Bajan bounty - Telegraph This translates to an effective tax rate of 2.45 per cent for an individual whose income is solely from foreign sources. Qualified applicants under 60 years of age who wish to run their worldwide business from Barbados also won't require a work permit, which makes for a less bureaucratic process. Spouses of applicants qualify for a residency visa, and dependent minors or children in full-time education are granted the same residency terms as their parents. Eduardo added: "Applicants are required to provide evidence every three years that their child is enrolled in a school in Barbados, or is being home schooled with the approval of the ministry responsible for education." Historic links with Britain - which ruled Barbados for 350 years - meant that most investors used to come from there. However, the island is now seeing increasing numbers of European, Canadian and Russian buyers putting down roots. Anthony Patterson of investment consultancy CB Richard Ellis said: "Prices on the island are at their lowest since the start of the last decade and buyers are very savvy. They compare like-for-like square footage the world over and have a keen eye for a deal. Cash buyers in particular are trading up. Luxury residential estate Royal Westmoreland has seen evidence of this, with a 40 per cent increase in enquiries in the last six months from foreigners looking for properties in the US$1-4 million price bracket. Purchasers like the fact that Barbados offers a tax-efficient environment and is politically stable. They believe the new residency rules will be particularly attractive for those buyers with a primary residence in a high-tax region. "Turn-key properties such as Royal Westmorland appeal for both lifestyle and ROI [return on investment]," added Patterson. Land shortages also mean there's little chance of market saturation, with historically buoyant resale values. Barbados buys: St Peter's Bay (www.stpetersbaybarbados.com) Nestled on four acres of Barbados" platinum coast and boasting 57 private residences, St Peter's Bay ticks all the essential "island living" boxes - beachfront location, blue waters and leisure amenities that include membership of the exclusive Port St Charles Yacht Club. Prices start from $2.3 million for a three-bedroom residence. Apes Hill (www.apeshill.com) Located on a former 17th-century sugar plantation, this 470-acre west coast residential community will have just 250 homes, many offering spectacular views of the estate's par 72, 18-hole championship golf course. Three-bedroom Polo Club villas start from $750,000. The Crane (www.thecrane.com) The only resort set on Crane Beach on the scenic south-east coast parish of St Philip, The Crane offers outright and fractional ownership of one-, two- or three-bedroom residences in its private residence development. On-site amenities include a spa, retail village, tennis and fitness centre. Fractional shares start from $173,000 with outright ownership of a fully-furnished villa from $450,000.