Permit of Economic Residence

Montserrat's Permit of Economic Residence is an investment-based residence program that allows foreign nationals to live in this British Overseas Territory in the Caribbean by making a qualifying capital investment of at least EC$400,000 (approximately US$148,000). The permit is granted by the Governor in Council under Section 19 of the Immigration Act and administered through the Office of the Deputy Governor. It targets foreign investors who want Caribbean residence through bank deposits, real estate, or government securities — with no minimum physical presence requirement.

• Minimum qualifying investment of EC$400,000 (~US$148,000) through one of three routes
• Criminal record clearance from country of residence
• Medical examination certificate
• Valid passport
• No educational or professional qualifications required

Three qualifying investment routes are available, each with the same EC$400,000 minimum threshold:

• Bank deposit — Term deposit in a commercial bank operating in Montserrat. This is the fastest route, with approximately 3-month processing time.
• Real estate — Purchase of property in Montserrat valued at minimum EC$400,000 (~US$150,000). Non-nationals must also obtain an Alien Land Holding Licence under the Landholding Control Act, costing EC$2,500 or 5% of the purchase price (whichever is greater), which adds 4-8 weeks to processing.
• Government securities — Investment in Montserrat government bonds or securities.

• Valid passport
• Two passport-sized photographs
• Criminal record clearance from country of residence
• Medical examination certificate
• Proof of qualifying investment (bank deposit confirmation, property purchase documentation, or government securities certificate)

The permit is granted for 5 years and is renewable indefinitely for additional 5-year periods, provided the qualifying investment is maintained. There is no minimum physical presence requirement to keep the permit active — holders can maintain residence status solely by keeping the investment in place.

The permit can be endorsed to include a spouse (not separated by court decree or deed of separation), children, stepchildren, and adopted children under 18. No separate investment is required for dependants.

Montserrat levies personal income tax at progressive rates from 5% to 40%, with a tax-free threshold of EC$15,000 per year. Non-domiciled residents benefit from remittance-basis taxation, meaning only income remitted to Montserrat is taxed — not worldwide income. There is no capital gains tax on most assets, no inheritance tax, and no wealth tax. Corporate income tax is 20%. Residents absent for 183 or more days in any 12-month period without a permanent place of abode may qualify as non-resident for tax purposes.

Applications are submitted to the Governor in Council through the Financial Secretary at the Office of the Deputy Governor in Brades, Montserrat. There is no online application portal — applications must be submitted directly to the government.

• Application fee: EC$1,000
• Processing fee: EC$20,000
• Processing time: Approximately 3 months for the bank deposit route; 6-8 months for real estate and government securities routes

Contact: [email protected]

The Permit of Economic Residence grants residence rights. Holders wishing to work in Montserrat may need to obtain a separate work permit from the Ministry of Communications, Works, Energy and Labour.

After holding the permit for 5 years, holders may apply for a Permit of Permanent Residence, which requires demonstrating monthly income of US$5,000 or more, or property ownership valued at US$50,000 or more. One year after obtaining permanent residence, holders may apply for naturalization as a British Overseas Territories Citizen (BOTC), requiring 5 or more years of legal residence. BOTC holders may then apply for registration as a British Citizen under the British Overseas Territories Act 2002. Dual citizenship is permitted.