Permit of Economic Residence

Montserrat's Permit of Economic Residence is an investment-based residence program that allows foreign nationals to live in this British Overseas Territory in the Caribbean by demonstrating business experience and means, and by making a qualifying financial contribution of at least EC$400,000 (approximately US$148,000) into the local economy. The permit is granted by the Governor in Council under Section 19 of the Immigration Act (Chapter 13.01) — inserted by Act 18 of 1970 and amended by Acts 24 of 1982, 6 of 1984, and 13 of 1997 — and is administered through the Office of the Deputy Governor. It targets foreign investors who want Caribbean residence through bank deposits, real estate, or government securities, with no minimum physical presence requirement.

The official Guidance Notes set out a two-part qualifying structure:

• Commercial / net-worth requirement — demonstrated business experience, a legally obtained net worth of more than EC$400,000, and a signed Statement of Commercial Intent describing the nature and size of the investment
• Financial contribution — at least EC$400,000 (~US$148,000) placed through one of three approved routes

Applicants must also have a clean criminal record, hold a valid passport, and pass a medical examination. No educational or professional qualifications are required.

Three qualifying financial-contribution routes are available, each with the same EC$400,000 minimum threshold:

• Bank deposit — Term deposit of at least EC$400,000 at a commercial bank operating in Montserrat. This is the fastest route, with approximately 3-month processing time.
• Real estate — Purchase of property in Montserrat valued at minimum EC$400,000. Non-nationals must also obtain an Alien Land Holding Licence under the Landholding Control Act, costing EC$2,500 or 5% of the purchase price (whichever is greater), which adds 4-8 weeks to processing.
• Government securities — Investment of at least EC$400,000 in Montserrat government bonds or securities.

• Valid passport plus two additional forms of identification
• Two passport-sized photographs
• Police/criminal record certificates covering an 8-year period
• Medical examination certificate
• Signed Statement of Commercial Intent
• Proof of the financial contribution (bank deposit confirmation, property deed, or government securities certificate)
• Income and net-worth statements

The permit is renewable and is maintained for as long as the qualifying net worth and financial contribution are held. There is no minimum physical presence requirement to keep the permit active — holders can maintain residence status solely by keeping the investment in place, so the permit functions as a de facto permanent residence.

The permit can be endorsed to include a spouse (not separated by court decree or deed of separation), children, stepchildren, and adopted children under 18. No separate investment or net worth is required for dependants.

Montserrat levies personal income tax at progressive rates from 5% to 40%, with a tax-free threshold of EC$15,000 per year. Non-domiciled residents benefit from remittance-basis taxation, meaning only income remitted to Montserrat is taxed — not worldwide income. There is no capital gains tax on most assets, no inheritance tax, and no wealth tax. Corporate income tax is 20%. Residents absent for 183 or more days in any 12-month period without a permanent place of abode may qualify as non-resident for tax purposes.

Applications are submitted to the Governor in Council through the Financial Secretary at the Office of the Deputy Governor in Brades, Montserrat. There is no online application portal — applications must be submitted directly to the government.

• Application fee: EC$1,000
• Processing fee: EC$10,000 for CARICOM nationals; EC$20,000 for non-CARICOM nationals
• Processing time: Approximately 3 months for the bank deposit route; 6-8 months for real estate and government securities routes

Contact: [email protected]

The Permit of Economic Residence grants residence rights. Holders wishing to work in Montserrat may need to obtain a separate work permit from the Ministry of Communications, Works, Energy and Labour.

Long-term holders may apply for a Permit of Permanent Residence under Section 19 of the Immigration Act, governed by the Immigration (Permanent Residence Permits) Regulations (SRO 33/2019). These regulations require 12 consecutive years of ordinary residence in Montserrat plus proof of consistent and adequate income to maintain the applicant and dependants. Permanent residents may in time apply for naturalisation as a British Overseas Territories Citizen (BOTC), and BOTC holders may then apply for registration as a British Citizen under the British Overseas Territories Act 2002. Dual citizenship is permitted.