Personal taxation in Barbados

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Sols

Staff member
Mentor Group Gold
Individuals resident but not domiciled are taxed on income derived in Barbados and on income from foreign sources where a benefit is received in Barbados.


I've never looked into it in much detail, but my understanding is it's a hybrid of territorial and remittance basis taxation.

Domicile is not time based but based on origin and intent, which I believe means you can live indefinitely in Barbados as long as you intend to leave at some point. No one really checks.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Firstly Barbados is a very easy and fast option to move to. You can use their welcome stamp program to gain residency for 12 months for $2,000.

In terms of tax they have good tax advantage i.e no Capital gains tax and a remittance based tax system. Also dividend and interest income is taxed at 15%.

Furthermore Barbados is one of the few Caribbean Islands with a decent list of Double Taxation Agreements in place.

P.S The downside is the island is not fnancially well having come out of soverign bond default a few years back and then covid.
 

Marie Manila

Entrepreneur
If you really want to move to Barbados, you might also be faced with some other problems than taxation:
 

JohnnyDoe

Schrödinger's guy
Mentor Group Gold
If you really want to move to Barbados, you might also be faced with some other problems than taxation:
Useful thread. What seems attractive in Barbados is the infrastructure and services available, which are superior to most other Caribbean islands. And it is certainly the most developed of the islands outside the hurricane belt.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member

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