peter67

My wife and I are thinking about retiring to the Caribbean within the next 4 to 5 years. From reading some of the posts it is not as simple as having enough income to support yourself and dependant on elections what applies today may not apply next year.

Is there a country Barbados , Bahamas etc which my wife's NHS pension will still get paid to (i.e. keep a UK bank account) which does have a certain set of criteria that I can check against to see that we would be meet.

Really I'm after advice now and not find in a few years time theres no way we would get in.

Thanks

beachseeker

It is my understanding that your pensions would continue to be paid to your current pension bank account. Caribbean countries vary on their requirements for expats to gain residency, and proof of income is one of them. You will need to do some homework on this for each country that interests you. Taxes are payable in some countries and certain criteria apply. Here is a link with more information on Barbados. I hope this helps a little... Barbados - Taxation | ExpatFocus.com

Gordon Barlow

It's not quite clear to me what you want to know. If you tell us what your total combined income will be in your retirement, and what your combined assets will be available for investment in your new home, it would be clearer.

Wharfer

Would not worry about keeping a UK bank account or not. If moving around the world for work or retirement the first thing to establish, are you able to obtain a right to residency? If you can provide more details about income and assets, there are plenty of persons on this platform who can provide you with up to date requirements of the various countries in the Caribbean in order to obtain rights for residency.

peter67

The total assets are £850k so looking to invest £600k in property, so with this would I be able to gain a visa to stay in the country without renewing it.

peter67

Thanks, assets of £850K so looking to invest in 70% in property and gain residence so advice on which country's are in and out based on this amount.

ScousePete

Search for "Citizenship by Investment"

Look at St. Lucia, Dominica, Antigua & Barbuda, St. Kitts & Nevis, Grenada

Gordon Barlow

Peter. It's like pulling teeth, getting information out of you. If you are genuine - which is in some doubt, I have to say - then you will need to be more forthcoming. You're anonymous here, after all: what harm can it do to loosen up a little?

peter67

Hey ???, you asked me for information I gave it.

Im trying to find out how easy or difficult it is to retire to another country in the Caribbean and gain residence there and is there a lower limit on that country e.g.) Barbados min age 65, income £2million, Bahamas don't accept UK residence at all and so on.

beachseeker

I found a link from 2014 with a bit more information for Barbados. Not sure if this is still current but it appears a person would need a net worth of US$5 million to obtain residence via their Special Entry Permit (sort of a golden handshake...). ExpatBriefing.com | Barbados Focus
I can't find any information on what pension income levels would be required to retire in Barbados through the "Immigrant Status" offering or through the "Permanent Resident" program under Section 5 of the immigration act. Here is a link to their various services: http://www.immigration.gov.bb/pages/SERVICES.aspx

Gordon Barlow

Cayman Islands Information - Relocating, Moving, Living and Working in the Cayman Islands
Always the best place to go to for information on Cayman.

uk_grenada

Citizenship by investment means investment in business, your own house/villa is not considered normally as a commercial investment. Grenada doesnt specify a sum, they look at applications on merit, but i understand less than half a million us commercial investment isnt likely to gain citizenship.

In grenada anyone can buy property but theres a 10% foreign ownership tax as a one off. A visitor gets a 3 month visa that can be renewed on the island for a fee, and after 3-5 years of BLAMELESS living you might be granted residency - the right to live there for life - but not work - you cant become a citizen unless you really invest or a few other special cases like marrying a local.

uk_grenada

Keeping a uk bank account is useful, nb the cheapest way to move money is a zero loading credit card from someone like halifax, but if you live abroad many uk banks will summarily close your uk account. Exceptions - hsbc have international accounts, you can have lots of near offshore uk accounts, and first direct in the uk appear very accomodating...

uk_grenada

Incidentally theres a lot more to actually retiring, an american wrote 2 books 20ish years ago that are still useful - called living in the caribbean and retiring in the caribbean. You have to live somewhere for a year? Before you commit to any form of permanency imho.

ScousePete

Your information is incorrect. Grenada has a Citizenship by Investment program whereby you can purchase (approved) real estate and gain your citizenship.

From the official government website http://www.cbi.gov.gd/

Fees listed here - http://www.cbi.gov.gd/grenada-citizenship/application-fees/