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
Q&A with David Lidington, Minister of the Cabinet Office
  The UK’s secure relationship with the British Overseas Territories has been thrown into question following the UK parliament's decision to implement public registers of beneficial ownership. (01/10/2018)
Barbados' Chance to Lead in DLT Innovation is Now
  The rate at which the various island states are embracing FinTech varies. However, many small jurisdictions and their governments are sitting on what could be classified as a hotbed of opportunity. (01/09/2018)
Offshore: The Leaders, the Trends and the Opportunities
  Dan Wise looks at why certain IFCs prosper. He discusses regulation and investment opportunities, and opines on the implementation of public registers of beneficial ownership in the British Overseas Territories. (01/09/2018)
The Big Debate: How Credible are Tax Haven Blacklists?
  Fran Hendy, International Lawyer and Treaty Negotiator at Invest Barbados presents her stance. (31/07/2018)
The International Securities Market: Milestones to Measure Success
  The International Securities Market (ISM) is a flexible, global platform for international companies and worldwide investors. It operates as a separate market of the Barbados Stock Exchange (BSE) and offers international securities trading for qualif (30/06/2018)
Barbados: Committed to Maintaining its Standing as a Jurisdiction of Choice
  Barbados' H Wayne Lovell discusses what is a very difficult balancing act for IFCs -- preserving an attractive business environment while complying with BEPS and EU initiatives. (30/06/2018)
A Caribbean Future
  "What could happen to our beloved Caribbean if we blithely saunter down the low road and let others deliver our future?," asks Avinash Persaud, Chairman of Elara Capital in London & Barbados. (01/06/2018)
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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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