Barbados Now Welcoming Foreigners for a Year – Here’s the Catch
I don’t know what happened to the world, but it happened overnight and now we are all suffering.
Due to the coronavirus pandemic, people are now out of work, working an, “essential,” job and hoping they don’t get infected.
Or working as, “nonessential workers,” working remotely.
Over 1 million people have applied for unemployment benefits every week since March.
In the second week of August, only 963,000 Americans applied for unemployment, a sign of, “progress,” by some analysts.
Over 56 million Americans have applied for unemployment benefits since March 2020.
CARES Act provisions designed to offer eviction protection will lapse by August 25th. Mass evictions of tens of millions of Americans are imminent.
Unemployment benefits are ending for millions now. Extensions, which could offer a few hundred dollars, is being legislatively proposed but is unlikely to happen.
The only silver lining here is that if you are a, “nonessential worker,” then you can work anywhere you want.
So, how about Barbados?
Barbados Welcome Stamp Program
Barbados recently initiated a program called Barbados Welcome Stamp which welcomes foreigners into the country for up to a year. You can find more information here.
The catch is that you must be financially self-sufficient and able to work remotely for the entirety of your stay in Barbados.
You must have viable health insurance for yourself and everyone in your family.
To qualify you must pay a $2,000 for a one-year individual visa or $3,00 for an entire family.
You must already be employed as a telecommuting worker and make at least $50,000 annually to qualify. The average American salary was $48,700 before the pandemic crisis.
You would have to consent to a background check. Also, you would have to be tested for COVID-19 before and after arrival.
After applying, you may learn within a week whether or not you have been approved.
As of this writing, Barbados has less than 150 coronavirus infections and less than 10 coronavirus deaths.
So, why is Barbados initiating such a program? It is risky. After all, the United States has logged over 5 million coronavirus infections and almost 170,000 deaths.
Barbados’ economy is dependent on international tourism. About 12% of Barbados’ GDP is directly generated through tourism. Over 40% of economic activity that occurs in the island nation is generated via tourism.
It is also important to keep in mind that over 100 countries have banned or restricted entry through their borders to Americans.
Barbados stands out as a welcoming alternative to Westerners with this telecommuting work visa initiative.
Never Lose Hope – Keep Looking for Opportunities
I know this is a longshot opportunity for many people, especially if you are struggling and have a family.
This opportunity is also only viable if you are already a telecommuting worker with savings.
If you are inclined to telecommuting, you probably won’t find the job you want, only the one you need.
The point is, keep trying.
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Allen Francis is a full-time writer, prolific comic book investor and author of The Casual’s Guide: Why You Should Get Into Comic Book Investing. Allen holds a BA degree from Marymount Manhattan College. Before becoming a writer Allen was an academic advisor, librarian, and college adjunct for many years. Allen is an advocate of best personal financial practices including saving and investing in your own small business.