Barbados Company

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Jurisdictions >> Barbados Offshore >> Barbados IBC

Barbados Company Formation. Barbados IBC. Barbados Offshore Company.

Worldwide Incorporation Services specializes in Barbados Company Formation and opening bank accounts.

Barbados – General Information

Barbados Company Registration

Location: Caribbean, island in the North Atlantic Ocean, northeast of Venezuela.
Area: total: 430 sq km, land: 430 sq km , water: 0 sq km.
Natural resources: Petroleum, fish, natural gas.
Population: 292,336 (July 2017 est.).
Capital: Bridgetown.
Time Zone: UTC−4.
Languages: English (official), Bajan (English-based creole language, widely spoken in informal settings).
Government type: Parliamentary democracy (House of Assembly) under a constitutional monarchy; a Commonwealth realm.
Legal system: English common law; no judicial review of legislative acts.
International organization participation: ACP, AOSIS, C, Caricom, CDB, CELAC, FAO, G-77, IADB, IBRD, ICAO, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, ISO, ITSO, ITU, ITUC (NGOs), LAES, MIGA, NAM, OAS, OPANAL, OPCW, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO.
Economy: Barbados is the wealthiest and one of the most developed countries in the Eastern Caribbean and enjoys one of the highest per capita incomes in the region. Historically, the Barbadian economy was dependent on sugarcane cultivation and related activities. However, in recent years the economy has diversified into light industry and tourism. Offshore finance and information services are important foreign exchange earners, boosted by being in the same time zone as eastern US financial centers and by a relatively highly educated workforce.
Currency: Barbadian dollar (BBD).

Barbados Offshore Company – Overview

Principal Corporate Legislation

The International Business Companies Act (IBC Act) 1991, Companies Act Cap 308 as amended.

Type of Law

Common.

Language of Legislation and Corporate Documents

English.

Type of Company for International Trade, Investment & Tax Planning

Barbados IBC – International Business Company.

Barbados IBC – Key Facts

Share Capital

Standard authorised share capital is US$1,000 divided in to 1,000 shares of US$1. Minimum paid up share capital is US$1.

Classes of Share Available

Registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.

Bearer Shares

Not permitted.

Restrictions on Trading

A Barbados IBC cannot trade within Barbados. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Office Required

Each Barbados Company must have a Registered Office in Barbados, provided by a licenced service provider.

Directors

A Barbados IBC requires a minimum of one director. Director can be of any nationality and need not be resident in Barbados. Corporate directors are permitted.

Shareholders

A Barbados IBC requires a minimum of one shareholder.

Publicly Accessible Records

No.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

No.

Taxation

1-2,5% depending on income.

Double Taxation Treaty Access

None.

Requirements to File Accounts

Yes.

Requirement to File Annual Return

None.

Audit Requirements

Only if income exceed US$500,000.

Currency

Barbadian Dollar (BBD).

Exchange Control

None.

Language of Name

English.

Restricted Words

Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification.

Name of an Barbados IBC

The words “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima” or Ltd, Corp., Inc., S.A. must be part of the name of every Barbados company.

Time to Incorporate

Two weeks.


Barbados IBC – Cost of Barbados Company Formation

 
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  • We’ve been helping business owners since 1998
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  • We work closely with Barbados Companies Registry to guarantee our service

Barbados Company Formation – Office Addresses

 

 

Services related Barbados Company Formation

Worldwide Incorporation Services provides the following services related Barbados Company Registration:

  • Formation of a Barbados Company
  • Registered Office and Agent Services in Barbados
  • Samoa Company Secretarial Services
  • Nominee Shareholder/Nominee Director
  • Opening of Bank Accounts
  • Full Company Administration Services
  • Mailing Address in Barbados
  • Trademark Registration

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