Barbados introduces plan to allow visitors to work remotely there for a year
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Re: Barbados introduces plan to allow visitors to work remotely there for a year
#2Does 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?
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#3Does 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?
Their FAQ says you don’t pay Barbados income tax
It doesn’t mention being only for US citizens, it appears in principle citizens of any country are eligible. (In practice, I imagine some countries’ citizens will find it easier to get approved than others, due to differences in national security risk, likelihood of submitting refugee claims, etc.)
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#4Does 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 guess.
I got my visa and I'm hopefully heading out towards the end of September, it should be fun.
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#5Does 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.
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#6Does 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…
half a year is still good
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#7Does 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?
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
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#8> 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.
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#9Does 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.
> you apply for FEIE and won't have to pay federal income tax as a US citizen.
The Foreign Earned Income Exclusion only applies to the first $107,600 you earn in 2020. You still have to pay taxes on the rest.
Re: Barbados introduces plan to allow visitors to work remotely there for a year
#10Earlier 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…
half a year is still good
Luckily since the tax year ends in February (?) it should be possible to take almost the full year by having it split into 2 half years over the tax year ends without having to change any tax stuff, I don't think the non-resident implications are too bad. I'm just going to sort out the accountancy stuff when I'm out there, but even if it's expensive it's worth it for the experience.