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To become a tax resident of Barbados, aspiring individuals must follow a structured process starting with the establishment of a company. The company should not be focused on cryptocurrency; instead, an individual can establish a marketing consultancy, IT firm, or any other legitimate business.
Once the company is incorporated, individuals can secure a work permit as the Director of their own company. This key step allows for residency based on employment within the Barbadian company. Importantly, much of this process can be conducted remotely, although physical presence in Barbados is needed when obtaining the residency permit.