If you’ve been dreaming of owning a slice of Caribbean paradise, I have good news for you. Barbados is one of the most welcoming islands in the region when it comes to foreign property ownership. There are no restrictions preventing you from purchasing real estate here—whether you’re looking for a beachfront villa on the West Coast, a cozy apartment in Christ Church, or a vacation home that generates rental income while you’re away.

Having helped buyers from the UK, US, Canada, and across Europe navigate this process, I can tell you that purchasing property in Barbados is more straightforward than most people expect. Let me walk you through exactly what’s involved.

The Short Answer: Yes, Foreigners Can Buy Property in Barbados

Barbados places no restrictions on foreign ownership of real estate. Foreign buyers enjoy the same freehold ownership rights as Barbadian citizens, including the ability to purchase beachfront property. This open policy, combined with a stable government and transparent legal system, is one of the reasons Barbados has attracted international buyers for decades.

The process requires some specific steps that are unique to non-resident buyers, but none of them are particularly complicated when you have the right guidance.

What You’ll Need: Central Bank Approval for Foreign Buyers in Barbados

The main requirement for non-residents is obtaining approval from the Exchange Control Authority at the Central Bank of Barbados. This might sound intimidating, but it’s largely a formality. The approval process exists to track foreign currency entering the country and to ensure you can repatriate your funds when you eventually sell the property.

Your attorney handles this application as part of the standard conveyancing process. Approval is typically granted without issue, and it doesn’t add significant time to your purchase timeline. The key thing to understand is that registering your funds with the Central Bank protects your investment—it’s what allows you to take your money back out of Barbados in the future.

The Buying Process For Foreigners in Barbados: Step by Step

Once you’ve found a property that feels right, here’s how the purchase typically unfolds. You’ll submit a written offer through your agent. If the seller accepts, both parties sign a sale agreement and you’ll pay a deposit—usually 10% of the purchase price, held in escrow by the attorneys.

Then begins the conveyancing period, which generally takes four to six weeks. During this time, your attorney verifies the title, checks for any encumbrances on the property, and ensures all legal aspects are in order. They’ll also handle your Exchange Control application.

At completion, you pay the remaining balance, sign the deed, and receive your keys. The entire process from accepted offer to ownership typically takes two to three months.

Want an easy to view Property Buying Guide for Babrbados as a foreigner: VIEW HERE

Do You Need to Be on the Island?

No. Many of my clients complete their purchases remotely, which is entirely normal for international transactions. You can arrange viewings during a visit to the island, then handle everything else from home. Your attorney can set up a Power of Attorney arrangement, or documents can be signed by a notary which is more common.

That said, I always recommend visiting in person before making a final decision. Photos and video tours are helpful, but there’s no substitute for experiencing the property, the neighbourhood, and the feel of island life firsthand.

Financing Options for International Buyers

Foreign buyers can obtain mortgages from local Barbadian banks, typically borrowing 65-70% of the property value, with some institutions offering up to 80% depending on your financial profile. Interest rates currently range between 3.5% and 7% for Barbados dollar loans, and 5.5% to 8% for US dollar loans.

You’ll need to demonstrate that you can service the mortgage from personal funds—banks generally won’t factor in potential rental income when assessing your application. Some buyers also explore offshore financing through international banks, or work with developers who offer direct financing arrangements on new builds.

If you’re planning to finance your purchase, I’d recommend getting pre-approval sorted before you start seriously viewing properties. The mortgage process in Barbados can take time, and having financing in place strengthens your position when making an offer.

Personal Name or Company Structure?

This is one of the most common questions I receive, and the answer depends entirely on your circumstances. Buying in your personal name is simpler and involves lower upfront costs. It’s often the right choice for a straightforward vacation home purchase.

However, purchasing through an offshore company—typically an International Business Company (IBC)—can offer advantages for certain buyers. These include simplified resale processes (you sell the company shares rather than the property itself), asset protection, estate planning benefits, and the ability to transact in foreign currencies. You also avoid the 2.5% property transfer tax and 1% stamp duty on a future sale.

The trade-off is higher setup costs and ongoing annual maintenance fees for the company structure. This is something to discuss with your attorney and tax advisor, who can help determine which approach makes sense for your specific situation.

Costs to Expect

Beyond the property price, budget for legal fees of approximately 1.5-2% of the purchase price, plus VAT at 15%. There’s no stamp duty payable by the buyer—that’s the seller’s responsibility. If you’re purchasing through a company, factor in incorporation and annual maintenance costs as well.

The real estate agent’s commission is typically paid by the seller, so working with an agent to find and negotiate your purchase costs you nothing directly.

See fees for buying in Barbados as a foreigner: USA, Canadian and UK client here.

Why Barbados Continues to Attract International Buyers

The market here has shown steady growth, with property values appreciating consistently over the past decade. The West Coast—often called the Platinum Coast—remains highly sought after for luxury properties, while areas like Christ Church and St. George offer excellent value in the mid-market range.

Government initiatives like the Welcome Stamp programme have brought a new wave of remote workers to the island, many of whom eventually decide to purchase property. The rental market remains strong, supported by a robust tourism sector that makes vacation rentals a viable income stream for property owners.

Barbados also offers something harder to quantify: a quality of life that keeps people coming back. Direct flights from the UK, US, and Canada make it accessible. The infrastructure is well-developed. And there’s a warmth to island life that makes the idea of owning a home here genuinely appealing.

Getting Started

If you’re considering a property purchase in Barbados, the best first step is simply to start a conversation with your preferred agent. Every buyer’s situation is different—your timeline, your budget, whether you’re looking for a personal retreat or an investment property, how much involvement you want in managing a rental. Understanding these details helps me point you toward the right properties and connect you with the right professionals.

Buying property internationally can feel like a significant undertaking, but with the right guidance, it doesn’t have to be complicated. Barbados has been welcoming foreign buyers for generations, and the process is well-established and straightforward.

Ready to explore your options? I’d love to hear what you’re looking for.

Thinking about buying in Barbados?

Whether you are at the early research stage or ready to view properties, I help international buyers navigate the process with clarity and confidence.

You are welcome to get in touch to discuss your plans, timeline, or questions. No pressure, just guidance.