Barbados: A Leading International Business Centre
Barbados serves as the perfect international business centre as it offers major advantages over other jurisdictions.
International Businesses Choose Barbados For:
1.Low Tax Rates – Barbados offers very low tax rates from 2.5% down to just 0.5% of net income. Additional tax benefits include no withholding taxes on dividends, royalties or interest. Capital gains are also tax exempt.
2.International Tax Treaty Network – Barbados has a large and expansive tax treaty network with over 30 nations. The treaty network offers strong protection of investments between countries and avoids double taxation of income.
3.OECD “White Listed” – Barbados has been recognized as a leading low tax jurisdiction by the Organization for Economic Co-operation and Development (OECD) for having substantially implemented the internationally agreed tax standard.
4.Variety of Company Types – There are a variety of company types available in Barbados including International Business Companies and Societies with Restricted Liability to facilitate international trade, commerce and manufacturing businesses, International Trusts for asset management and protection, Exempt Insurance Companies and Qualified Insurance Companies for captive and international reinsurance, and International Banks.
5.Regulated Banking Sector – Barbados has a well regulated banking sector with firm rules in place to provide stability to the banking system and prevent money laundering. Many international businesses feel right at home in Barbados with leading banks such as RBC Royal Bank, Scotiabank and CIBC FirstCaribbean International Bank all offering international business and investment services.
6.High Quality Professional Services – Barbados has many highly qualified professionals including attorneys, managers and accountants who can setup, manage and run the international business on the owner’s behalf. Most of these professionals hold internationally recognized designations.
7.A Developed Nation – Barbados is one of the few independent international business jurisdictions regarded as a Developed Nation by the U.N. The U.N. Human Development Index ranks the island’s development as third in the Americas after only the U.S.A. and Canada.
8.Developed Infrastructure – Daily direct flights are available from major international cities worldwide. The island features the high quality telecommunication network needed to serve as an international business hub; it offers upscale short-term and long-term accommodations as well as attractive office space options.
9.Special Entry Permits for Immigration – Barbados Immigration offers indefinite Special Entry Permits and indefinite work permits to High Net Worth Persons which make living and working in Barbados convenient and hassle free.
10.Tropical Paradise – Barbados is an idyllic tropical paradise making it a great destination for business travel, investing, working, living and enjoying life to the fullest.
Barbados has rightfully earned its reputation as a leading international business centre. The country has been able to successfully combine low tax rates with an expansive treaty network in a stable banking environment. These factors provide business with a strong competitive advantage without compromising on the regulation needed to ensure the long-term viability of the system as a whole.
Seaside Realty has partnered with the Barbados Offshore Advisor to bring our clients the experience and professional network that they need to succeed. Please contact us to get assistance with all of your international business needs.