The island was colonised by the English being a British colony from 1625 until 1966. Since 1966, it has been a constitutional monarchy and parliamentary democracy, modelled on the Westminster system, with Elizabeth II, Queen of Barbados, as head of state.
Citizens of the USA, Canada, UK, EU countries, and most Commonwealth & South American countries can stay on vacation in Barbados for 3 months on a tourist visa which is automatically given on arrival.
Visitors wanting to stay longer than 6 months can apply for an extension of 6 months.
Individuals who are retired from work, financially independent and a person of good character can apply for Barbados permanent residence.
Individuals who have permanent residency and have resided in Barbados for 5 years or more are eligible to apply for citizenship by naturalization.
There are no restrictions on foreign buyers acquiring real estate in Barbados. The Government of Barbados welcomes investment from overseas investors.
Search for your perfect property.
Make an offer to purchase the property with the Real Estate Agent.
Engage a lawyer to perform a title search and land survey.
After signing the Agreement for Sale, pay a 10% deposit.
On settlement pay all taxes and fees.
Pay the balance of the purchase amount.
Please seek the advice of a local lawyer. Legal fees depend on the complexity of the transaction and the amount of work performed.
Transfer taxes and stamp duty are paid by the seller.
Stamp duty amounts to 1%.
Land with a building is 2.5% of value or amount of gross consideration above BBD 150,000
Land with no building is 2.5% of value or amount of gross consideration
Barbados does not impose capital gains tax.
Barbados permits dual citizenship and encourages Barbadians living abroad to have dual citizenship.