Business in Barbados

Barbados is a modern, independent, sunny island located in the Eastern Caribbean which has proved itself to be an attractive and mature offshore financial centre. With its stable political and economic environment, and its highly educated workforce, many investors have made Barbados their offshore financial centre of choice.

As a low tax jurisdiction, Barbados boasts a low level of corporate taxation, exemptions for various business entities and a wide range of incentives to attract foreign investment. Some of the legal entities include: International Business Companies, Exempt Insurances, Domestic and International Trusts and Foundations. To further encourage business, the government of Barbados has over the years concluded a number of double taxation treaties with countries such as: The People’s Republic of China, Canada, The United States of America, the United Kingdom, Finland, Malta, Sweden, Austria, Mexico, Venezuela, Panama, CariCom and Cuba.

The financial services sector in Barbados is buttressed by a robust regulatory system which ensures the encouragement of legitimate business and the maintenance of its reputation in the international business sector. As a part of this regulatory system, Barbados has enacted legislation aimed at complying with the international best practice in the fight against money laundering.

Also important in an offshore financial centre is the ability to be able to quickly access the services offered. To this end, Barbados has enacted legislation to provide more efficient business processes, including the ability to now conduct an increasing number of transactions online. Barbados also boasts a wide array of support services such as direct flights to and from most major cities, well trained and educated human capital in diverse sectors and modern infrastructure, all of which are necessary to sustain a vibrant offshore financial centre.

To learn more about doing business in Barbados, please see the following links:

Rockley Law Group