Barbados Offshore Trust Services

Barbados offshore trust services are thoroughly regulated and have been highly rated by the Organisation for Economic Cooperation and Development. Corporate trust services along with other...

Barbados Companies

Barbados companies for offshore trade are officially known and International Business Companies and were introduced in 1991 by the International Business Act. Barbados companies are owned by non...

Barbados Trust Formation

Barbados trust formation is regulated by the Barbados International Trusts Act. Barbados offshore trusts are formally known as International Trusts and are reserved to be used by individuals and...

Barbados Companies

Barbados companies for offshore trade are officially known and International Business Companies and were introduced in 1991 by the International Business Act. Barbados companies are owned by non residents of the island and offer many tax, trade and privacy benefits.

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Offshore companies in Barbados are recognised internationally as commercial entities and can be used for various business ventures, including shipping, e-commerce, e-marketing, consultancy, technical services and mining. A Barbados company is often referred to as a Barbados corporation and cannot be used locally to trade with residents of Barbados but is able to establish professional relationships with local lawyers, accountants, bankers and other business consultants.

One of the benefits of Barbados companies offshore is the fact that there are no restrictions on ownership in terms of nationality, thus allowing for any person that qualifies legally to own a Barbados company. Ownership of a Barbados offshore company can also be held by another corporate entity since not only natural persons are allowed to be owners.

As international business companies that are recognised worldwide, Barbados companies can be used to enter foreign markets and benefit from the bilateral investment treaties and other preferential tax agreements that Barbados has with other countries.

A Barbados company is an independent, legal entity that is separate from its owners. Barbados offshore companies have juridical personality and can therefore enter into contractual agreements, open and manage bank accounts in their names, invest in securities, take mortgages, provide loans and undertake legal proceedings and actions against other companies as well as individuals.

Barbados corporations offshore are companies with limited liability and therefore provide protection for the personal assets of their owners. As companies with limited liability, should an offshore company Barbados suffer loss, this loss shall be restricted to the assets of the company and not the shareholders. This is an important aspect in Barbados company incorporation in that this in itself is a form of asset protection.

An important benefit of companies in Barbados is privacy. Privacy is enshrined in the IBC Act for Barbados offshore companies and privacy provisions ensure that the details of the owners and members of a Barbados IBC are kept confidential. The conditions under which such information can be given are very clear and relate to the court making an order where a Barbados offshore company is involved in criminal activity.

Unlike regular offshore companies, Barbados IBC’s are not fully tax exempt; instead they are low tax companies that are taxed on a sliding scale of 2.5% on profits up to 5million dollars, 2% on profits between 5 and 10 million dollars, 1.5% on profits ranging between 10 and 15 million and 1% for profits exceeding 15million dollars. Tax credit is available in Canada for Canadian companies that receive dividends from a company in Barbados.

Other tax incentives that offshore corporations Barbados obtain include duty free concession on imports, preferential income tax treatment for foreign specialists based in Barbados and exemption from tax on income, gifts and the transfer of assets.

Barbados companies are given very simple licensing procedure and pay a yearly licensing fee of US $100. There are no exchange controls on offshore companies Barbados and real estate in accordance with legal requirements can be acquired.



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