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Barbados

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The perfect destination for doing business with the United States and Canada. Reduced tax rate between 2.5 % – 1.0 %, exemption from withholding tax on dividends, interest, mining fees and other income paid to non-residents.

Barbados is waiting for you!

Why incorporate a company and start a business in Barbados

The legal system in Barbados is based on English law. Barbados' location makes it a convenient entry point for trade with the United States and Canada. Businesses in Barbados have a large number of American and Canadian clients and a number of contracts are concluded between the countries.

Barbados has a basic corporate income tax rate of 2.5 % (this can also be reduced to 0.5 % depending on profits). In addition, Barbados is sweetened by a number of double taxation treaties, including the one with the Czech Republic. This means that you have an open way to trade with other states without having to worry about high taxation.

Only one shareholder and one director are required to establish a company.

So if you are the only boss in your company, there is no need to worry about any extra costs for other executives, shareholders, etc. You will run your business yourself!

A major bonus for companies registered in Barbados – the company register is not publicly accessible. Imagine that no one will find out anything about your business or monthly income if you don't want to. In addition, there is really no way to find out this information, as Barbados does not share this type of information with other countries. At least for now.

If you still have doubts about your anonymity, you can get a higher level of anonymity by using nominee services. You can hire nominees to help you with some important points in your business.

INVESTMENT

The Government of Barbados provides support and offers investment incentives mainly for the following areas of the national economy:

  • Information Technology
  • tourism and tourism
  • communication – call center
  • financial services
  • international insurance industry
  • international trade
  • industrial production

The sector of tourism and related services can be considered the most promising sector for investment, with regard to the structure and possibilities of the Czech national economy. In the country, private ownership is ensured by law and there are no national or regional privatization projects. According to available information, no development projects are being prepared.

Basic information

  • Legal entity type: IBC
  • Establishment of the company: at least 2 weeks
  • Minimum number of shareholders: 1, can be FO or company
  • Cash on delivery is allowed
  • Necessary local company headquarters
  • Minimum of 1 director, need not be a resident of Barbados
  • Has an obligation to keep accounts
  • Companies whose profits or total assets exceed $500,000 are subject to a financial audit

Taxation

  • The corporate tax rate for local businesses is basically 25 %. For manufacturing companies 15 %
  • 15% from property rental. Dividends (non-residents) 15 %, Dividends from untaxed profit (non-residents) 15 %
  • The VAT rate is 17.5 %
  • Accounting is not required
  • Audit is not required
  • Anonymity: information about directors and shareholders is not publicly accessible

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