Barbados IBC Benefits

Barbados Means Good Business

Attractive legislation, considered a model for international business centers, and an experienced and well-trained workforce make Barbados a preferred destination for international business entities. JLT Barbados is a leader in this area of robust growth for Barbados.

Barbados has one of the world’s most favorable tax codes for licensed companies earning most of their profits offshore. Some other tax and regulatory advantages include:

• An attractive sliding income tax scale ranging from 0.25% to a maximum of only 2.5%

• No withholding tax required

• No minimum capital requirements

• No capital gains tax or other related estate levy

• No taxes on dividends, interest, royalties or goods imported for IBC and SRL businesses

• Other tax concessions for specially qualified persons, as defined in Barbados law

• Competitively low licensing and annual fees

• No requirement of local directors

• The ability to keep records in foreign currency

• Freedom from exchange controls

• Duty-free access to the United States, Canada and European Union countries

 

Multiple Tax Treaties

Another advantage of domiciling business in Barbados is an enviable network of double tax treaties. From Latin America and Canada to China and the United Kingdom, Barbados has the world covered.

While the Barbados-Canada tax agreements do not include IBCs, dividends from earned income paid to Canadian companies from active Barbados businesses are not subject to Canadian tax.

 

Your Domicile of Choice

Add up all of these benefits and it is clear to see that Barbados is serious about your business. As an international business entity management leader, JLT Barbados can help you decide if a Barbados-licensed business meets your global challenges.