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Once the company setup is complete and the individual has a work permit in place, the next step involves applying for a residency permit, followed by a tax number. The timeline for obtaining the tax number generally spans from two weeks to a month, during which individuals are encouraged to explore Barbadian life.

Apart from the beautiful beaches and scenic views, the island boasts a welcoming culture and good infrastructure, making it a pleasant place to stay during this process. Once the tax number is acquired, there are no subsequent residency requirements, and individuals can manage their tax responsibilities remotely.

Tax Advantages of Barbados

Barbados presents several compelling tax incentives: