July, 2021 marks one year since Barbados started accepting applications for its 12-month Barbados Welcome Stamp. This brilliant initiative made international headlines around the world and put Barbados on the map in a time when airplanes were grounded globally. Flash forward a year and let’s take a look at the effect of the welcome stamp in Barbados and where its heading.

The Stats

According to Barbados Tourism Marketing Inc, over 2000 people applied for the Welcome Stamp within six month of its launch. 1,622 of the applications were approved as of January 31at 2021 with 67% of applicants being between 26-45 years. British are known to love vacationing in Barbados, with many Brits visiting year after year. Of the 433 Brits that applied as of January 31st, 362 were approved. The Welcome Stamp provided the opportunity for repeat visitors to call Barbados home for a year, but it also attracted many new eyes to Barbados, in fact, many of the applicants had never visited Barbados before.

We await further updates on total application numbers and the official reports of the Welcome Stamps effect on the GDP of the island. Application numbers for the 12 month welcome stamp continue to increase with digital nomads learning more about Barbados as the initiative grows, this will in turn have a positive effect on the GDP of Barbados as we continue to slowly reopen our doors to tourism and the world.

Realtors Limited has seen some positive numbers from the programme with a variety of properties being rented for Long Term since the start and many clients extending their stays beyond the 12 months. Another positive spin for both the Barbados real estate market and the economy has been that many of these ‘welcome stampers’ as they are known as, have now changed their vision and decided to purchase homes of their own. These purchases have created an increased inflow of foreign currency into the island as well as long term commitment to Barbados as a new homeowner, they will also be then eligible for the residency by investment permit which allows them to live in Barbados for 9 months of the year and apply for additional work permits for their family.  

Welcoming a New Clientele 

Barbados has welcomed everyone from young families to solo digital nomads. The influx of residents provided the Barbados real estate market with the opportunity to focus on mid-to-long term rentals in a market that was traditionally focused on seasonal short term rentals.

At Realtors Limited we have helped over 85 clients with the welcome stamp, allowing them to call Barbados home. Clients using the welcome stamp have also broadened the scope of living options from the traditional ‘West Coast Beachfront’ only request with persons opting to rent properties ranging from one and two bedroom apartment, three to four bedroom condominiums and homes, and in some case five+ bedroom luxury homes both inland and beachfront. This has also rolled over to sales which has created purchases outside of the traditional West and South Coast Tourism belt.

Persons staying in Barbados on the 12 month welcome stamp have a chance to explore the island and learn about the East Coast and local activities in the center of the island which then encourages them to buy in parishes such as St. Joseph, St. George and St. Philip which were traditionally purchased only by local clientele. 

Barbados Welcome Stamp Accommodation

Interested in relocating to Barbados? Click here to complete the Welcome Stamp Application. Once your application is approved our team at Realtors Limited will be happy to help your find your Barbados home. 

Dolphin Court #3 is a lovely 3 bedroom, 2.5 bathroom rental perfect for a young family. The large fully enclosed backyard is great for kids and pets. This neighbourhood home is a few minute’s walk from the beach, cafes and restaurants. Dolphin Court 3 is available for $2,750 USD / month.

149 Salters Road is ideally located on the Northern end of the Sandy Lane Estate on a quiet road just steps away from all the amenities of Holetown and multiple beaches that line the West Coast of Barbados. This 4 bedroom, 3 bath villa enjoys a large private pool and the Sandy Lane Property Owner Beach Access. 149 Salters Road, Sandy Lane is available semi furnished for $4,750 USD / month or fully furnished for $5,500 USD / month.

Palm Beach 510 is a lovely 2 bedroom, 2.5 bathroom luxury condominium right on the beach! The Condos Palm Beach features many fabulous amenities including private onsite pools and a gym. The condos are located minutes from the capital city Bridgetown on the lively south coast. This fabulous, spacious condo is available for $4,250 USD / month.

White Sands Beach Villas is a fabulous beachfront property with 22 units, located in St. Lawrence Gap on the South coast of Barbados. White Sands is a perfect property for persons looking to enjoy beachfront luxury steps away from Barbados’ best dining, shopping, and nightlife. Great for the solo traveler, you will meet many other digital nomads in this happening and central area, or at the communal White Sands pool. The one bedroom beachfront condo is available for $3,250 USD / month. Or choose a two bedroom condo for $3,700 USD / month and use the second bedroom as your office.

The Future of the Welcome Stamp

As Barbados reopens its doors, we will continue to embrace the welcome stamp. It has created a new revenue source for Barbados and has allowed people to truly immerse themselves in the Barbadian way of live which we know and love. The welcome stamp will be here to stay for many years to come and the entire team at Realtors Limited welcomes it, as we look forward to welcoming you to our beautiful island.