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Living In Barbados With Digital Nomad Visa The Welcome Stamp

Barbados is an Eastern Caribbean Island that is a dream vacation destination for many people. Barbados is well known for its pristine beaches, with turquoise water and soft sand beaches. The country also has other attractions such as caves, wildlife preserves, plantations, and other historic sites. The capital of Barbados, Bridgetown, is also an excellent place to spend the day shopping, eating at restaurants, and enjoying other attractions such as Parliament Building and National Heroes Square.

Covid-19 has changed work dynamics and made remote work more acceptable. Furthermore, many countries like Barbados that depend on tourism want to attract long-term visitors. This visa allows you and your family to work remotely for a year in Barbados.

 

Barbados on a map.

 Barbados on a Map.

Barbados Welcome Stamp Overview

Tourism is a significant part of Barbados's economy, so the government launched a digital nomad visa program in the middle of 2020. The Barbados government introduced the 12-month Barbados Welcome Stamp, which allowed remote workers and digital nomads to live in Barbados with their families for up to twelve months. Applicants also have the option to reapply after 12 months if they want to extend their stay. This program is superior to other global programs for many different reasons, including the fact that you do not have to worry about double taxation while living in Barbados. This visa also allows you to bring your family with you and makes this part of the application process very straightforward. Barbados also has the best internet connection among other Caribbean countries and has coworking spaces and other services designed to support remote workers.

 

Related content: Applying For A Digital Nomad Visa In Aruba And Its Advantages

 

Bathsheba, Barbados

Bathsheba, Barbados

Who Can Apply?

Anyone who is not a citizen of Barbados is eligible to apply if they meet the program’s requirements. The applicant must prove that they have an annual income exceeding $50,000 USD and that this money comes from a company outside Barbados. This visa is not for people who want to work for a company in Barbados or set up a business in Barbados. The application process is easy if you bring a family member, as you only have to provide documentation verifying your relationship.

This visa provides support for families who are interested in spending a year in Barbados. Families can rest assured that Barbados has the proper healthcare and education facilities to support their families. If you bring your kids with you to Barbados, they are eligible to either attend private schools or state schools. Education is compulsory for children between 5 and 16 years old in Barbados. Schools in Barbados are very reputable, and some universities have received favourable global rankings, with one ranking in the top 1.5% of all universities. Barbados also has an abundance of high-quality hospitals, including the well-known Queen Elizabeth Hospital.

Unfortunately, this visa does not accommodate people who want to retire in Barbados. However, this visa could still accommodate semi-retired couples if one person is working remotely part-time or full-time.

 

For Everything you need to know about Residencies, Second Passports and Wealth Protection, read this amazing article: The Basics of How To Get a Second Passport Or a Second Residency.

 

Bridgetown, Barbados

Bridgetown, Barbados

Cost of Living

Barbados is a relatively expensive country, but one can easily live a comfortable life on a $50,000/year USD salary. As mentioned previously, you do not have to worry about double taxation, but you do need to pay a 17.5% tax on goods and services purchased on the island. According to Numbeo, rent in Barbados is around 57% lower than rent in the United States. Of course, this greatly depends on whether you rent a simple small apartment, a villa located downtown, or the beaches. The country’s minimum wage is around $6.25 USD, slightly lower than the minimum wage in other countries such as the United States, Canada, and Australia. It may be hard to save money if you go out a lot and travel, but $50,000 USD should still be enough to live a comfortable life.

 

Related content: Applying For A Digital Nomad Visa In Bermuda

 

Barbados has many beautiful beaches and touristic places for you to visit while there on a digital nomad visa.

Barbados has many beautiful beaches and tour places for you to visit while there on a digital nomad visa.

Application Process

Applicants can apply online and hear back in less than one week. The application fees are higher relative to other digital nomad visa programs. A single applicant has to pay $2,000 USD to apply. However, the application cost is $3,000 USD for an entire family, regardless of size. This cost is higher than most programs, as applying to similar 12-month visa programs can be as cheap as $200 USD.

Below are some of the documentation requirements:

  • Passport photos of the applicant/family members
  • Passport information
  • Dependents/family members must provide proof of their relationship to the primary applicant.
  • Must prove that you have an annual income of $50,000 USD and will maintain this during your 12 months in Barbados
  • Proof of health insurance

Another benefit of this program is that you only have to pay a fee once your application is approved. The program had an approval rate of around 78% as of 2021. You do not have to wait too long to hear back about the visa. It takes five days for the visa application to be approved. Furthermore, you have up to 12 months to activate the visa once you receive approval. This can be extremely helpful if your plans change and you decide you want to go at a later date. Once you activate the visa, you can live and work in Barbados for up to 12 months, and you can reapply after one year. If you ever want to seek residency or citizenship, contact us here.

 

Typical Barbados houses that you can live in while living there on you digital nomad visa.

Typical Barbados houses that you can live in while living there on your digital nomad visa.

Takeaway

If your dream is to live in the Caribbean for a year, whether it be alone or with your family, then the Barbados Welcome Stamp visa is an excellent option to consider. This visa is a simple option, as the Barbados Residency by Investment Program requires an investment of over $2 million USD. On the other hand, one could apply for this visa and renew it after 12 months, allowing them to live in Barbados for two years without investing in Barbados. This visa program is extremely family-friendly, and Barbados is also a very comfortable place to take your family for several years. The only downsides are the relatively higher application fee and the higher cost of goods and services because of the VAT. However, other expenses, such as rent, are low, and individuals do not have to worry about paying income taxes in 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.

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