Barbados: Category 1 Special Entry and Reside Permit (SERP)
Major investors in Barbados can move there for at least 5 years (and maybe 10+) with a Category 1 Special Entry and Reside Permit (SERP).
Benefits
- Eligible for work permit
- Bring family
- Valid at least 5 years (10+ years under some circumstances)
- Foreign currency tax credit
- Convenient time zone for US
- Beautiful Caribbean destination
Introduction
The Category 1 Special Entry and Reside Permit (SERP) welcomes investors to Barbados for 5-10 years if the applicant is under 60 years old. After 60 years old, the permit is indefinite.
SERP holders must declare tax residency in Barbados. The foreign currency tax credit (FCTC) could mean that SERP holders are paying a very low effective tax rate, depending on their personal situation.
Barbados offers year-round sunshine, pristine beaches, unique Bajan culture renowned for its hospitality, and historic architecture.
Learn more about life in Barbados with the official Barbados Travel Guide Podcast.
Internet Speed
Fixed broadband: 105.71 Mbps download/60.33 Mbps upload
Cost of living
No. 13 globally
Requirements
$2 million invested in Barbados, in real estate, manufacturing, tourism, property development, bank deposit, or other financial instruments
$5 million individual net worth
Fees
- $150 application fee for each applicant.
- Fees vary based on applicant’s age and SERP duration, starting at $3,500. Spouse pays this fee as well, but children do not.
- Additional fee for work permit starts at $1,750 per year or a $15,000 one-time fee (if over age 60) or $2,000 per year or $20,000 one-time fee (if under age 60).
Application Process
Inquire about applying at your local Barbados embassy or consulate.
Documents Required
- Completed application form
- Cover letter
- Passport and certified copy of information page
- Passport photo (2 in x 2 in [51 mm x 51 mm], with the head measuring between 1 in - 1 3/8 in [25 mm - 35 mm])
- Evidence that applicant has a net worth of $5+ million
- Proof of $2+ million investment made in Barbados
- Proof of relationship between applicant and family members (such as marriage or birth certificates)
- Evidence of health insurance of $500,000+
- Police clearance for home country and every country applicant has lived for more than 6 months after the age of 16
- Original and copy of birth certificate
All documents must be in English or translated to English. Other documents may be required.
