Taxation and Barbados 12 Month Welcome Stamp visa
Will visitors have to pay Income Tax in Barbados?
Since its introduction in August 2020, the Barbados 12 Month Welcome Stamp has been attracting skilled professionals, high net worth individuals, and digital nomads to start living and working remotely in Barbados. Visitors who enter into Barbados under the 12 Month Welcome Stamp Visa are not liable to pay Barbados Income Tax. Therefore, visitors are not subject to double taxation. Visitors are subject to Barbados’ 17.5% VAT on the products and services they buy.
Barbados is the perfect destination for anyone looking to move to a country that allows an efficient working environment with no worries about double taxation to coexist with outdoor living and a healthier way of life.
If you are considering starting a business in Barbados, the corporate tax rate is a competitive 1%-5.5%. To find out more, visit Invest Barbados. (link to IB website.