A PCD Group webinar brought together experts from KPMG, Terra Caribbean, and RBC Dominion Securities to examine what high net worth relocation to Barbados actually involves — and why demand is accelerating.

For decades, Barbados has attracted wealthy retirees seeking sun and simplicity. What is changing is the profile of those arriving: younger entrepreneurs who have built significant wealth through technology, crypto, and digital business, and professionals from the UK and North America who are reassessing where — and under what tax regime — they want to live. The island’s appeal is no longer purely lifestyle. It is increasingly strategic.

Why Barbados?

The island occupies an unusual position. Geographically, it sits within Miami’s time zone, benefits from a temperate climate less extreme than Florida, and sits outside the primary hurricane belt — a consideration that matters more than it once did for people thinking long-term. Its infrastructure, telecoms, healthcare, and financial services are well-developed for an island of its size. Flight connections to the UK are strong year-round, with up to four daily services to London in peak season, and multiple daily routes to Miami and New York.

Politically and economically, Barbados is stable. These factors, combined with a sophisticated legal and tax framework built on English common law, distinguish it from regional alternatives.

The Tax Framework

Chris Sulaiman, Tax Director at KPMG Barbados, described the jurisdiction’s appeal in three layers. First, Barbados has an extensive network of double taxation treaties — around 40 active agreements, including with the UK, US, and Canada — providing predictable, legally sound mechanisms to manage global wealth without double taxation.

Second, and critically for most relocators, Barbados operates a remittance basis of taxation for residents who are not domiciled on the island. Expats generally establish tax residency in Barbados but do not acquire domicile, a concept rooted in English common law that turns on permanent intent rather than physical presence. The practical effect is that foreign-sourced income and capital held outside Barbados is not taxed by the Barbados Revenue Authority unless it is remitted to the island or enjoyed there. That distinction — income versus capital — is important: capital can be brought in freely without triggering a tax event; income spent on the island, including via foreign credit cards, falls within scope.

Third, Barbados levies no capital gains tax, no wealth tax, and no inheritance tax, making it attractive for long-term wealth preservation and succession planning.

For UK relocators, Sulaiman stressed the importance of pre-arrival structuring. Segregated bank accounts should be established outside Barbados before landing to clearly separate pre-existing capital from post-arrival foreign income. For Canadians, Barbados grants a step-up in cost basis on assets upon arrival, and because Barbados does not tax capital gains, the deemed disposition triggered by Canada’s departure tax effectively resets the clock without further consequence on the Barbados side. For US persons, the picture is more complex — citizenship-based taxation means Americans remain subject to US tax regardless of where they live — but the Barbados-US treaty, combined with foreign currency earnings allowances and the island’s favourable effective tax rates, continues to make relocation viable for the right client.

The Property Market

Lianne Earle of Terra Caribbean described a market that has broadened both in buyer origin and in the type of property being sought. UK buyers remain significant, but North American demand has grown steadily. Buyers are no longer primarily looking for holiday homes; they want primary or secondary residences they will actually live in, and this is pushing demand toward larger standalone properties.

The prime market is anchored on the west coast. The Sandy Lane Estate — approximately 150 homes on a private golf estate — remains the benchmark, with list prices starting around US$3.4 million and turnkey homes from US$6.5 million upwards. Gated communities including Royal Westmoreland, Apes Hill, and Sugar Hill offer entry points from US$1.5 million. The first branded residences, under the Pendry flag, have recently launched.

Foreign buyers face no restrictions on ownership. Most luxury transactions are structured as share sales of offshore-held companies — commonly BVI, St. Lucia, or Cayman vehicles — which carries both tax and cash flow advantages but requires careful due diligence. Legal completion on a well-prepared transaction typically runs three months.

Settling In

Marcus Schalkwijk of RBC Dominion Securities described a wealth management approach in which most clients keep financial assets custodied outside Barbados — in Toronto or offshore — while opening local accounts for day-to-day living. Investment mandates typically continue in the same form, though some clients shift their market focus toward North America given the island’s geographic position. Lombard-style borrowing against investment portfolios is available, and RBC Bank Barbados can provide mortgages against qualifying properties, though cash buyers remain the norm at the top of the market.

Schools, including IB-curriculum options, are available but places are limited and should be secured early. Healthcare provision includes a private hospital and a network of urgent care facilities. As Earle put it, those who plan ahead — with the right tax advisor, banker, and real estate agent aligned before arrival — tend to make the transition smoothly. Those who buy a property first and ask questions later frequently do not.