 |
Home > Offshore Jurisdictions > Barbados
Offshore Company Formation BarbadosGeneral Information about Barbados Barbados is an independent island nation located in the Eastern Caribbean, north of Venezuela at latitude 13deg. North, 59 deg. West. It has an area of 430 sq. km with a population of about 280,000. The capital is Bridgetown and the currency the Barbados dollar. The main industries are agriculture, tourism and financial services. Barbados Companies The form of company used by non-residents for international operations is the international business company, incorporated under the International Business Companies' Act 1991. An IBC may engage in manufacturing or other activities in Barbados providing the goods or services are exported outside the Caricom area. Residents of Caricom area countries may not own more than 10% of the company nor may they receive more than 10% of the interest or dividend payments made by the company. Taxation An IBC is taxed at rates of between 2.5% in respect of profits up to B$10,000 and 1% over 30,000. Rates are negotiable to some extent subject to a minimum rate of 1%. An IBC is resident in Barbados and able to take advantage of the Island's network of double taxation treaties, subject to limitations in some cases. An "active" IBC is particularly attractive to Canadian residents as distributions suffer no withholding tax and are not taxed in Canada. Barbados also has a useful tax treaty with China and amongst other benefits a Barbados IBC can eliminate liability to Chinese capital gains tax.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Why not talk to us about forming an offshore company in Barbados? Call +353 1 431 9663 or 