Purchasing a home at the Crane has given me a new lease on life and I am eternally grateful for that, which is why I am willing to share my first-hand experiences with anybody considering doing the same thing. - Bruce Jewer
My name is Bruce Jewer and the first time I visited the Crane Resort, in January 2018, the last thing on my mind was investing in Barbados. But, as a Canadian resident doing business in the United States and soon approaching retirement, I was faced with the tricky dilemma of deciding where I should retire, both from a financial perspective and where I’d enjoy living.
That’s why my antennae went up when I discovered that the Crane Private Residences can be bought outright to live in and, in certain cases, generate income for the owner through the Crane’s rental programme. And what made renting out possible for me is that the Crane’s new 2-bedroom residence is designed as two adjoining units, a one bedroom and a junior suite that can be locked off from each other and used as individual independent units. That means my home is available to me on a full-time basis, but I am free to rent out one of the units whenever I can.
After calculating a low-ball ROI, which looked very attractive, I wanted to find out more. And I was instantly ‘sold’ as soon as I learned that, once I turned 60, I could qualify for a Special Entry and Reside Permit (SERP), which would enable me to reside in Barbados for life, provided I committed to a minimum financial investment, including the purchase price of the residence..
Throughout every stage of purchasing at the Crane, applying for my SERP and establishing my legal and financial base in Barbados, I have been extremely happy with the services provided by local professionals. I am now in a more favourable tax position and feel more secure than ever. With the rental income covering my daily expenses, I live more comfortably. And, with daily scheduled flights, it is easy to travel to and from Canada or the USA for business or pleasure. It’s a very flexible lifestyle, a great way to enjoy the best of both worlds.
Of all the many countries I have visited or lived in, I’ve never found anywhere more appealing than Barbados. It doesn’t matter how old, what nationality, religion or colour you are, if you are a good person, you will be made welcome at all levels of society in this island.