Barbados
Barbados is located in the Lesser Antilles some 100 miles east of its nearest neighbors: St Lucia and St Vincent and the Grenadines. It is 21 miles long and 14 miles wide and fairly flat. The population runs to around 280,000 making it significantly busier and more crowded than most other Antillean islands. In addition to the usual Caribbean activities and draws, there is excellent golf, fairly good surfing and more unusual activities like horse racing and cricket tournaments. It is among the most British islands in the Caribbean remaining continually a British colony from the 1600s until 1966.
The Grantley Adams International Airport (BGI) is fairly modern and allows for direct flights from North America and London, though many people connect to Barbados via San Juan or Montego Bay. The Barbados dollar is pegged to the US dollar at roughly $2 BD to $1 US. Electricity is North American standard 110-volt and access to banks and ATMs is better than Caribbean average. Internet access, satellite tv and most modern amenities are widely available.
Taxes and investment information: An attorney is required to ensure proper title and handles closings in Barbados - estimate 1-2% for legal fees. In 2008, the Barbados government lowered the transfer tax from a pretty steep 7.5% to a much more reasonable 2.5%, reflecting a slow-down from the "bust" period of the late 1990s and early 2000s [please note that the first $125,000 Barbados dollars is exempt from transfer fees]. An additional 1% stamp duty is also imposed. Many continue to hold property in a company name, thus allowing future transfers of the property to be free from transfer taxes (the company is transferred and the property goes with, so no actual change in title occurs). Real estate commissions can be as low as 3-5% in Barbados. There are no capital gains taxes in Barbados. There is a value added tax in Barbados of 15%, which applies to a great many things - even the legal fees on your closing.
During the late 1990s, Barbados was the hottest market in the Caribbean for foreign real estate invesment, particularly from the United States and Europe. After the rush slowed in the early 2000s and was reduced to a crawl in the last few years, real estate opportunities and significantly better deals are far more easy to come by. As of early 2012, Barbados appears to be a better than average prospect for investors in the Caribbean.
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