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Life In Barbados And Obtaining Residency Through SERP Program

5 min read

Life In Barbados And Obtaining Residency Through SERP Program

Many people long to travel to the tropical paradise of Barbados. The island's population is diverse, resulting in a lovely combination of different origins and cultures that serves to unify and give rise to genuinely great works. The Island is more than simply a top vacation resort; it's also one of the Caribbean's most developed nations.

Residency in Barbados is alluring due to the island's cosmopolitan atmosphere and outstanding safety record. The Barbados laws offer various residency programs, including immigrant status, permanent residency, citizenship, being a CARICOM Skilled National, and possessing a work permit (WP). Recently, the government created the Special Entry and Residency Permit (SERP), aimed exclusively at high-net-worth individuals (HNWIs).

 

Promenade at Marina, Bridgetown

Promenade at Marina, Bridgetown

THE SPECIAL ENTRY AND RESIDENCY PERMIT (SERP)

Unlike several of its neighbours in the Caribbean, Barbados doesn't have a program for economic citizenship. Such programs provide that if certain requirements are met, investment in a specific amount of infrastructure, philanthropy, or real estate may result in citizenship. Instead, there is the Special Entry and Residency Permit for high-net-worth individuals who want to live in Barbados. A Special Entry and Residency Permit allows one to reside in Barbados but not to work there. If Special Entry and Residency Permit holders want to work in Barbados, they must submit the appropriate application and pay the required work permit fee to receive a long-term work permit.

 

Related content: The Basics Of How To Get A Second Passport Or A Second Residency

 

Boats at Bridgetown's Marine, Barbados

Boats at Bridgetown's Marine, Barbados

ELIGIBILITY REQUIREMENTS FOR THE SPECIAL ENTRY AND RESIDENCY PERMIT (SERP)

  • Persons with an estimated net worth of at least $5 million USD. The individual must put a minimum of $2 million USD into the venture. The money must come from outside the country. However, it may be used to purchase residential property or investments in Barbadian securities.
  • Those ready to contribute $2 million USD but do not meet the $5 million net worth threshold are still qualified; however, they only get a 5-year resident visa.

 

Related content: Living A Dream Vacation In Curaçao With A Digital Nomad Visa

 

Downtown in Bridgetown

Downtown in Bridgetown

THE DURATION FOR THE SPECIAL ENTRY AND RESIDENCY PERMIT (SERP).

  1. Persons over 60 are eligible for a Special Entry and Residency Permit with an indefinite residence.
  2. Those under 60 are given a Special Entry and Residency Permit, valid until they turn 60. The permission can then be extended indefinitely from that point.
  3. A five-year Special Entry and Residency Permit is permitted for those with particular professional talents.
  4. Spouses and children under 18 are given the same status as the Special Entry and Residency Permit applicant.

 

Clean sand and crystal clear waters in Barbados

Clean sand and crystal clear waters in Barbados

DOCUMENTS REQUIRED FOR THE SPECIAL ENTRY AND RESIDENCY PERMIT (SERP)

Bear with us. The list is long and extensive.

  • Applicant's Birth Certificate.
  • Marriage Certificates are required for women married to Barbadians.
  • Men who are married to Barbadian women should produce their wife's Birth Certificate; and his marriage Certificate.
  • For applicants whose previous marriage was terminated by Death or Divorce, an appropriate Death Certificate or Divorce document, i.e., Decree Absolute (a final order made by a court in a divorce case which ends a marriage completely.), should be submitted.
  • Applicants born out of wedlock to a Barbadian mother and a non-national father the applicant is required to produce his/her Mother's Birth Certificate.
  • Medical: a) Applicants under seventeen (17) years of age should provide a General Medical Certificate of Health from Doctor. For applicants above seventeen (17) years of age, the standard Medical Form provided must be completed by the Doctor.
  • A clean criminal record from the Police of each country where you have lived for at least six months in the past three years.
  • Four passport-size 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).
  • An application fee of 150 USD is required (Personal checks will not be accepted).
  • A final fee of 600 USD should be paid for approval.
  • Applicants should note that if there is any discrepancy in any of the names appearing on the documents required above, then an Affidavit must be submitted to clarify the same. The forms signed by a person other than the parent(s) for applicants under 18 years, then a Letter of Consent from the parent(s) must be submitted. This Letter of Consent must be notarized, i.e. signed by the parent(s) in the presence of a Justice of the Peace or Notary Public who will sign and affix his appropriate official stamp/seal. In cases where the legal custody of a child is granted, the document showing legal guardianship must be submitted.
  • A copy of the bio-data page of the applicant's valid passport.

Additional information on documents for SERP:

  • It is necessary to supply both original documents and photocopies.
  • On applying, fees must be paid for applications to be approved.

 

Coastline in Barbados

Coastline in Barbados

ABOUT BARBADOS

Barbados is a beautiful country to explore with many unique characteristics, exciting people, a distinctive culture, and foods you can’t begin to imagine the flavour and deliciousness of it.

 

CULTURE AND HERITAGE IN BARBADOS

Barbados' culture is a fusion of West African and British influences. The country's official language is English, reflecting centuries of British influence, although the Bajan dialect is also a distinctive aspect of Barbadian culture. This dialect is a synthesis of the languages spoken by its many historical inhabitants.

Annual festivals, like any other culture, are significant to Barbadians. Each has historical and cultural significance, and they are all eagerly awaited. Crop Over depicts the history of the sugar industry, as well as a protest against injustice and the eventual liberation of enslaved people. The Holetown Festival commemorates the first British settlers' arrival. The Oistins Fish Festival honours those involved in the fishing industry.

 

Relevant article: What Is An Apostille, And How Do I Apostille Documents?

 

Some beaches in Barbados are covered in shells and rocks

Some beaches in Barbados are covered in shells and rocks

CUISINE IN BARBADOS

Barbadian food, often known as Bajan cuisine, is a fusion of British, African, Portuguese, Irish, Indian, and Portuguese heritage. Usually marinated with a blend of herbs and spices, the main dish of meat or fish is served with hot sides and one or more salads. Most times, sauces are served with the meals.

Barbados' national cuisine is cou-cou with fried flying fish and hot gravy. Pudding and souse, a dish of pickled pork with spicy sweet potatoes, is another traditional meal. There is also a vast selection of meats and seafood. Barbados is a gastronomic paradise with a long culinary heritage. The natives take tremendous pleasure in their cuisine and regularly create their favourite dishes at home. Being in Barbados is the only way to enjoy native cuisine truly. However, Visitors should take advantage of the nation's fantastic eating scene.

 

You can find beautiful and colorful houses in Barbados

You can find beautiful and colorful houses in Barbados

THE ARTS IN BARBADOS

Barbados's art scene has become a significant part of the island in recent years. A diversity of styles and mediums have been produced because of the extraordinary blending of varied abilities on the island. Barbados makes art that reflects the island's culture and amenities. You may learn more about this by going to a gallery or festival like NIFCA, which proudly displays the works of so many Barbadians.

Music is also a significant component of the country’s arts. The arts of song and dance are deeply ingrained in Barbado's culture. As a result, live music can be heard in several taverns and eateries across the island. Barbados' music combines folk, calypso, religious music, and certain aspects of western classical music. Banja, the local calypso sound, features hilarious lyrics and is backed by a banjo or guitar.

The Barbadian government has recently adopted a sport-based tourism strategy, including the 2007 Cricket World Cup and numerous other regional competitions. In addition to this, there are several athletic events throughout the year in Barbados.

 

Barbados Sea Cave

Barbados Sea Cave

HEALTH CARE IN BARBADOS

In this tropical paradise, citizens enjoy universal health care coverage. All islanders have easy access to the extensive network of hospitals dispersed around the island. Barbados' universal healthcare program, funded by taxes, also offers free medications through The Barbados Drug Service to people with serious chronic illnesses.

The medical system in Barbados is strong. However, accessing highly specialized care and rehabilitation services may be difficult. Barbados is home to four main types of medical institutions in both the public and private sectors. They consist of hospitals, polyclinics, specialty services, and other specialized facilities, such as childcare facilities and five geriatric hospitals for treating aged persons.

 

Related content: Why Digital Nomads Should Consider Saint Lucia

 

You can enjoy the amazing sunset in Barbados

You can enjoy the amazing sunset in Barbados

CONCLUSION

One of the most stunning and enjoyable islands is Barbados. Thanks to its low crime rate, it is one of the safest areas to reside. The area is also off of most hurricane paths, has lovely weather, and is quite simple to become a resident. However, you should ensure you have sufficient funds and reserves for your immigration demands. Contact us today if you are interested in moving to Barbados.

 

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Mikkel Thorup

Written by Mikkel Thorup

Mikkel Thorup is the world’s most sought-after expat consultant. He focuses on helping high-net-worth private clients to legally mitigate tax liabilities, obtain a second residency and citizenship, and assemble a portfolio of foreign investments including international real estate, timber plantations, agricultural land and other hard-money tangible assets. Mikkel is the Founder and CEO at Expat Money®, a private consulting firm started in 2017. He hosts the popular weekly podcast, the Expat Money Show, and wrote the definitive #1-Best Selling book Expat Secrets - How To Pay Zero Taxes, Live Overseas And Make Giant Piles Of Money, and his second book: Expats Guide On Moving To Mexico.

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