Welcome to the paradise island of Barbados! If you're a digital nomad, expat, or location-independent worker, gaining tax residency here can be a seamless process. Follow these steps to establish your tax residency in this beautiful country and enjoy the vibrant culture, stunning beaches, and friendly community.
Step 1: Meet the Physical Presence Requirement
To qualify for tax residency in Barbados, you must be physically present in the country for more than 183 days in a calendar year. This includes any period spent in Barbados, whether for work, vacation, or any other reason.
Step 2: Secure a Valid Visa or Work Permit
Ensure you have the appropriate visa or work permit that allows you to stay in Barbados. For digital nomads, the 12-Month Barbados Welcome Stamp is a popular option. This visa allows you to work remotely from Barbados for up to a year.
Step 3: Maintain a Permanent Place of Abode
You need to establish a permanent place of abode in Barbados. This could be a leased apartment, rented house, or owned property. Ensure your living arrangements are documented and can be proven if required.
Step 4: Register with the Barbados Revenue Authority (BRA)
Once you meet the physical presence requirement and have a permanent place of abode, register with the Barbados Revenue Authority. You will need to provide personal identification, proof of residence, and other necessary documentation.
Step 5: Obtain a Tax Identification Number (TIN)
After registering with the BRA, you will be issued a Tax Identification Number (TIN). This number is essential for all tax-related matters in Barbados and must be used in your tax filings.
Step 6: File Annual Tax Returns
As a tax resident of Barbados, you are required to file annual tax returns declaring your worldwide income. Ensure you keep accurate records of your earnings and file your returns on time to remain compliant with Barbadian tax laws.
Step 7: Comply with Local Laws and Regulations
Adhering to local laws and regulations is crucial for maintaining your tax residency status. This includes fulfilling any additional requirements set by the Barbados Revenue Authority or other relevant authorities.
Legal References
- Income Tax Act, Cap. 73 of the Laws of Barbados
- Barbados Welcome Stamp (Amendment) Act, 2020
- Barbados Revenue Authority Act, 2014
Useful Links
