Barbados
NEWS
FACT FILE
Location Most easterly of the Caribbean islands.
Time Zone Greenwich Mean Time -4.
Population 287,733
Capital Bridgetown.
Airport Grantley Adams International Airport (GAIA).
Language English.
Currency BDS$ pegged to the US$ at two to one.
Dialing Code +246.
Centre's Expertise International Business, Financial Services - banking, trust, insurance, tourism.
Political System Constitutional Monarch, Parliamentary System
Legal System English.
Personal Income Tax 17.5 - 35%
Corporate Income Tax 25% Regular Company. International Business and other financial services entities potential rates are as low as 0.25%
Exchange Restrictions Not for tax entities operating in the offshore sector.
Tax Treaties For full details, please go to www.ifcreview.com/TIEA
Permitted Currencies All.
Minimum Authorised Capital Not prescribed.
Minimum Share Issues One.
Shelf Companies No.
Incorporation Time Scale Average five working days, but 24 hours possible for some urgent requests.
Incorporation Fees US$2,150.
Annual Fees These vary depending on the type of corporate entity.
Minimum Number One.
Residency Requirements None for individuals.
Corporate Directors Yes, however non-resident corporate directors not allowed.
Meetings/Frequency At least one per year.
Disclosure No disclosure of shareholders to the Registrar of Companies for domestic companies. However, IBC and SRL insurance and banking entities must disclose shareholders in their licence application forms to the Registrar.
Bearer Shares Not allowed.
Minimum Number One.
Public Share Registry No, A Company's register of shareholders is not available to the public at large.
Meetings Frequency At least one per year.
Annual Return Required for certain entities.
Audit Requirements Public companies or companies wtih gross revenue or assets exceed US$2,000,000
Registered Office Yes.
Domicile Issues An overseas incorporated company may: (i) apply to the Registrar of Companies with articles of continuance to move its business to Barbados; or (ii) apply for registration in Barbados as external company. A company migrating from Barbados must file articles of discontinuance with the Registrar of Companies
Company Naming Restrictions As defined by Companies Act.
ARTICLES
What May the Trump Presidency Mean for the Future of International Financial Centres?
  Simplification of the US tax code, FATCA, De-regulation, Immigration: Alicia Nicholls discusses the various implications of US Tax Reform for IFCs. (01/12/2017)
Barbados: Rediscovery of Purpose
  "Barbados will need to make giant steps in its economic and financial plans and policies to respect and maintain its legacy of confidence, stability and a strong regulatory ethos," writes Sir Trevor Carmichael, Q.C. (01/11/2017)
The Time For Change is Now
  Sometimes a lack of choice is a good thing. Small in size and bereft of natural resources, other than white beaches and turquoise sea, the only option for Barbados when it became independent 50 years ago was to develop its people and institutions. (29/08/2017)
Barbados: The International Securities Market - From Missing Pillar to Established Post in Barbados’ International Financial Services Landscape
  After a lengthy and arduous process that involved the feedback and recommendations of several key stakeholders, Barbados Stock Exchange (BSE) has launched its international securities market (ISM). (29/08/2017)
Barbados: Trust and Resilience
  Barbados, as a jurisdiction, has transformed itself into an international mobile capital. emphasis must also be placed on the ongoing cumulative benefits which arise from jurisdictional trust and transparency. (29/08/2017)
The Barbados Foundation: Building a Firm Cornerstone for the LatAm Market
  Barbados is jurisdiction which offers a unique value proposition and is prized by wealth planners in certain quarters for its extensive double taxation treaty network. (29/08/2017)
The Time For Change is Now
  Sometimes a lack of choice is a good thing. Small in size and bereft of natural resources, other than white beaches and turquoise sea, the only option for Barbados (03/07/2017)
  read all
FURTHER BACKGROUND INFORMATION
  Barbados Tax Treaties
  Barbados currently has 42 tax agreements in place comprising of 38 Double Tax Treaties and 4 Tax Information Exchange Agreements. - read more...
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