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Barbados

Market Expansion Guide

Why Barbados?

Barbados has been a prime location for international banking activities for years thanks to attractive tax incentives, special exemptions, guarantees on future taxation, high-quality professional services, and a reputation for being a preeminent offshore banking centre. The island benefits from a long tradition of political and social stability, a highly-skilled and productive workforce, sophisticated international telecommunication services, and robust regulatory infrastructure.

Reasons to set up an offshore entity in Barbados:

Favourable tax structure: Barbados has a very favourable tax structure, including Tax at the rate of .25% (on profits over US$15 million), up to 2.5% (profits up to US$5 million); no direct tax or capital gains; no withholding tax on interest, dividends, royalties or fees; no exchange control on foreign currencies; income tax concessions for employees that qualify.

Pro-business government: The Barbados government focuses heavily on improving the investment climate of Barbados and on enhancing the infrastructure to support increasing business activity. Its prudent regulatory environment meets or exceeds international best practices. Barbados has earned a very good reputation for its levels of security and integrity and enjoys positive international recognition for its regulatory systems, anti-money laundering, tax information exchange and other requirements.

Regulatory compliance: The flexibility of the Barbados Companies Law is one of the main reasons the island is a leading offshore jurisdiction. Companies that take advantage of this favourable regulatory environment enjoy numerous benefits. For example, the financial statements of companies in the international business and financial services sector are not open to inspection by the public, and tax and duty exemptions are guaranteed for 30 years.

How Tricor can help in Barbados

Our multi-disciplined team of very experienced professionals is supported by modern technology and systems, delivering high-quality, fast and efficient range of corporate and business administration services to meet your specific needs. We work very closely with our group locations and business partners, including major international accounting firms, financial, tax and legal advisers, to implement and manage solutions for our clients wishing to access the DTA and BIT network, including:

  • Entity Formation & Organisation
  • Business Registration & Licensing
  •  Corporate Restructuring & Advisory
  • Company Secretary
  • Registered Office / Registered Agent
  • Entity Due Diligence
  • Scrutineering
  • Recording Secretaries
  • Statutory Custodial & Safe-keeping Arrangements
  • Establishment of Banking Facilities
  • Ongoing Statutory & Governance Compliance
  • Voluntary Liquidations
  • Financial Reporting
  • Tax Compliance
  • Payroll & Treasury Operations
  • Bank Account Administration & Management
  • Financial Audit Oversight
  • Branch Management
  • Active Business Solutions
  • Executive & Employee Recruitment
  • Entry & Work Permit Applications
  • Employer Consultations & Advisory
  • Contract Structuring & Review
  • HR Compliance Audits
  • Outplacement Support
  • Regulator Liaison
  • Multi-jurisdictional Coordination Services
  • Provision of support services tailored to specific client needs

Formation, registered office and registered agent services

  • Incorporation of Business Companies, formation of limited partnerships, registration of foreign companies
  • Compliance with Barbados regulatory requirements:
    › Provision of registered office and registered agent facilities
    › Custodian services and maintenance of statutory records
    › Attending to statutory filings
    › Arranging for payment of annual fees to the Barbados authority
    › Acting as principal share registrar and transfer agent
  • Issuance of Certificate of Incumbency / Good Standing and document certification
  • Facilitating legalization and apostille of documents at various embassies and consulates
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