Introduction to Work from Paradise: Barbados Welcome Stamp and Bermuda Work from Bermuda Visaigital Nomad Visa
As a digital nomad, finding the perfect location to work from can be a challenge. You want a place with a good internet connection, a low cost of living, and a friendly environment. And, if you’re an American, you also want a place where you can reduce your tax burden. That’s where the Barbados Welcome Stamp and the Bermuda Work from Bermuda visa come in. These visas allow you to live and work in paradise while taking advantage of their tax-free status.
The Barbados Welcome Stamp
The Barbados Welcome Stamp is a one-year visa for digital nomads looking to work from the beautiful island of Barbados. It costs $2000 for an individual and $3000 for a family, and best of all, there is no income tax collected while you’re working there. This makes the Barbados Welcome Stamp an attractive option for American digital nomads looking to take advantage of the Foreign Earned Income and Physical Presence Test.
To apply for the Barbados Welcome Stamp, you need to meet certain prerequisites. These include being at least 18 years old, possessing valid health insurance, and demonstrating employment with a legitimate company or your own registered and operating business outside of Barbados. If you do not meet these prerequisites, you will not be able to apply for the visa, and your application fee will not be refunded.
The Bermuda Work from Bermuda Visa
The Bermuda Work from Bermuda visa is another option for digital nomads looking to work from paradise. Unlike the Barbados Welcome Stamp, the application fee for the Bermuda Work from Bermuda visa is much more affordable at only $263. And just like the Barbados Welcome Stamp, there is no income tax collected while you’re working in Bermuda.
To be eligible for the Bermuda Work from Bermuda visa, you need to be at least 18 years old and pay the application fee. You also need to not have been convicted of a crime in Bermuda or elsewhere, possess valid health insurance, demonstrate employment with a legitimate company or your own registered and operating business outside of Bermuda, and have substantial means or a continuous source of annual income.
It’s important to note that while the application fee for the Bermuda Work from Bermuda visa is low, the cost of living in Bermuda is very high, so it may not be the most affordable option in the long run.
Time Zone
Barbados is in the EST time zone and Bermuda is one hour ahead at UTC- 3. So both are ideal if you are working with US clients or companies.
Whether you have been a digital nomad for years or you are newly working from home or working from anywhere, check out these options to work from paradise and reduce yourtax burden as well. If you have any questions about your taxes, get in touch with us at nomads accounting.
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