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Investing in the Barbados

Barbados is 166 square miles and is the most easterly of the Caribbean Islands. The Island was settled in 1627 by the British and remained a British colony until its independence fifty years ago.

Barbados has a competent workforce, good infrastructure, excellent legal system, low operational costs, stable currency, modern legislation and good tax benefits for both individuals and corporations. Barbados is considered a "clean jurisdiction" with a strong network of Regulators and world class Anti-Money Laundering legislation.

  • Barbados requires extensive due diligence on all entities established, which include trusts, companies and bank accounts, and are subject to the Barbados Money Laundering and Financing of Terrorism (Prevention and Control) Act 2011. This legislation meets the highest of international standards, including those of the OECD Global Forum and Financial Action Task Force (FATF).

  • Banks and trust companies (licensed under the International Financial Services Act and the Financial Institutions Act) are under the supervision of the Barbados Central Bank.

  • The Financial Services Commission regulates and supervises insurance companies, securities, mutual funds and pensions.

  • The International Business and Financial Services Unit is responsible for advising on policy and establishing the legislative/supervisory framework for international business and financial services. This includes the supervision of service providers licensed under the Corporate and Trust Services Provider Act 2015.

In addition to strict regulation and excellent legislation, Barbados is a leader in the Caribbean with an enviable and ever expanding number of Double Taxation Agreements (DTAs), Bilateral Investment Treaties (BITs) and Tax Information Exchange Agreements (TIEAs).

Barbados has signed a Model 1 Intergovernmental Agreement (IGA) with the US in respect of the Foreign Account Tax Compliance Act (FATCA).

Barbados signed onto the Organization for Economic Cooperation and Development's (OECD) Multilateral Convention on Mutual Administrative Assistance in Tax Matters (The Convention) in October 2015. The Convention requires that all countries are required to exchange information on tax matters with all of the other countries in which the Convention is in force. At present, more than 70 countries have signed the Convention.

Barbados offers a number of structuring and operational vehicles for high net worth families and corporations, including:

  • Discretionary Trusts (international and domestic)
  • Purpose Trusts
  • Private Trust Companies
  • Foundations
  • Unit Trusts
  • International Business Companies
  • Segregated Cell Companies
  • Regular Business Companies
  • Society with Restricted Liability (international and domestic)
  • Exempt Insurance Companies (Captives)
  • Special Entry Permits of HNW Individuals
  • Issuance of Securities under the Private Placement Regime
 

Barbados Facts

  • There are 276,900 (2014) people living in Barbados.

  • The workforce of 142,300 (2014) is well-educated with a literacy rate of 99.7%.

  • Barbados is equipped with the most modern telecommunications infrastructure in the Eastern Caribbean, including the latest digital technology and fibre optic systems, international direct dialing and satellite telecommunications.

  • There are direct flights to the Island from many major cities - Toronto, New York, London, Miami, Atlanta, Frankfurt, Bogota and Sao Paulo.

  • The parliament, legislation, court and school systems are based upon the British systems.

  • The Barbados dollar is pegged to the US dollar at BDS$2.00 = US$1.00

  • There are excellent law firms on the Island which often belong to one or more global networks of independent law firms located around the world.

  • All four large international accounting firms have a presence in Barbados, which are supplemented by independent firms.

  • Barbados has its own stock exchange (BSE) established in 2001.

  • Modern legislation has been enacted with respect to trusts, asset protection, companies, insurance, foundations, investment vehicles, private trust companies and non-domicile residency for high net worth individuals.
     
 
 
 
 
 
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Argentum Asset Management Inc. • Williams Tower, 3rd Floor, Warrens, St Michael • Barbados • BB22026