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Barbados Immigration for High Net Worth Individuals

Barbados Immigration offers High Net Worth Persons indefinite Special Entry Permits, indefinite work permits and annual work permits.  These permits make living, working and retiring in Barbados easy and hassle free for non-nationals who plan to visit the island often and stay for extended periods of time.

As a leading tourist destination in the Caribbean, Barbados has always been an easy place for visitors to enter and stay.  Despite this ease of entry, Special Entry Permits greatly benefit High Net Worth Individuals by allowing indefinite long-term visits without the ongoing need to visit the Immigration Department to renew their visitor status on the island.

Easy access to annual work permits and indefinite work permits are also available to High Net Worth Individuals when they acquire Special Entry Permits.  This offers a valuable convenience to individuals and business owners who wish to work and establish an international business on the island.

Retired property owners are also eligible to apply under the Special Entry Permit program.

Barbados Special Entry Permit Requirements

The Barbados Special Entry Permit requirements for High Net Worth Persons are as follows:

•    Net assets of US $5 million
•    Police certificate of character
•    Health insurance coverage worth US $350,000 for persons under 50 years; US $500,000 for those over 50 years

Once a High Net Worth Individual qualifies for a Special Entry Permit, an annual or indefinite work permit may then be purchased with no additional requirements if desired.

Applicants under 60 years of age, who wish to run their worldwide business from Barbados but not work for a Barbados registered company, will not require a work permit.

It is also important for High Net Worth Individuals to contact the Central Bank of Barbados to register their Permit status on the island in order to be granted permission to open foreign currency accounts which are exempt from all exchange controls.

Spouse and Dependents

The spouse of the applicant is permitted the same status for the same period of time as the applicant. 

Minor children of the applicant are granted student visa status until they are 18 years of age.  Dependents that are attending college or university and are still fully dependent on the applicant are also permitted residency until such time as their status changes.  At that point, as independent adults, they would be required to apply for their own Special Entry Permit if they plan to continue to live or work in Barbados.

Fees for Special Entry Permits and Work Permits

The fees charged by the Barbados Immigration Department for Special Entry Permits and work permits are quite affordable.

The fees are only due after the applicant has successfully been approved for the Special Entry Permit.  At that time, the Barbados Immigration Department will request that the applicant pay the applicable fee in order to receive the Special Entry Permit.

Fees for retired persons:

•    Special Entry Permit for retired persons over 60 years: US $5,000
•    Special Entry Permit for retired persons under 60 years: US $3,500

Fees for employed persons over 60 years:

•    Special Entry Permit: US $5,000; plus
•    Indefinite work permit: US $15,000; or
•    Annual work permit: US $1,500

Fees for employed persons under 60 years:

Option 1:

•    Special Entry Permit: US $5,000; plus
•    Indefinite work permit: US $20,000

Option 2:

•    Special Entry Permit: US $3,500; plus
•    Annual work permit: US $1,500

Fees for Non-Executive Directors:

•    Special Entry Permit: US $5,000; plus US $500 annually

Fees for Dependents:

•    US $150 per dependent

Applying for a Barbados Special Entry Permit

Interested individuals can contact us to receive information and assistance with their application for a Barbados Special Entry Permit.

The Advisor is offering High Net Worth Persons an application service to better facilitate a smooth and successful application.  The Advisor will provide the applicant with a complete package including the required forms and documentation list, answer questions, provide assistance and review the application to ensure that everything is in order prior to submission.  In addition, the Advisor can recommend health insurance coverage options if the applicant does not have an existing plan.

The Advisor will also contact the Central Bank of Barbados to identify the applicant in order to obtain permission to open a foreign currency bank account.

Freedom to Live, Work and Retire in Barbados

The Special Entry Permit program for High Net Worth Individuals offers an easy, affordable way for persons to visit the island whenever they please, for as long as they please, to work and setup a business as they please, without any hassles.

This program welcomes non-nationals to start a new life in Barbados.  It offers an easy means to live on the island all year long, with these individuals being welcomed to invest in world class Barbados real estate and even enjoy their retirement on the island.  The Special Entry Permit offers a unique opportunity to be forever welcome in paradise.

The work permit program gives successful businessmen and entrepreneurs an even greater incentive to register their international business in Barbados in order to take advantage of the island’s low tax rates, extensive tax treaty network and developed infrastructure.  When all these factors are combined, it is no wonder that Barbados is a leading offshore business jurisdiction.

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