Barbados is the most easterly of the Caribbean islands, situated 1,600 miles south east of Miami, with an area of 166 square miles and a population of 285,000. There are daily direct flights from Miami (approximately 3 ½ hours ) New York (4 hours) Toronto (5 hours) and London (8 hours).
A Dynamic Economy
Barbados is an independent English-speaking Commonwealth country with a dynamic economy and its legal system is based on English Common Law as modified by statute. Barbados is an outstanding domicile for international business and is consistently rated in the top tier by the world’s leading agencies. Independent since 1966, the island’s stable government and strong regulatory framework create an attractive business environment for international corporations and high net worth investors. There are currently over 4,100 entities comprising of International Business Companies and Societies with Restricted Liability registered in Barbados.
A Leading Financial Centre
Barbados has differentiated itself from its competitors as a leading financial centre offering the following unique advantages:
- Long history of political, social and economic stability
- Attractive tax rate – Barbados legislation provides attractive tax concessions and incentives. Companies are taxed on a sliding scale form 5.5% to 1% depending on their profit. Companies that earn 100% of their profits in foreign exchange are entitled to a Foreign Currency Permit which entitles them to very attractive tax exemptions.
- Barbados has a well-developed tax treaty network which can provide attractive tax concessions and incentives and can eliminate double taxation. The Barbados Government is committed to expanding its Treaty Network and has successfully negotiated a significant and growing number of double taxation agreements and has eleven bilateral investment treaties