizenship 5 years after holding a resident status.

Benefits of Barbados citizenship include:

• ease of travel;

• business opportunities;

• access to education;

• high quality of life and stability;

• tax benefits;

• family inclusion.

Other Caribbean countries grant citizenship by investment: Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis and St Lucia.