What’s the usual rent for a family home there?
Barbados introduces plan to allow visitors to work remotely there for a year
21–30 of 170 posts
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#22Georgia just introduced something similar: https://agenda.ge/en/news/2020/2654
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#23Does this apply to U.S. passport holders only? If not, what about taxes? If you spend 12 months in Barbados, will you have to pay your taxes there?
Other commenters have address your questions, but what I will add is that if you stayed the full 12 months (Or really, 330 days) then you apply for FEIE and won't have to pay federal income tax as a US citizen.
This isn't exactly true. You only get the Foreign Earned Income Exclusion if you actually have foreign earned income. Just can't just live abroad and pretend your income is foreign earned. There IRS defines what is and isn't foreign earned income.
If you move to Barbados and just keep doing the same job you were doing in the US, then it almost certainly isn't foreign earned income.
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#24> Mottley addressed the concern: “In terms of broadband, we have two major telecommunications companies, and at the same time we are looking to see how we can continue to boost our national television station and move it from being a broadcasting entity to digital services.” Not... the most inspiring, but maybe the internet is good? That would be my biggest worry. It's an absolute must have.
There are these results which you may or may not choose to trust: https://testmy.net/country/bb
These look good on average, though if you click through to "Fastest Cities", some corners of the country look very slow.
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#25Earlier quoted context omitted.
"worth paying for tax advice" I knew someone who, through their employer, got tax advice from one of the big name accounting firms that turned out to be completely wrong - leaving them liable for tax both in the UK and in the country they had travelled to. It all got sorted out in the end but took a long time and was he was rather unhappy with the whole thing, as you can probably imagine.
I had this situation where an employee insisted on tax advice from the company's lawyer. The law firm represents who is paying, same for liability. In the end we sponsored an expensive email basically saying as such.
One thing I have learned through bitter experience is if there is a significant tax issue at stake then get your own lawyer and/or tax adviser.
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#26Earlier quoted context omitted.
As the other poster says you continue to pay income tax in your home country and you're also forbidden from working for any Barbados company since they don't want people taking local jobs. However this may have tax consequences in your home country. I'm from the UK and if you spend more than 180(?) days abroad in a tax year you become non-resident which has some implications. You'll need to consult an accountant I gu…
> I'm from the UK and if you spend more than 180(?) days abroad in a tax year you become non-resident which has some implications This isn’t quite accurate. There are other tests that come into play, including whether you own a house in the UK, and how long you spent outside the UK for the rest of the year (and the preceding years). Basically if you live in the UK, then spend 180 days (or even a whole year) outside t…
If you are considered a non resident - does that mean you pay less UK tax or that you need to register in another country?
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#27Earlier quoted context omitted.
>> only the US is brazen enough to charge non-resident citizens income tax Don't forget Hungary, Myanmar, and Eritrea, too! https://en.wikipedia.org/wiki/International_taxation
"Hey, we're doing the same things as Hungary, Myanmar, and Eritrea" is not usually a good argument for anything. Anyway, the Hungary part surprised me since I'm a Hungarian citizen living abroad and have never been bothered about tax. The Wikipedia table says residents of countries with tax treaties are exempt, and that should be pretty much all of them? The PDF link from Wikipedia is broken, which is normal for how…
Same for my partner who is Hungarian though in her case it was one EU country to another (well it was at the time, won't be soon, bloody brexit).
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#28Does this apply to U.S. passport holders only? If not, what about taxes? If you spend 12 months in Barbados, will you have to pay your taxes there?
As the other poster says you continue to pay income tax in your home country and you're also forbidden from working for any Barbados company since they don't want people taking local jobs. However this may have tax consequences in your home country. I'm from the UK and if you spend more than 180(?) days abroad in a tax year you become non-resident which has some implications. You'll need to consult an accountant I gu…
>since they don't want people taking local jobs.
kudos to their government
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#29Does this apply to U.S. passport holders only? If not, what about taxes? If you spend 12 months in Barbados, will you have to pay your taxes there?
As the other poster says you continue to pay income tax in your home country and you're also forbidden from working for any Barbados company since they don't want people taking local jobs. However this may have tax consequences in your home country. I'm from the UK and if you spend more than 180(?) days abroad in a tax year you become non-resident which has some implications. You'll need to consult an accountant I gu…
But there is no real reason for UK to actively track residents and tell them "you know what, we discovered that you should pay your money to another country, not us". What is more reasonable is that the third country would symay "hey buddy maybe you should be paying your taxes here not in UK" but in this case Barbados said they wouldn't
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#30Earlier quoted context omitted.
> I'm from the UK and if you spend more than 180(?) days abroad in a tax year you become non-resident which has some implications This isn’t quite accurate. There are other tests that come into play, including whether you own a house in the UK, and how long you spent outside the UK for the rest of the year (and the preceding years). Basically if you live in the UK, then spend 180 days (or even a whole year) outside t…
If you are considered a non resident - does that mean you pay less UK tax or that you need to register in another country?
If you permanently emigrate and then work for a foreign company, why would you pay tax in the UK?
Rules for temporary emigration are more complex, but if you get a job in Germany and move there, returning to the Uk occasionally to see friends and family (say 3 or 4 weeks a year) clearly you don’t need to pay tax in the Uk. Will still have to repay your student loans though - declare your income and pay the bill (which is 9% above an income that varies depending on the country you have loved to)