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Barbados or Bermuda Open Doors to Digital Nomads/

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KimJongsBrother

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Aug 5, 2020
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#1
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ADMIN not sure if in in correct thread/ Area

https://www.thenational.ae/lifestyl...ountries-offering-remote-work-visas-1.1054655
Barbados too but looks more onerous

Barbados looks a better option 2000 USD zero.tax
Just thought be useful to start a thread fior Countries offering extened/ relaxed tourist or specific Nomad /emote workers.

If you could please add any news or embassy link so we may all check validity and also sdd a title, whether tourist or nomad, cost and an caveats.

Barbados, started July 2020 Validity 12 month, cost $2000 single / $3000 family.
Caveats/ Details:
- will not be subject to Barbados income tax
- must maintain medical insurance
- children may attend private schools or pay a stipend to attend a public school
- renewable after one year
[Barbados looks good option.](https://www.caymancompass.com/2020/08/04/bermuda-barbados-launch-digital-nomad-visas/#:~:text=Introduced%20in%20July%2C%20it%20allows,or%20US%243%2C000%20for%20families.&text=Our%20new%2012-month%20Barbados,world's%20most%20beloved%20tourism%20destinations.”)

Cost of living:
[Barbados Cost of living
[cost of living Barbados](https://www.numbeo.com/cost-of-living/country_result.jsp?country=Barbados
 
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#2
I have been at Barbados recently and I would never make business there!

Take a look at the restrictions about foreign currencies / investments.
There was a very good FAQ at the central banks webpage. They changed the page recently, but you can find it on the internet archive:
https://web.archive.org/web/2020012.../exchange-control-guide/exchange-control-faqs
Some excerpts:
Are Barbadians allowed to keep FOREIGN CURRENCY or GOLD BULLION which comes into their possession?

Not unless permission has been obtained from the Central Bank. All persons resident in Barbados must hand over to an Authorised Dealer as soon as possible, all FOREIGN CURRENCY or GOLD BULLION which comes into their possession for conversion into local currency at prevailing rates of exchange.
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How are DEALINGS IN GOLD BULLION regulated?

GOLD BULLION is unwrought gold, usually in the form of ingots. Dealings in gold come under the same regulations as dealings in foreign currencies. The importation of gold requires Exchange Control permission.
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So you want to TRAVEL ABROAD?

Presumably, you will want some currency of the country to which you are travelling. Residents of Barbados travelling abroad on holiday are allowed to purchase foreign currency up to the equivalent of BDS$7,500.00 per person per calendar year.
Click to expand...

Ok, this is mostly for residents, but they are very hungry of money! I would not trust them at all!
 
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#3
Interesting regarding Barbados. I always had a feeling it is extremely hard to move there, unless you are offered a job. What about living there but doing business elsewhere?

I think Cayman has a business visa / residence approach but Barbados is obviously bigger and has more to offer it seems.
 
#4
BlueMist said:
I think Cayman has a business visa / residence approach but Barbados is obviously bigger and has more to offer it seems.
Click to expand...

Cayman Island has enterprise city and fairly easy 5y residency program. Issue is you need around $100k to last one year of living under the program there. However you will be there and running a resident business tax free.

https://www.caymanenterprisecity.com/
@KimJongsBrother Barbados program sounds interesting.

Is this site below real...lol? Seems like a dream come true.

https://www.barbadoswelcomestamp.bb/
 
#5
@Martin Everson Yes, the Cayman 5y residency program looks very interesting. However it seems to be mainly tourist destination with lot less happening than in Barbados it seems (but I have not visited either of them). Also Barbados is 8h flight vs 12h flight to Cayman islands from Europe.

One thing however about Barbados 12 month visa is that I have not seen anywhere mentioned that it is renewable after this period.
 
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#6
Yes Barbados program ia way cheaper and simpler. Barbados I guess has to do something urgently to support their economy or they will be at the IMF for help. They defaulted on their soverign bonds a few years ago if I remember and with tourism dead they at least want to keep the flight route open and foreigners coming and spending money locally. I commend them on this approach if this is a genuine program as it seems too good to be true.

Basically one can get residency for $2,000 a year (renewable they say.... I guess until covid crisis is over at least). Private health insurance for $600 a year and rent for $700 a month if you look locally. Then work tax free remotely with i.e a EU tax registered Xolo Go account (5% payout charge). Seems perfect as you keep legally 95% of your earnings with no company setup/management worries or anything else.
 
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#7
#8
I am sure the relaxing of visa's will be favourable over the coming year the list wilk grow. As you mention though once COVID is suppressed and travel surges options will dwindle.
Depends how successful the programs are, maybe COVID will have some positives although the huge QE there will be more aggressive Tax recovery actions going forward. (Watchout EMI users)
 
#9
KimJongsBrother said:
I am sure the relaxing of visa's will be favourable over the coming year the list wilk grow.
Click to expand...

I'm going to be watching how successful the program is. I'm already in Caribbean and see the damage covid has done following hurricanes.

Maybe I should have got into Caribbean blocks of studio rentals like I said I was looking into last year. Never saw this covid opportunity coming though...lol.

https://www.offshorecorptalk.com/threads/company-in-saint-lucia.26898/post-105249
 
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#11
Martin Everson said:
Seems remote work program in Barbados is real and for reasons I mentioned...lol. I wonder how many other countries are gonna offer such a scheme.
Click to expand...

I think we need to wait for official info and guidelines, so far I read it is non renewable after 12 months. If this is the case, there is hardly any point for a family with school aged kids to even consider moving there.
 
#12
BlueMist said:
I think we need to wait for official info and guidelines, so far I read it is non renewable after 12 months. If this is the case, there is hardly any point for a family with school aged kids to even consider moving there.
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Agreed thu&¤#

But still a great option depending on your country of origin to get quick non-resident earnings for 12 months.
 
#13
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#14
Well damn $263 visa for Bermuda and also no tax. Keep them coming. Who will be first with the $1 visa?

Well to be honest Georgia is free for 12 months for most passport holders.
 
#17
Guys can we please get back to topic again which started with Georgia and Estonia and is right now by Bermuda and Barbados:oops:
 
#19
The title is relevant isnt it?
I am just referring to the link which highlights a number of countries I did not mention Georgia or Estonia, although you can see it in the link text.
Barbados, seemed the most favourable of all countries listed....
 
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#20
Trashy said:
My country (EU) has no double taxation treaty with either Barbados or Bermuda. So I guess it’s not something I can take advantage of, right? :/
Click to expand...
It depends on a lot of factors but if you become tax resident in Barbados or Bermuda and tax non-resident in your home country (the rules for which vary, so look them up), you should in theory qualify for zero tax in Barbados or Bermuda and have no tax burden at home.
 
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