Special Entry and Reside Permit (Category 1: High Net Worth Investor)

The Special Entry and Reside Permit (SERP) Category 1 is Barbados' residence-by-investment programme for high-net-worth individuals. It offers indefinite residency in exchange for a minimum investment of USD 2,000,000 in Barbados funded entirely from foreign-sourced funds. Administered by the Barbados Immigration Department under the Immigration Act, Cap. 190, Category 1 is the only SERP category that includes automatic eligibility to apply for a work permit, enabling holders to establish and operate businesses locally in addition to residing in the country.

• Foreign national of any nationality
• Minimum investment of USD 2,000,000 in Barbados from funds sourced outside the country
• Certified net worth exceeding USD 5,000,000
• Qualifying investments include real estate, property development, manufacturing, tourism ventures, bank deposits, mutual funds, bonds, securities, or other financial instruments
• Investment must be unencumbered and source of funds must be traceable to foreign origins
• Valid health insurance covering the full SERP duration: minimum USD 500,000 per year for applicants aged 60 or older, or USD 375,000 for those under 60
• Clean police record from all countries of residence for six months or more in the past three years
• No specific educational or professional qualifications required

• Completed Form B (Application Under Section 13(3) of the Immigration Act)
• Two recent passport-sized photographs
• Original and certified copy of birth certificate
• Marriage certificate (if applicable); divorce/death certificates where relevant
• Certified copy of valid passport bio-data page (valid for 6+ months)
• Police Certificate of Character from all countries of residence in the last three years (British citizens may provide Enhanced Disclosure)
• Certified statement of assets exceeding USD 5,000,000
• Evidence of investment in Barbados of at least USD 2,000,000 from foreign-sourced funds (property title deeds, bank statements, investment statements, audited financials)
• Health insurance policy valid in Barbados meeting minimum coverage thresholds
• Proof of relationship for any dependants (birth certificates, marriage certificates)
• Certified English translations of all non-English documents by an approved translator (Language Centre at Barbados Community College, UWI, or the relevant Embassy/Consulate)

Applicants aged 60 or older receive an indefinite (non-expiring) permit. Applicants under 60 receive a 5-year renewable permit, with renewal requiring a USD 5,000 per adult fee and resubmission of documentation demonstrating continued compliance. Upon reaching age 60, the permit converts to indefinite and no further renewal is required. After five years of lawful residence as a SERP holder, applicants may apply for immigrant status; after a further five years, permanent resident status may be sought.

Spouses and dependent children may accompany the principal applicant. Each dependant pays a USD 150 non-refundable application fee. Minor dependants and students pay a one-time USD 150 fee covering the full SERP duration. Adult spouses pay the full SERP approval fee (USD 5,000 for those aged 60 or older, USD 3,500 for those under 60). All dependants must carry valid health insurance meeting the same coverage thresholds as the principal applicant. Dependants enrolled at a Barbados university must submit evidence of schooling every 3 years.

Barbados does not levy capital gains tax, inheritance tax, or wealth tax. Residents who are not domiciled in Barbados are taxed only on Barbados-sourced income and on foreign-sourced income remitted to Barbados (remittance basis). Income tax rates are 12.5% on the first BBD 50,000 of taxable income and 28.5% above that threshold. Barbados has double taxation treaties with over 30 countries including the United States, Canada, the United Kingdom, China, and CARICOM member states. SERP holders who spend more than 182 days per year in Barbados should file a tax residency declaration with the Barbados Revenue Authority. There is no mandatory minimum presence requirement under the SERP itself, so holders may manage global investments without being forced into Barbados tax residency.

Category 1 is the only SERP category that includes automatic eligibility to apply for a work permit. A separate work permit application must be submitted to the Immigration Department. Work permit fees are USD 15,000 (one-time) for applicants aged 60 or older, or USD 20,000 (one-time) for those under 60. Alternatively, annual fees of USD 1,750–2,000 apply.

1. Obtain Form B from the Barbados Immigration Department website (immigration.gov.bb) or in person at the Immigration Department, BTI Corporate Centre, Princess Alice Highway, Bridgetown.
2. Submit the completed form with all required supporting documents and the non-refundable USD 150 application fee. Applications without fee payment are not processed.
3. An initial eligibility assessment is completed within approximately 5 working days. If additional documentation is needed, the applicant is notified.
4. The full review is conducted by the Chief Immigration Officer. Processing time ranges from several weeks to several months depending on volume and document completeness.
5. Upon approval, pay the SERP fee: USD 5,000 for applicants aged 60 or older, or USD 3,500 for those under 60.
6. If a work permit is also desired, submit a separate work permit application with the applicable fee.

For enquiries, contact ACIO Weekes at the Immigration Department: +1 (246) 434-4171.