General program requirements
The Barbados SERP Program offers two types of residence permits, both of which are called “permanent residence” but one of which is, in practice, conditional:
Category 1 SERP – Permanent Residence indefinite
Make a US$2 million investment from funds sourced outside of Barbados, and prove a net worth in excess of US$5 million.
Pay an application fee of US$3,500 for participants over 60 years of age or US$5,000 for those under 60.
If a work permit is desired, additional fees of US$15,000 (for those over 60) and US$20,000 (under 60) apply.
Category 2 SERP – Permanent Residence 5-year intervals
Make a US$300,000 investment from funds sourced outside of Barbados, and prove sufficient funds to sustain yourself and your dependents for the duration of the 5-year residence permit.
Pay a US$5,000 SERP fee to renew the permit every five years
Category 2 SERP holders are not eligible for work permits.
Dependents may include a spouse as well as children under the age of 18, or older children still attending university and financially supported by the main applicant.
Dependents are subject to an additional application fee of US$150 per person.
Requirements to qualify for citizenship
SERP Category 1 holders receive immediate, unconditional permanent residence, which needn’t be renewed, while Category 2 SERP holders must maintain their investment to renew their residence permit every five years.
Residents who have resided in Barbados for 5 of the last 7 years, and who have been physically present in Barbados for the 12 months immediately preceding the application, are eligible for citizenship.
To naturalize as citizens, residents must demonstrate a mastery of English language.
Applications for this program may be directed to:
Barbados Immigration Department
Legislation upon which this program is based:
Immigration Act 1976 Part II Section 5