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Barbados introduces plan to allow visitors to work remotely there for a year

money.yahoo.com

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Re: Barbados introduces plan to allow visitors to work remotely there for a year

#41

Post by sk0g »

tbronchain wrote: post #22

Georgia just introduced something similar: https://agenda.ge/en/news/2020/2654

You know, it's kinda funny - I am a citizen of both Georgia and the first country on the list of approved countries there, and was thinking about spending a month or two over there since my job went remote only. Yet, due to my ties to Georgia, I can't visit for a few more years, or I'd have to piss away a year in military service.

Oh well, not the best of times to be travelling anyway, and doesn't seem like it's getting better for... a while anyway.

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#42

Post by Proven »

Have to try to make up for the lost tourism revenue.

Do they have First World bandwidth for more than 2-3K bandwidth hungry cloud workers?

PS: it's always encouraging to see how the overwhelmingly statist HN crowd positively reacts when there's a chance to lower their own taxes... Sadly they still want to increase taxes paid by others...

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#43

Post by sk0g »

paranoidrobot wrote: post #35
darrenoc wrote: post #7

Earlier quoted context omitted.

If you're not a US citizen, you won't have to pay income at all due to tax residency rules. only the US is brazen enough to charge non-resident citizens income tax

It's the residency rules that matter here. For an Australia, you pay income tax if you're a resident for taxation purposes. For an Australian Citizen to answer that they're not a resident for taxation purposes is complicated and depends in part on the type of Visa you have. Last I looked, for me, as an Australian citizen, to not have to pay tax would mean getting a permanent Visa in another country and being resident…

Do you mean if you pay, say, 20% tax in Switzerland as an Australian, never setting foot in Australia for an income year. Then you lodge tax in Australia and the ATO says you only have tax credits for 20% of your income, meanwhile you'd be paying 32% of your income as tax - you would then have to pay ATO the 12% difference out of pocket?

Do you have any links to information regarding Australian citizens being taxed abroad? I know for HECS, etc you're still meant to lodge and pay those amounts, but didn't realise it might be a fair bit worse than that!

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#44

Post by joshvm »

UglyToad wrote: post #4
altvali wrote: post #2

Does 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…

It's also dependent on how long you spend in the UK (not just out) and other things. If you spend half the year abroad, but then come back for 90 days (in a home you own or rent), you're resident again. HMRC have a flowchart you can follow:

https://www.gov.uk/government/publications/rdr3-statutory-re...

Also remember that tax year counts, not calendar!

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#46

Post by EE84M3i »

paranoidrobot wrote: post #35
darrenoc wrote: post #7

Earlier quoted context omitted.

If you're not a US citizen, you won't have to pay income at all due to tax residency rules. only the US is brazen enough to charge non-resident citizens income tax

It's the residency rules that matter here. For an Australia, you pay income tax if you're a resident for taxation purposes. For an Australian Citizen to answer that they're not a resident for taxation purposes is complicated and depends in part on the type of Visa you have. Last I looked, for me, as an Australian citizen, to not have to pay tax would mean getting a permanent Visa in another country and being resident…

>They specifically excluded time-limited visas

Even if the time-limit is years at a time?

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#47

Post by input_sh »

jonahbenton wrote: post #38
cblconfederate wrote: post #36

Interesting how , in a remote work world, having a passport is a burden . There might be a demand for an "airbnb for passports" in the future

Being able to use someone else's passport....is not now and even more so in the future will never be a thing. But getting passports from more jurisdictions and choosing which to present- that is and will be even more of a thing.

Regarding your second point, there's a couple of dozens of countries that specifically require you to denounce your other citizenship to gain theirs, as well as those whose citizenship is lost automatically if you become a citizen of some other country.

I do see the cases of multiple citizenships (and therefore multiple passports) increasing in the future, but I wouldn't hold my breath for it to become a common occurrence within our lifespans.

Re: Barbados introduces plan to allow visitors to work remotely there for a year

#48

Post by throwaway894345 »

GordonS wrote: post #37

This is really interesting - I wonder if, in our post-COVID world, we'll see other countries doing the same. I'm trying to see any disadvantages for countries that do this, but the only thing I came up with is the possibility of distorting local rental prices. But presumably if enough countries offered such a visa, applicants would be spread over those countries, causing less distortion.

I would love to work remotely from Europe. I would think it would be in the interest of European countries to make this kind of arrangement because I would be spending my cushy US salary on European goods and services and not taking a job away from a European.
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