A Reputation Beyond Reproach
The reputation of Barbados as a transparent domicile from which to conduct business is consistently upheld by Transparency International, which ranks the world’s economies for fairness. In its 2012 Corruption Perception Index, the organization ranked Barbados 15th with a score of 76, two spots ahead of the United Kingdom and four ahead of the United States.
Barbados scored a 76 in 2012, when more than two-thirds of the countries scored 50 or less. In 2011, the Transparency International index also ranked Barbados as the 15th most transparent country. Only Canada ranked higher than Barbados in North America or South America.
Educated and Experienced
Barbados, with its high quality of life, is consistently ranked among the top countries for providing educated, trained business and finance professionals. JLT Barbadoshas tapped the best of the best to become a business and insurance management leader.
Combine this expert, cost efficient workforce with state-of-the-art telecommunications, strong transportation and good roads and you have a recipe that thousands of Barbados-domiciled companies have tasted and enjoyed.
Attractive Tax Rates
In this age of transparency, it is important that financial centers feature a tax rate that is fair, yet competitive. Barbados has a business tax structure that meets all of these requirements. Large companies, in particular, are subject to extremely low tax rates at certain levels.
International Business Companies (IBCs) and Societies with Restricted Liabilities (SRLs) pay 0.25% tax on net profits above $30 million in tax year 2013, after passage by the Barbadian government of a tax rate reduction in 2012. Offshore banks and other financial services companies will pay tax at the same reduced top rate, ensuring consistency across the financial sector.
Advantage: JLT Barbados
JLT Barbados serves with pride the rainbow of industries that make Barbados—and the rest of the world—their home. Whether you need a firm to manage an International Business Company (IBC), a Societies with Restricted Liability (SRL) or other business entity, count on JLT Barbados to meet your varied needs.