:
registration of legal entity

Cost of registration The cost of the second year Number of Directors Corporate tax rates Payment of Charter Capital Financial statements
1050.00 USD 900.00 USD 1 1-5.5% 0.00 Yes

Registration of a company in Barbados

barbados.jpg

Barbados is a country located in the Lesser Antilles of the West Indies, it is bordered by the Windward Islands and the Caribbean Sea, Saint Lucia, Saint Vincent and Grenadines, Martinique and north east of Trinidad and Tobago.

The capital of Barbados is Bridgetown (it is also the largest city in Barbados), the population of Barbados is over 280, 000 people with English and Bajan creole as its official languages. Barbados is ranked as one of the leading tourist destinations as it is considered part of the Caribbean islands. The official currency of Barbados is the Barbadian dollar (BBD).

The government of Barbados is that of unitary parliamentary constitutional monarchy. Barbados is a member of the Commonwealth of nations, world trade Organization, Caribbean Community (CARICOM), Organization of American States (OAS) and Caribbean Court of Justice (CCJ). The legislative framework regulating the activities of the company is the Companies Act 1982.

Benefits of Company Formation in Barbados

  1. Political and economic stable jurisdiction;
  2. Government policies favouring foreign investments;
  3. Favourable tax regime (10 year tax holiday);
  4. Details of shareholders and beneficiaries are not available to the public;
  5. No minimum capital requirements;
  6. No foreign currency control (Permit required);
  7. Double taxation treaties signed with over 40 countries.

Business in Barbados: Taxes

  • Corporate tax rate - 25%;
  • Corporate tax rate for IBC - 1%-2.5%
  • Personal income tax rate - 16%-33.5%
  • VAT rate - 17.5%
  • Duty-free options (including import duty exemptions)
  • Double taxation treaties and tax information exchange agreements signed with over 40 countries and 5 countries respectively.
  • Ten year tax holiday for newly incorporated companies.

Business in Barbados: Types of Companies

  • Limited Liability Company
  • International Business Company
  • Mutual Insurance Company

To register a company in Barbados, it is necessary that the company's activities meet the following requirements:

  • The company is registered in Barbados;
  • The assets of the company accrued before the liquidation of a business, which will be used in favour of shareholders and charge holders (if they are residents of the Caribbean Community Countries) must not exceed 10%;
  • Residents of the Caribbean Community Countries can have interests and dividend payments not exceeding 10%;
  • Companies conducting relevant activities such as financial services, insurance, fund management, shipping, intellectual property holdings and equity holding companies and many more are required to meet an economic substance test which includes conducting its core-income generating activities within Barbados, having control and management from Barbados, and an adequate number of employees, expenditure and assets in Barbados according to their business activities;
  • The Company name.

Bookkeeping in Barbados

Annual financial return - Yes.

Annual audit - No.

Annual tax return requirements - No.

An audit is only required if the profit gained by the company exceeds US$500,000.

Company Formation Requirements

  1. Certificate of Incorporation;
  2. Memorandum and Articles of Association;
  3. Minimum of one shareholder;
  4. Minimum of one director. No residence requirements;
  5. No minimum capital share requirement;
  6. Notarized copy of your passports;
  7. Directors’ acceptance letter;
  8. Company secretary appointment;
  9. Legal registered office address;
  10. Minutes of first meetings;
  11. Share certificates;
  12. Shareholders’ and Directors’ register.

How to Register a Company in Barbados: The Registration Process

Step 1. Law and Trust works with the client to get the company’s name and activity approval from the Companies Registry;

Step 2. Law and Trust works with the client to secure the Memorandum of Association (MOA);

Step 3. Law and Trust collects, prepares and files the necessary incorporation documents on behalf of the client to the relevant authorities for approval;

Step 4. Law and Trust works with the client to open a corporate bank account in Barbados;

Step 5. Law and Trust deliver the certificate of incorporation personally to the client or via courier service.

Barbados Company Formation FAQs

How much does it cost to register a company in Barbados?

The cost of registering a company in Barbados is $1050. the total cost includes the preparation of legal documents, company registration, payment of all taxes and fees at the time of registration and legal address for the company (a year).

How long does it take to register a company in Barbados?

It takes from six weeks to complete the company registration process in Barbados.

Do I need a local address to register a company in Barbados?

Yes, it is required to have to a registered local address in Barbados to complete the necessary company registration and formation process.

Do I need a local registered agent to register a company in Barbados?

Yes, a local registered agent is needed to complete the company registration process in this jurisdiction.

How can I register a company name in Barbados?

The registration of a company name begins with the filing of the appropriate documents, Law&Trust helps with preparation and compilation of the necessary documents ensuring it meets the requirements set out by the Companies Registry with regards to the approval of a company name.

Why Incorporate with Law&Trust International?

Benefits of company registration, formation, and incorporation services with Law&Trust International in Barbados include:

Full range of related services: Provision of a full range of legal, corporate, government, and business intelligence related services in Barbados. A detailed overview of our services includes full legal support of the company registration procedure, obtaining a legal address, interaction with the official government authorities of the jurisdiction, state fees, legal address of the company for a year, production and registration of company stamps and advising the client as part of the registration process. Opening a bank account and the cost of these services are discussed during the consultation.

Professionals and expertise of Law: Worldwide registration and legal maintenance of companies, accounting services, and audit, tax planning and optimization, trademark and patent registration. Law and Trust provide clients with the best company incorporation services.

Domestic service: Law&Trust ensure our services cover every region, area or state in Barbados. Be rest assured that no matter where the new company intends to incorporate in Barbados, we’ve got the location covered.

Free initial advice: Free consultation from the lawyers of Law&Trust International regarding strategies or the provision of services for analyzing and developing a legal position on an issue the client raises in Barbados.

Confidentiality: Law&Trust makes use of modern technological features to keep the records and details of every client safe.

Efficiency and productivity: Strategically providing up to date personalized services to help your business succeed.

Ready for Company Incorporation?

If you are interested in registering and incorporating a company in Barbados, contact Law & Trust International by simply sending an email or call now to take your business to the next level!

Set of documents
   
  • Ask our manager
Nominee director and shareholder
   
  • Ask our manager

General information
Square430.00
Population287 733.00
CapitalBridgetown
Unemployment26.20
State polityParliamentary democracy
Telephone code1 246
Place in the world in corruption16
locationCaribbean basin
ClimateTropical; rainy season (June to October); avg. maximum temperature (August) +30°; avg. minimum temperature (January)
Literacy rate99.70%
Ethnic groupsBlack 90%, white 4%, Asian and mixed 6%
National currencyBarbados Dollar
USD exchange rate2.00
GDP per capita56
Official languageEnglish
Credit ratingBBB
The judiciaryThe Supreme Court consists of the High Court and Court of Appeal
Executive authorityHead of government: Prime Minister. Cabinet of Ministers appointed by the Governor General on the advice of the Prime Minister
Legislative authoritiesbicameral Parliament: the Senate (21 seats), House of Assembly (30 seats)
Corporate information
Opportunity to purchase ready-made companiesNo
Legal systemBased on English Common Law
The use of the Cyrillic alphabet in the nameNo
Local registered officeNo
Indication of BPA in the nameLimited, Incorporated and Corporation or Ltd, Corp and Inc. The Barbados LLC is known as an SRL, Society with Restricted Liability.
Local registered agentNo
Shares and share capital
Standard currencyBarbadian dollar
The minimum amount of the issued capitalNo
Bearer sharesNo
The usual size of the authorized capital50000
Possibility to issue shares without par valueNo
Taxation
VATNo
Basic corporate tax rate1-5.5%
Capital gains taxNo
Currency controlNo
Corporate tax rates detailsTaxable income: up to 10,000 BDS $ '000 rate 2.5%; 10,000 - 20,000-2.0%; 20,000 - 30,000-1.5%; more 30,000-1.0%. Updated February 2018: Rate is 25% for regular business companies; 5% on life insurance businesses; and 0.25%-2.5% for International Business Companies, International Societies with Restricted Liability and international banks. Branch profits tax of 10% also levied.
Stamp dutyNo
Director and Secretary
Minimum number of directors1
The requirement for residency directorsNo
Director of legal entities are allowedYes
The data reveals to the local agentNo
Data field to the public registryNo
The requirement for the presence of the SecretaryYes
Requirement to the residense of the SecretaryYes
Requirements to qualification of the SecretaryNo
Legal entity as the SecretaryNo
Shareholder and beneficiary
Minimum number of shareholders1
Data is entered in the public registerNo
Shareholders residency requirementNo
Information about the beneficiary is disclosedNo
Information may be disclosed to the local agentNo
Shareholders-legal entities are acceptableYes
Reporting
The requirement for filing reportsYes
Open access to reportsNo
Statutory auditNo
The requirement for filing Annual ReturnNo
Open access to the Annual ReturnNo
The requirement for reportsYes
Treaty on avoidance of double taxation (States which signed)12
Membership in the OECDNo
Is it offshore according to Russian legislationYes
Trademark Registration
TM Comprehensive Study TM Registration Request TM Registration Certificate Total
First Class Additional Class First Class Additional Class First Class Additional Class First Class Additional Class
270.00 270.00 1350.00 1350.00 0.00 0.00 1620.00 1620.00
«TRADEMARK» refers to «Wordmark», «Logo» or «Wordmark + Logo»

Prices include all professional and official fees. If the change of official duties or exchange rates prices may vary.

The Trademark Registration Price considers an average estimate price for publications; if a larger image or longer item description is needed, an additional fee may apply. Final publication costs are not known until after expiry of the opposition period (90 days after publication).
By using information from this page please read the Disclaimer
uptocall_male.jpg