International Business Company Formation Barbados
International Business Companies Act 1991.
1. International Business Company is licensed to conduct international manufacturing, trade and commerce activities.
2. Requires a minimum of one director, and corporate directors are permitted.
3. Must maintain a registered office in Barbados.
4. Financial statements for IBCs must be audited where total assets or revenue exceeds US$500,000. An annual tax return is required for all companies.
5. Privacy is protected and there is no need to publicly file financial statements.
Shares and Capital Requirements
Single shareholder companies are eligible.
The details of company beneficial owners and shareholders are not part of the public records.
The minimum issued capital may be one share of par value.
Issued shares must be fully paid.
There is no minimum capital requirements.
Tax rate from 2.5% of income down to 0.5% depending on the income level.
Capital gains are tax exempt.
There are no withholding taxes on dividends, interest, royalties and management fees paid to nonresident.s
Exempt from import duties and taxes on materials, machinery, plant and equipment intended for business use.
Citco Corporate Management (Barbados) Limited
Offshore Company Providers
Full range of trust services, including creation of Trusts, acting as Trustee, management and administration of Trusts and Foundations as well as providing accounting services to Trusts and Foundations.
Platinum Offshore Management Services, Inc
Provides management and corporate solutions to international clients, including IBC formation and other services.
Trident Corporate Services (Barbados) Ltd.
Provides corporate, financial, and trust services for international clients.
Tricor Caribbean Limited
Corporate and business administration services.
List of Barbados Offshore Banks
Barbados is a Caribbean, island in the North Atlantic Ocean, northeast of Venezuela.
Population: 287,733 (2012 est.)
Dialing code: 246
Currency: Barbados dollar
There is exchange control under the Exchange Control Act 1967, applying to inward investment, local borrowing by foreigners, and remittance of funds abroad, although these are gradually being relaxed by the Central Bank. Most types of offshore or nonresident entity and transaction are exempt from exchange controls. IBCs are exempted from exchange control regulations and books and records can be maintained in any currency.
Government: Parliamentary system, Constitutional monarchy.
Official language: English Language
English common law; no judicial review of legislative acts.
Corporate Legislation Acts: (.PDF Downloads)
International Business Companies Act (IBC Act) 1991.