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Frequently Asked Questions

What is the weather like in Barbados?

The climate in the Barbados is tropical with temperatures ranging from 25 – 30 degrees Celsius/77 to 90 degrees Fahrenheit. In the islands there are two seasons: Wet and Dry.

The wet season is from June through November, and the dry season is from December through May.

Brief heavy showers are common throughout the year. We call that Liquid Sunshine.

How do I get to Barbados?

There are direct international flights to Barbados from various cities in the United States, Canada, the UK and Europe.

From the USA, there are regular flights from Charlotte, Miami, New York, Philadelphia and San Juan to Barbados.

From Canada, fly with Air Canada from Montreal or Toronto.

From the UK, BA and Virgin Atlantic operate regular flights from London to Barbados. Aer Lingus and KLM have also announced new routes from October/November 2021 for the main vacation season.

How do I find the latest travel protocols for Barbados?

You can find out all the latest entry requirements and protocols on the Barbados travel website.

If you would like further advice and information, you can find this in the many Facebook Groups.

Barbados Travel Adviser

Visit Barbados

Barbados Expats

Barbados Welcome Stamp

 

What time zone is Barbados in?

Barbados is GMT-4 – Eastern Time. The island does NOT change time. As such, it is either five (summer time) or four hours (winter time) behind the UK. It is also either the same time or ahead one hour of Eastern Time.

How do I become a Barbados resident?

Retirees who own property in Barbados or high net worth individuals with a minimum net worth of USD $5,000,000 can apply for a Special Entry Permit for Barbados, which allows successful applicants to live in Barbados and is typically granted for 10 years for those under 60 and indefinite duration for those over 60. Please note that access to this can change so please check with the Barbados government website.

If you wish to live in Barbados and you are a financially self-sufficient retiree or entrepreneur, you can apply to the Immigration Department to be granted the status of immigrant under the Immigration Act of Barbados. If you have lived in Barbados for five years legally with the status of immigrant you can then apply to become a permanent resident.

Is Barbados safe?

Barbados is considered safefor travel according to the US State Department. They note to exercise normal precautions and that some areas will have increased risk. Unless your government has issued a warning recommending you avoid a certain destination, you can generally be assured of a safe trip just about anywhere.

How long can I stay in Barbados?

Citizens of the USA, Canada, EU and UK may generally stay in Barbados on holiday for up to three months (90 days) without a visa although you can apply for an extension to stay longer (fee applicable).

Can non-Bajans purchase property in Barbados?

Yes, non-Bajans can buy property in Barbados. Indeed, the Barbados Government welcomes investment from overseas buyers. There are no restrictions on foreign buyers acquiring real estate in Barbados and foreign buyers enjoy the same rights as Barbadian citizens, including the right to purchase beachfront land.

However, non-resident buyers must obtain permission to purchase property from the Barbados Exchange Control Authority and funds transferred to Barbados for the purpose of purchasing property must be registered with the Central Bank of Barbados.

Property can be purchased by an individual or a company which can reduce costs.

If I purchase a property do I have to become a resident of Barbados?

No. Non-nationals are welcome to make Barbados their home and there are no restrictions to non-nationals purchasing real estate in Barbados. There are also no capital gains or inheritance taxes in Barbados.

Non-nationals, who wish to stay in the island for period longer than six (6) months continuously, may require a Special Entry & Reside Permit.

Is there any benefit in pursuing Dual Citizenship?

There is no benefit of Dual Citizenship for property ownership. However, should you wish to receive tax advice, we will be happy to refer you to a local Tax Advisor.

Must I maintain a certain amount of money in a Barbados bank account?

No. Barbados does not require you to maintain an amount of money in your Barbados bank account. Each bank has its own requirements, so shop around or take advice for the best banking provider for your needs.

At what point should I retain an attorney during the purchase?

It is not always necessary to retain the services of an attorney-at-law. It depends on the property you are purchasing and where.

For example ownership of The Crane Private Residences is a Right to Use held in trust by First National Trustee Company (FNTC) in the Isle of Man, until the year 3000. As such as attorney is not required.

The property can be willed, transferred or sold at any time. The Trustee ensures that there is no debt, prior ownership or lien on the property.

Should you still wish to have an attorney-at-law review the Purchase Application, we will be happy to refer you to a local law office.

For other properites, an attorney is recommended and we will advise you of this during the sales process.

Do the properties come fully furnished.

This will depend on the community and your plans for the property.

For example, for those purchasing a newly developed property, such as The Crane Private Residences, the units include appliances only. The furniture packages are comprehensive, including everything from cutlery and crockery to linens and wall art.

If you are purchasing directly from an owner, furniture and appliances may be included within the sales price. Please check the listing for details.

What is the property buying process?

Buying property in Barbados is a relatively simple process:

  1. Begin your property search with Residence Barbados.
  2. Find your perfect property and either make an offer to the owner or the Residence Barbados team will negotiate on your behalf with the community developer (if it’s a new build property).
  3. Once you have made an offer on a property and the offer has been accepted, you may need to engage a Barbadian attorney to conduct a title search. Again, the Residence Barbados team will advice if and when this is necessary.
  4. The seller’s attorney will prepare the contract.
  5. You will need to pay a deposit (typically 10 per cent) to secure the property which will be held in escrow by the seller’s attorney until the sale is completed. For new build properties the deposit process may be different.
  6. All non-residents must obtain permission to purchase property from the Barbados Exchange Control Authority. This is essentially a logistical step as Barbados does not restrict foreign ownership of property.
  7. You will typically be required to make payment of the remaining balance within three to six months upon conveyance of title of the property or immmediately if no conveyancing is required.

Are there any fees or taxes?

In Barbados the seller is required to pay a transfer tax of 2.5 per cent and stamp duty of 1 per cent.

Both buyer and seller are responsible for their own legal fees which typically amount to approximately 1.5 per cent to 2 per cent of the sales price of the property.

There is also an annual Residential Land Tax which varies according to improved value up to 0.75 per cent, but is capped at USD $30,0000.

In addition, there are community and membership fees if you are purchasing on a community. These cover different items such as insurance, security, maintenance etc and are different for each resort. Residence Barbados can advise you accordingly.

Can I arrange a mortgage for my purchase?

Yes, it is possible for foreign nationals looking to invest in Barbados real estate to apply for a mortgage. Mortgages are usually available at around 50 per cent to 70 per cent of the property value with a maximum term of 15 years. You would need to show that you can make the repayments from personal funds and would not be dependent on any rental income to service the mortgage. The process can be slow and foreign buyers are advised to line up funding (whether within or outside of Barbados) before making offers on properties.

The Residence Barbados team works with local mortgage provider to offer mortgages for qualifying non-residents buying, building or improving a second home in Barbados.

I'd like to know more about Barbados. Do you have more information?

Yes, we have put together this more detailed guide to Barbados.

Is Capial Gains Tax charged?

No, there is no Capital Gains Tax payable in Barbados.

The property I am buying is held by a company, is this usual?

Properties in Barbados are often held through a local or foreign company that is registered to do business on the island. Your lawyer will advise you on the pros and cons of buying in your own name or via a company.