Barbados is a popular Caribbean destination. And like many others, offers residence by investment to international investors seeking to relocate there. However, it’s one of the most expensive programs in the world, only accessible to wealthy individuals who can contribute to the island’s welfare. Called the Special Entry and Reside Permit (SERP), this program requires investments over $2,000,000.
Barbados Residence by Investment programs (SERP)
- Individuals with at least $5 million in net worth. The individual is required to invest a minimum of $2 million. That amount can be invested in Barbadian investments, or in residential property, but the funds must be sourced from outside its territory.
- However, individuals willing to invest $2 million but lack the $5 million net worth requirement are still eligible, though they only receive a residency permit valid for 5 years.
How Long Do SERPs last?
This depends on the individual…
- Those aged over 60 are allowed an SERP with indefinite residency.
- Those under the age of 60 are provided an SERP that lasts until their 60th From there, the individual can renew the permit to an indefinite time period.
- Those with special professional skills are allowed a 5 year SERP.
- Dependants under 18 years of age (or in fulltime education) are given a similar status to the SERP applicant. Same applies to spouses.