Barbados

Barbados is an island country located in the Lesser Antilles near the Caribbean Sea in the North Atlantic Ocean. With only an estimated population of 290,000 people, Barbados is a former colony of the United Kingdom (UK) and gained independence in 1966. Currently, it is a member of the British Commonwealth.

Barbados is the most developed and richest country in the Eastern Caribbean region with its highest per capita income. Its economic success derives from its strong tourism and financial services industry that attracts investors from around the world.

As a result of the changes in the legislation of the offshore sector within the framework of the OECD requirements to comply with BEPS initiatives, we will no longer talk about International Business Company in Barbados, only domestic or regular companies are offered.

 

Key features.

 

  • A director is required, who can be a natural person or other legal entity of any nationality or jurisdiction.
  • A shareholder is required, who can be a natural person or other legal entity of any nationality or jurisdiction;
  • Bearer shares are not allowed;
  • Registered agent is required;
  • A company secretary is required who must be licensed and can be an individual or a company;
  • A company in Barbados taxes between 1% and 5.5% (previously 25%);
  • There is no minimum requirement for share capital;
  • Accounting is required (anywhere in the world);
  • Subject to proof of Economic Substance;
  • Public knowledge details: name of the registered agent and registered address, name and address of the director, name and address of the shareholder (s);
  • Companies may request a foreign currency permit, provided they declare that 100% of their income is in foreign currency
  • They can provide services locally and internationally
  • Can open accounts in Barbados in multi-currency
  • No tax payable on dividends received by a resident company of Barbados from a non-resident company where:
    • The resident company of Barbados owns> 10% of the capital of the non-resident company; and
    • The investment is not maintained as a portfolio investment.

 

  • Dividends paid from income of foreign origin to a non-resident shareholder are exempt from withholding taxes.
  • There is no capital gains tax.
  • There is no property transfer tax or stamp duty on the sale of shares to a person residing outside of Barbados, whether the transferor is a resident of Barbados, where the assets of the company in question consist of foreign assets and their assets. Revenue is obtained only from sources outside of Barbados.
  • Access to most of the network of treaties to avoid double taxation of Barbados.
  • There are no capitalization rules.

 

Visión internacional actual de Barbados por parte de organizaciones internacionales.

 

International Organization White list Grey list Black list
OECD    
FATF √ 
EU  

 

Basic pricing.

 

Company registration US$4,000.00

 

It includes:

 

  • First year maintenance fee (registered address, corporate secretary);
  • Issuance of Statutes;
  • Share certificates;
  • Seal;
  • Organizational resolutions;
  • Tax identification number;
  • Registry of Directors and Shareholders;
  • Courier

 

Renewal US$3,250.00

 

It includes:

 

  • Renewal (corporate secretary and registered address);
  • Preparation of Financial Statements and Tax Return;
  • Foreign Currency Permit Renewal Rate;
  • Verification that the company complies with local legislation.

 

OPTIONAL SERVICES IN USD
Apostille, per document US$456.00
Set of apostilled documents  US$495.00
Notarization of documents (per doc) US$300.00
Amendments From US$1,200.00
General power of attorney (if CLD  provides the director)  US$300.00
Nominee director (per year) US$500.00
Nominee shareholder (per year) US$500.00
Courier from US$100.00
Dissolutions US$1,200.00
Redomicile (Does not include independent legal opinion or government fee) US$4,750.00
Resolutions after registration from $200.00

* Nominee directors and nominee shareholders are provided by our office in Panama. If you need candidates to be provided in Barbados, inform us accordingly.