Barbados Company Formation

Barbados Company Formation
  • Stable jurisdiction and highly sustained reputation
  • Time of Barbados company formation (IBC) takes 10 business days.
  • Personal presence not required
  • Popular company type:
    • International Business Company (IBC)

Tax Rates in Barbados

Corporation Tax in Barbados: The rate of tax applicable generally to both resident and non-resident companies in Barbados is 25%. Under certain conditions, outlined in the ‘Small Business Development Act’ small businesses pay tax at a rate of 15% of every complete dollar of taxable income.

Income Tax in Barbados:  The basic rate of income tax is 16%, and the higher rate is 33.5%

VAT Tax in Barbados: 17,5%

About Barbados

Country: Barbados

Capital: Bridgetown

Continent: North America

Language: English

Currency: Barbadian dollar

Time Zones: GMT +1

Dial Code: +1 246

Abbreviations: BB, BRB

What we can do for your Company in Barbados

  • We do all paperwork on forming the company in Barbados
  • Formation is completely remote
  • Can act as Secretary or Treasury
  • Provide nominee Directors/Shareholders
  • Assist with opening a bank account
  • Registration for Taxes, VAT & EORI
  • Develop a website for your business
  • Create a logo of your brand
  • Provide with full company administration services
  • Arrange a mailing address for your business
  • Arrange a virtual office for your company
  • Telephone answering service
  • Book keeping, audit & reporting
  • Preparing and submitting VAT return
  • Dealing with local authority
  • Trademark registration

Barbados Company Formation. International Business Company / Barbados (IBC).

Main Characteristics and the basic rules of Company registration in Barbados.

Taking business to an off shore destination may be on your agenda. If you want to expand the venture in the Caribbean region, probably nothing fits the bill as good as Barbados. Apart from the natural beauty and serenity that attracts tourists, Barbados is also enticing from business expansion perspective. You will face fewer hardships in this country compared to many others in this regard and which is why so many investors start looking for Barbados Company Formation service as soon as they land on the shores on Barbados.

When you plan to take your venture to a distant offshore destination, the taxation aspects has to be analyzed. The nice thing about Barbados is it has got into new Double Taxation Agreements with several countries. The corporate tax level is below 2% for the international businesses.

Barbados Company Formation or taking your existing venture to Barbados should be simpler than you imagine. The country has a stable and democratic government- to begin with. As for economic growth and performance, there is nothing to fret about. Its business formation norms mimic those of the USA. It would not be too hard to start limited liability companies, nonprofit companies and limited partnerships. The government of the country has taken care to refine the laws for making things better for foreign investors.

It is easy to expand different types of businesses to Barbados. However, sectors like international business services, manufacturing, tourism, agriculture seem to be more profitable than others from business expansion perspective here. Tourism related business tend to do especially well in the country. The benefits like 10-year tax holidays and exemption from the import duties make things rosier for foreign investors here.

You can register your venture in Barbados either as a limited liability firm or corporation, as per law. It is also possible for you as a foreign investor to opt for International Business Company status. These are applicable for companies dealing with manufacturing, commerce and international trade.

No matter what type of venture you have and want to expand operation to Barbados, proper planning is required when it comes to Barbados Company Formation. You have to get facts clear on the country’s tax norms and get documentation in place prior to application. For these, you will require assistance from an agency with expertise in tax, business laws of Barbados. The Barbados Investment and Developing Corporation does offer free consulting. However, you will do better by seeking Barbados Company Formation services of a veteran entity lie BRIS. We offer enough skilled manpower and required resources to business owners eyeing Barbados for starting operations. Just call us for details.

Bahamas Company Formation

Financial Advantages
Taxation:1% – 2.5% for an IBC
Double Taxation Treaty Access:Yes, taxation treaty access is signed
Barbados Tax Information Exchange AgreementsYes, taxation treaty access is signed
Account Filing Requirements:A Barbados IBC needs to file a tax return depending on its financial year-end as follows: On 15th March if the company’s year-end is between 1st January and 30th September. On 15th June if the company’s year-end is between 1st October and 31st December.
Annual Return Filing Requirements:A Barbados IBC is required to file an annual return together with its financial statements by 31 January each year.
Audit Requirements:Should be audited only if its gross assets or revenue exceed US$500,000.
Barbados Company FormationRegistration Requirements
Share Capital:US$1,000 Minimum paid up share capital: US$1
Classes of Share Available for Barbados company formation:Shares with or without voting rights, redeemable shares, registered shares, preference shares, shares of no par value
Minimum paid up share capital:US$1
Bearer Shares:Yes Allowed
Registered Office Required:Yes, required and must be maintained in Barbados
Registered agent:Yes, required
Shareholders:Minimum number is one
Directors:Minimum number is one. Can be any nationality and need not be resident in Barbados. Corporate directors are allowed
Company Seal:Yes, company must have a company seal.
Your Company language:English
Name of your Company must be ended:“Corporation”/ Corp., “Limited”/Ltd, “Incorporated”/Inc.,, “Societe Anonyme”/S.A., “Sociedad Anonima”
Documents required for Barbados company formation:A certified copy of your passport or ID and proof of your residential address dated less than 3 months.


Barbados Company Formation

For Barbados company formation you cannot use words in your company names without justification:“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc.
Restrictions on Trading:None
Not permitted without a licence:Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.

Barbados Company Formation

Confidentiality and Security
Publicly Accessible Records:No public register of company officers (Directors, Shareholders, Secretary)
Possibility to use Nominee Shareholders and Nominee
Directors for Barbados Company Formation:
Yes, allowed
Disclosure of Beneficial Ownership to Authorities:NO, The names or identities of beneficial owner do not appear in any public records
Meetings of Directors and Shareholders to be held:You can hold Meetings of Directors and Shareholders of Barbados IBC anywhere
What is the stability to register Barbados Company (IBC)Stable jurisdiction and very highly regarded reputation.

About Bahamas

Capital city:Bridgetown
Region:Barbados is an island nation located in the Caribbean. Barbados are the easternmost island in the Caribbean and are in fact completely surrounded by the Atlantic Ocean and not touched by the Caribbean Sea at all
Political System:Parliamentary democracy and constitutional monarchy
Government:Constitutional monarchy, Parliamentary system
Governing corporate legislation:Companies Act
Type of Law:English common law
Type of company:International Business Company (IBC)
Currency:Barbadian dollar
Exchange Control:None
Language of Legislation and Corporate Documents:English
Time Zone:GMT+1.
  • Tax on income on a sliding scale, from a maximum of 2.5% to a minimum of 1%.
  • Exemption from all withholding taxes on payments to persons not resident in Barbados.
  • No capital gains tax or estate duty.
  • Freedom from exchange control regulations.
  • Books and records may be kept in a foreign currency.
  • Guarantee of benefits and exemptions for a period of 15 years.
  • No minimum capital required.
  • Provisions for inward and outward re-domiciliation.
  • Modern and flexible corporate legal framework.
  • Branch operations may benefit from IBC status.

This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.

BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.

Our team of consultants are here to take you through the process.