Fact File

Fact File Supplied By:

Chancery Chambers.


Most Easterly of the Caribbean Islands.

Time Zone

Greenwich Mean Time -4 ("GMT").


Est. 287,077.




Grantley Adams International Airport ("GAIA").




BBD$ pegged to the US$ at two for one.

Political System

Constitutional Monarch, Parliamentary System.

International Dialing Code


Legal System


Centre's expertise

Financial Services and Tourism.

Personal Income Tax

12.5%-33.5% with reduction to 28.5% effective January 1st 2020.

Corporate Income Tax


Exchange Restrictions

Not for Companies holding a Foreign Currency Permit.


3 November 2011.


3 November 2011.

Faroe Islands

3 November 2011.

South Africa

17 September 2013.


25 November 2014.

Permitted Currencies


Minimum authorised capital

Not prescribed.

Minimum share issue


Shelf companies


Timescale for new entities

Average five working days, but 24 hours possible for some urgent requests.

Incorporation fees

Average US$3,000.00.

Annual fees

These vary depending on the type of corporate entity.

Minimum directors


Residency requirements

None for individuals (but see "Corporate Directors").

Corporate directors

Yes. However, non-resident corporate directors not allowed.

Meetings/ Frequency

Adequate amount of meetings to suit the business purpose of the Company and the amount of decision-making required at Board level.


No disclosure of shareholders to the Registrar of Companies. However Companies applying for a Foreign Currency Permit, Insurance and Banking entities must disclose shareholders in their licence/permit application forms to the relevant regulator. Such disclosure is treated as confidential information.

Bearer Shares

Not allowed.

Minimum Number


Public Share Registry

No. Subject to the comments above with respect to disclosure, a Company's register of shareholders is not filed or recorded with any Registry or any publicly accessible body.

Meetings/ Frequency

At least one per year.

Annual Return

Required for certain entities.

Audit Requirements

Public Companies or Companies with gross revenue or assets exceeding US$2,000,000.00. Non-Profit Companies are required to conduct an audit regardless of the size of the assets or revenue.

Registered office


Domicile issues

An overseas incorporated company may: (i) apply to the Registrar of Companies by articles of continuance to move and continue its business in Barbados as if the Company had been incorporated under Barbados Law (if the laws of the foreign jurisdiction allow); or (ii) apply for registration in Barbados as an external company. A company incorporated in Barbados may apply to an appropriate foreign public body to continue its business in a foreign jurisdiction and must give notice of intention.

Company naming restrictions

Yes. As defined by the Companies Act.