Barbados attracts UK business interests through the Scottish Annual Inward Trade and Investment Mission, organized by Invest Barbados in partnership with Renfrewshire Business Network and the UK’s Department of Business and Trade, proving successful for many entities
Why Investors choose Barbados?
Barbados offers a business-friendly environment underpinned by a long history of political and social stability, with a legal system based on English common law. The country has a well-educated English-speaking workforce that includes a range of professional services, which are readily available including tax advisors, reputable international banks, global accounting firms, legal firms and management companies offering the full gamut of corporate services.
The government of Barbados is pro-business. Presently, island-wide 4G LTE and fiber optic high-speed internet is available. The country also boasts a robust physical infrastructure and serves as a strategic hub, located between North and South America with a modern seaport and an international airport that provides direct flights to major international cities. Barbados is safe and offers a high standard of living with excellent healthcare and education, making it attractive for expatriates and their families. Indeed, it is the ideal place to work, live and raise families.
Wide ranging investment opportunities with a focus on the green economy
The jurisdiction has an expanding portfolio of global entities and continues to diversify the range of investment opportunities in sectors including but not limited to, tourism, global education, wealth management, financial services, business process outsourcing, renewable energy, niche manufacturing, agribusiness, real estate, construction, and more recently, life sciences and film production.
Of note is that Barbados continues efforts to adopt eco-friendly and sustainable activities towards a green economy. Opportunities exist for the greening of various industries including tourism, agriculture, fisheries, housing and transport. While the country has made good progress in solar PV energy generation, investment is ripe for Barbados’ transition to renewable energy sources and especially in areas of energy storage and enhancement of the sole energy grid. Additionally, it is important that Barbados continues its transition process to a circular economy that presents sustainable opportunities for waste reduction including recycling and repair among other innovations. This greening process is critical now and for the future, and given our significant uptake in solar panel installations, the influx of electric vehicles, buses and batteries, once inoperable will require disposal. Reaching its renewable energy targets will require Barbados to ramp up initiatives designed to further attract investment and sustainable innovative solutions.
Barbados Welcomes HNWIs & Digital Nomads
Barbados offers specific programmes and visa opportunities for non-residents who wish to live and work in Barbados. High net worth individuals (HNWIs) and their dependents can take advantage of the Special Entry Permit (SEP) programme, which allows persons to live and/or do business in Barbados (work permit carries an extra cost).
Barbados also continues to welcome several non-nationals to its shores under the Barbados Welcome Stamp programme. Introduced in 2020, this programme offers qualifying individuals the opportunity to reside and work in Barbados under a 12 month remote-working visa, that can be renewed for another year.
Barbados is Open for Business
In conclusion, Barbados offers a favourable business climate and other advantages such as being strategically located and well connected, providing stable governance, pro-business policies and incentives, a skilled workforce and an excellent quality of life. These factors collectively make Barbados an attractive choice for entrepreneurs and businesses looking to establish or expand their presence in the Caribbean region and beyond. Come join us!
