With increasing globalisation comes the need for ease of
movement in relation to work, education, residence, retirement or
recreation. High net worth individuals (HNWIs) are generally more
inclined to change their jurisdiction of residence for reasons of
asset protection, succession planning, safety and security, greater
business opportunities, or simply to enjoy nature's bounty, all
of which are possible in Barbados. Indeed, residence in Barbados is
particularly attractive due to the island's cosmopolitan feel
and good safety record.
The laws of Barbados allow for various types of residency, which
include immigrant status, permanent residency, citizenship, being a
CARICOM Skilled National, and holding a work permit (WP). More
recently, the Government introduced the Special Entry and Residency
Permit (SERP), specifically geared towards HNWIs.
