Contact Barbados

Finance

Rental Income

Barbados has a mature tourist industry dating back to the 1950s and is today a favorite destination for British, American, Canadian and South American tourists. The combination of stable government, stable property market, famous pink and white sand beaches and ideal climate make it a favorite destination for the Rich and Famous. The Barbados Beach Resort is located on the beach just a few minutes from the airport in one of the most un-spoiled, secluded and desirable areas of this tropical and uniquely friendly paradise.

The Hotel condo units at the Barbados Beach Resort will be operated as a rental pool providing all owners with an equitable distribution of Income and Costs. Owners of the Town Homes and Condominium Apartments will have the option of joining the pool or operating on an individual cost and revenue basis.

Mortgages

Barbados has been prudent in the development of its international banking sector. As a result it has emerged as a jurisdiction known for its client service and respect for confidentiality on the one hand while on the other hand adhering to good regulatory and supervisory practices. Offshore banking is governed by the Offshore Banking Act Cap 325 and one of its primary purposes is to encourage the development of Barbados as a responsible offshore financial centre.

Homes in Barbados can be purchased with a combination of cash (Equity) and a mortgage. Foreign buyers can obtain mortgage finance from local financial institutions on a 70% (or less) loan to value basis with repayments terms up to 15 years.

Legal, Financial, Accountancy and Tax advice is readily available in Barbados and your buyer's agent will be able to introduce you to appropriate local companies specializing in these activities.

Management Services

The whole resort will be professionally managed by a major international hotel brand that will provide housekeeping, maintenance and hospitality services for guests and owners. You will also benefit from their worldwide marketing resources in terms of guest reservations should you wish to rent your home while you are not there.

Why Invest in Barbados?

  1. Barbados is the third oldest parliamentary democracy in the world with over 350 years of stable government.
  2. In the last 50 years Barbados has not suffered a recession in property prices which have increased steadily since the 1950's.
  3. Barbados is the leading island destination for tourists in the southern Caribbean and currently represents 14% of its GDP.
  4. The South East of Barbados is relatively under developed and is expected to become the next boom area on the island.
  5. Buying early in the development usually leads to increased demand, increasing prices and good re-sale opportunities.
  6. Barbados has a year round tourist industry leading to consistent rental income and high occupancy. Increases in tourism have significantly increased the demand for Vacation Homes and rental rates are currently at a premium.
  7. The weather is consistently warm throughout the year between 75º & 85º Fahrenheit.
  8. The Barbadian lifestyle is enviable and a favorite with the rich and famous attracting Americans, Canadians and Europeans to its pristine beaches, crystal clear water and vibrant flora with great music and delicious food.
  9. Barbados is easy to get to having direct flights from many major cities in Europe, America, Canada and South America.
  10. Barbados is culturally rich and Bajans are known worldwide for the friendliness and hospitality.
  11. Barbados has a very low crime rate.
  12. The property market has become a significant sector of the domestic economy.

The Economy

Offshore finance and informatics are important foreign exchange earners, and there is also a light manufacturing sector. The government encourages direct foreign investment and continues to privatize the remaining state-owned enterprises.

A second home investment in Barbados is attractive because of widely available foreign currency mortgages, high quality legal services, a recently reduced property transfer tax and the absence of capital gains tax.

The main factors responsible for the improvement in economic activity include an expansion in the number of tourist arrivals, an increase in manufacturing, and an increase in sugar production. Recently, offshore banking and financial services also have become an important source of foreign exchange and economic growth.

Economic growth has led to net increases in employment in the tourism sector, as well as in construction and other sub-sectors of the economy. The Barbados government encourages development in: financial services, informatics, e-commerce, tourism, educational and health services.

The Barbadian government has stated that the county is on course to become the worlds smallest developed economy by 2025. Alongside this motivation for economic success is an absolute commitment to preserving the environmental and cultural heritage that make this beautiful island so desirable.