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Offices| Aspect | Details |
|---|---|
| Timeline for Company Registration in Barbados | The timeline for company registration in Barbados is 2 to 4 weeks. |
| Benefits of Business Setup in Barbados |
The list of benefits of business setup in Barbados is as follows:
|
| Types of Business Structures for Company Registration in Barbados |
The list of different types of structures for company registration in Barbados is as follows:
|
| Requirements for Offshore Business Registration in Barbados |
The list of requirements for offshore business registration in Barbados is as follows:
|
| Documents Required for Business Setup in Barbados |
The list of documents required for business setup in Barbados is as follows:
|
| Procedure for Company Registration in Barbados |
The procedure for company registration in Barbados is as follows:
|
| How can we help you with Offshore Business Registration in Barbados? |
At Enterslice, we ensure a smooth and efficient Company Formation in Barbados, offering:
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Let our experts help you start a business in Barbados and benefit from its low corporate tax rate, business-friendly climate, etc.
Barbados provides a supportive environment for foreign investors, with no restrictions on foreign ownership of businesses. The government has streamlined the registration process, making it easier for entrepreneurs to establish their companies. Additionally, the island's modern infrastructure—spanning road, rail, and air—further enhances its appeal. Thus, company registration in Barbados can be a great choice.
If you are looking to start a business in the North American Caribbean islands, company registration in Barbados is a strategic choice due to its stability and business-friendly environment. Choosing the right company structure can significantly impact your business growth. The country offers a skilled yet cost-effective workforce, along with strong political and social stability.
At Enterslice, we simplify the process of company formation in Barbados, offering end-to-end support. With our hassle-free registration services, you can focus on growing your business while we handle the legal and administrative procedures efficiently.
0% Withholding Tax Rate
9% Corporate Tax Rate
No Local Director Required
20 + Double Taxation Treaty
At least One Shareholder
Strategic Location
Minimum Authorised Capital is BBD 0
VAT Rate 17.5%
Pleasing Island with a Boom-town Vibe
The different types of company registration in Barbados are as follows:
Societies with Restricted Liability (SRL) are established under the Societies with Restricted Liability Act and require Central Bank approval for international business activities. They must have one shareholder, one local resident director, no minimum capital, a registered office, and a registered agent. SRLs are exempt from exchange controls and withholding taxes on distributions to non-residents but must undergo an annual audit and file returns if assets or revenue exceed BDS$500,000.
To register an International Business Company in Barbados, a company must obtain approval from the Minister of Industry and International Business. It requires one shareholder, one director (not necessarily local), a registered office, and an agent. No minimum capital is needed, but compliance includes audits for assets/revenue over BDS$500,000, annual returns, and a license fee.
A Regular Barbados Company is incorporated under the Companies Act with Central Bank approval and taxed at 25%. It requires one shareholder, one local resident director, no minimum stated capital, a registered office in Barbados, and may have a registered agent.
International Societies with Restricted Liability (ISRLs) in Barbados operate under the SRL Act and require approval for an International Business Licence. Designed for global transactions, ISRLs cannot do business with Barbados residents or own land, except through a lease for business purposes.
The checklist for offshore business registration in Barbados is as follows:
The list of benefits of business setup in Barbados is as follows:
Barbados offers a favourable tax regime with corporate tax rates as low as 1% to 9% for qualifying businesses. The country has over 40 double taxation treaties, reducing tax burdens on international transactions. Companies operating in special economic zones benefit from exemptions, tax holidays, and other fiscal incentives. Additionally, there is no capital gains tax, making it attractive for businesses engaged in acquisitions.
A concept called a 10-year tax holiday exists in Barbados, it exempts corporations registered in Barbados taxes for ten years. Only after the passing of 10 years, corporations are expected to pay the 2.5% rate.
It provides a stable political and economic environment with a well-developed legal system based on English common law, ensuring a reliable framework for business operations and dispute resolution. Over time, it has demonstrated economic resilience, supported by diverse sectors such as tourism, financial services, and agriculture.
It also offers a strategic location with access to markets in North America, South America, and Europe. The country is well-connected to major cities like New York, London, Toronto, and Miami, ensuring easy access to global clients and suppliers.
Companies incorporated in Barbados and business manufacturing and processing goods and products are eligible for import duty exemption.
Barbados offers a straightforward company registration process, requiring only one minimum shareholder and no minimum authorized share capital (BBD 0). This makes it an attractive destination for entrepreneurs looking for a cost-effective and business-friendly environment.
Barbados offers a business-friendly legislation, that facilitates corporation ease of doing business, such as the Firms Act, the Worldwide Business-Companies Act, and the Societies and Restricted Liability Act.
The Invest Barbados (IB) is a government agency in Barbados who assists Offshore Incorporation in Barbados with financial assistance and a speedy and efficient process of company incorporation. Additionally, full assistance to corporations at no cost is provided by the Barbados Investment and Development Corporation (BIDC).
Barbados has a highly skilled and educated workforce, supported by a strong education system and a high literacy rate. The country also boasts a multilingual workforce with proficiency in English, Spanish, French, and other languages.
The step-by step procedure for company registration in Barbados is as follows:
Select a company structure based on your business operations.
Pick a unique name that follows the naming guidelines set by the Barbados Corporate Affairs and Intellectual Property Office (CAIPO).
Gather required documents, including the Memorandum and Articles of Association, director and shareholder details, proof of identity and address, and the registered office address.
File the incorporation documents with CAIPO. Once approved, you will receive a Certificate of Registration from CAIPO.
Register with the Barbados Revenue Authority to obtain an Income Tax Number, VAT registration, GST, and a Tax Identification Number (TIN).
Set up a business account with banks like RBC Royal Bank, First Citizens Bank, or Republic Bank. No travel is required for directors or shareholders.
Some of the important lists of profitable businesses for offshore business registration in Barbados are as follows:
Sugar cultivation is an excellent option in Barbados due to its favourable climate. The country has a strong reputation in the international market, as the sugarcane variety grown here is highly sought after.
Barbados falls under the Caribbean belt of countries and has a huge number of tourist attractions places contributing significantly to the local economy. One can take advantage of this opportunity to start a business in Barbados .
With a growing economy and a strong culture of healthy living, Barbados has an average life expectancy of 74 years. This creates opportunities to start a care agency to support the elderly.
Barbados is home to several global financial institutions, including J&T Bank and Trust. Entrepreneurs can take advantage of these financial services by starting a financial advisory firm.
The country is actively working to provide adequate housing for its citizens and foreign nationals. This creates an opportunity to establish a real estate consultancy firm to meet the growing demand.
The list of documents required for business setup in Barbados are as follows:
Certified copy of passport
Certified copy of proof of address (electricity bill, bank statements, etc)
Detailed Business Plan
Memorandum of Association (MoA)
Articles of Association (AoA)
Details of local registered address
The list of compliances post-business setup in Barbados is as follows:
Talk to Enterslice consultants, and let us help you overcome the challenges with minimum effort.
The list of requirements for offshore business registration in Barbados is as follows:
The legal framework to start a business in Barbados is as follows:
You may choose Enterslice for company registration in Barbados for the following reasons:
The list of Barbados tax rate is as follows:
No, Barbados is not a tax haven, though it has a low tax in some conditions, it has no tax-free regimen. However, it provides secrecy to business people.
Yes, Barbados allows 100% foreign ownership, foreign investor can opt for International Business company (IBC) status, which is the most popular choice for offshore company in the country.
Here given below is the procedure to register an offshore company in Barbados:
Given below are the reasons why company registration in Barbados is a great choice-
Yes, a company registered in Barbados is required to have a registered office address in Barbados.
There is no share capital required to start a business in Barbados.
The different types of business structures for company registration in Barbados are as follows:
The legal requirements for companies in Barbados are as follows:
The total timeline for company registration in Barbados is around three to four weeks.
A minimum of one director of any nationality is required for company registration in Barbados.
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