Escape to the Caribbean (WFH)

Barbados Work From Home Incentive

You may have seen this headline. What did you think of it?

Sounds idyllic, doesn’t it? Work from the beach on your laptop for a year, ride out the pandemic in style and make all your friends, family, coworkers and everyone else green with envy.

So, let’s take a look.

Anyone can see why Barbados is offering this option — their Economy, like many it depends on tourism. At least 10% of the population is employed in this sector (according to Wikipedia). Unlike many other countries, Barbados doesn’t have other industries they can pivot to.

So why not import some new quasi-residents?

Personally, I really like the idea and I think it’s a very creative solution to a unique problem. So from the Barbados point of view — well done!

So what is it?

It is a 12-month program from the 24th of July that allows you to reside and work in Barbados — targeting remote workers bringing in new money.

However, you better be making over $50,000 per year; otherwise, you don’t qualify. $2,000 of that will go towards the cost of the visa, per person (family bundle available).

Don’t forget to add on insurance to your costs — it’s not provided.

Otherwise, if you’re a student who is faced with online university classes this fall — there is a visa option for you as well!

Only a $300 student visa, you have to admire those student discounts.

Let’s face it — if you’re going to Barbados, it’s because you’re chasing the sun, sea, and sand lifestyle. The average weather ranges from 23–31 C (71–82 F), lots of sunny days and not too much rain.

Almost the opposite of the UK (except for this past week, phew!).

Plenty of good schools for the youngsters if you’re taking your family, it’s ranked amongst the top 10 school systems in the world and a literacy rate of 99.7% (99% in the UK).

What about the virus?

They have only had 133 cases and 7 deaths (at time of writing), quite a difference from your current country of residence (for most of us) — and of course coming into the island as part of this program you’ll be subject to screenings and initial quarantines to keep that number low.

If they can manage to keep the rates low, while bringing in all these new people — I would be surprised if a few of them didn’t fall in love with the country and try to make it a permanent move.

Even looking at things like Hurricanes — the major concern of the Caribbean and Eastern US, they are far enough down that they are often missed by them, or just get a taste. That’s a big plus in my books!

Ok, taking the rose coloured glasses off for a second, what’s the downside here?

Obviously I’ll want a beachside villa to ride out this corona-coaster, who’s with me?

Probably everyone so there won’t be enough beachside property to go around.

You could end up living is less than idyllic accommodation for the year. However, it could be cheaper than the UK — on average 32.5% cheaper(meaning it might all balance out).

Obviously, to keep levels of COVID down, all of the popular annual festivals have been cancelled, so you won’t get the same experience as visiting during other years.

You won’t have your comforts of home, so look at what the furnished options are, otherwise you might have to repurchase some of your appliances, etc.

The cost of living is 16.31% higher than in the UK. A litre of regular milk typically costs £2.49, where prices on Ocado show that it would cost 85p — also fewer choices of branded items.

You will likely need a car to get around the island so you’ll need to figure out that puzzle of renting, leasing, or secondhand purchase.

Don’t forget the time zone difference — but even that can be nice as you’ll only have to deal with your colleagues for a few hours less than usual… more time for the beach!

All in all — not a bad option, if you can swing it.