Can Canadians buy property in Barbados?

Yes. Barbados has no restrictions on foreign ownership of property.

Do I report a Barbados vacation home on Form T1135?

Not if it is used primarily (more than 50%) for personal use. A property rented out for most of the year is generally reportable if your total specified foreign property costs more than C$100,000.

Is there a tax treaty between Canada and Barbados?

Yes. The Canada–Barbados tax agreement has been in force since 22 December 1980.

Buying Property in Barbados as a Canadian: 2026 Guide

by Mike Ashton | Nov 12, 2026 | Blog

Short answer

Yes. Canadians can buy property in Barbados with no foreign ownership restrictions. Barbados prices are effectively in US dollars, so the main extra consideration for a Canadian buyer is the Canadian dollar exchange rate. On the Canadian side, a home you use mainly yourself is generally not reported on Form T1135, but a rental property usually is.

Key points

No restrictions on foreign ownership.
The Barbados dollar is fixed to the US dollar, not the Canadian dollar. Plan for CAD/USD movements between offer and completion.
Personal-use vacation property is excluded from Form T1135. A property rented out for most of the year is generally specified foreign property and reportable if your total cost is over C$100,000.
Canada and Barbados have had a tax agreement in force since 22 December 1980.
Toronto has year-round direct flights on Air Canada and WestJet, and Montreal and Halifax have direct services.
You pay no buyer’s agent fee when you use us. The seller pays.

Can a Canadian buy property in Barbados?

Yes. There are no restrictions on foreign ownership, and foreign owners pay the same property taxes as locals. As a non-resident you fund the purchase from abroad, and the Central Bank of Barbados registers the funds so you can repatriate them when you sell.

What about the exchange rate?

Barbados fixed its dollar at BBD 2 to US$1 in July 1975. Luxury homes are normally priced in US dollars. For a Canadian buyer, a move in the Canadian dollar between agreeing a price and completing can change your cost noticeably. Many buyers fix the rate for the deposit and completion with their bank or a currency provider.

What do I report to the CRA?

Form T1135 applies when your specified foreign property costs more than C$100,000 in total. The CRA says personal-use property, including a vacation home used mainly as your own residence, is not specified foreign property. It treats more than 50% personal use as primarily personal. A property rented out for most of the year generally has to be reported. Rental income is taxable in Barbados, and the Canada–Barbados tax agreement deals with double taxation. Take advice from a Canadian cross-border tax adviser.

What will it cost?

The buyer pays a 10% deposit on signing plus their own attorney, commonly 1% to 2.5% plus 17.5% VAT. The seller normally pays property transfer tax, stamp duty and the agent’s commission. See our full cost example.

Financing and residency

Non-resident mortgages are available on conservative terms. RBC in Barbados, for example, lends non-residents up to 65% on owner-occupied homes. For longer stays, the Welcome Stamp allows up to 12 months of remote work. The Special Entry and Reside Permit has categories for investors and property owners. Confirm current terms with your attorney.

Getting there

Toronto has year-round direct flights on Air Canada and WestJet. Montreal has Air Canada service from October 2026 and seasonal Air Transat flights, and Halifax has a seasonal Air Canada flight. Schedules change, so check with the airlines.

How we help Canadian buyers

We shortlist and view homes for you, report back on video, negotiate, and work with your attorney through to completion. Most Canadian clients only fly down for the final viewings. See what to expect.