Barbados Company Formation |
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If properly-structured, Barbados company formation allows global entrepreneurs to legitimately conduct international business exempt from tax. The following information will help you determine whether Barbados company formation is the optimum corporate structure to fulfill your international business objectives: |
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Advantages of Barbados Company Formation |
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| 1. | A properly-structured Barbados company pays a maximum corporation tax of 2.5% on all international income.
There are no capital gains taxes and no inheritance taxes. Dividends received and distributed by a Barbados IBC are also tax-exempt. In the 2012 Index of Economic Freedom by The Heritage Foundation, Barbados ranks well as having the world's 37th-freest economy, and scores at 45% in terms of investment freedom and capital flows. |
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| 2. | Barbados is positively perceived in international business. It rose from the 22nd least corrupt country in the world to the 16th least corrupt, according to the 2011 Corruption Perceptions Index by Transparency International. |
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| 3. | A minimum of one shareholder and one director is required for Barbados company formation, and they need not be resident in Barbados. Corporate shareholders and directors are permitted. Following Barbados company formation, shareholders and directors details are not available on a public register. |
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| 4. | Barbados company formation is cost-effective and fast. There is no minimum capital requirement to set up a company in Barbados (SRL – International Societies with Restricted Liability). |
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| 5. | Following Barbados company formation, it is not necessary to submit annual audited financial statements or tax returns. |
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| 6. | It is easy to open global corporate bank accounts to support Barbados company formation. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services. |
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| 7. | Foreign investors in Barbados are eligible for various investment incentives, notably for the manufacturing industry. These incentives include exemption from import duties, subsidized office space, and tax holidays. |
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| 8. | Barbados has double-tax agreements with 25 other countries (as of 2012), exempting eligible foreign investors from capital-gains tax. |
9. | After the submission of the required documentation, companies can usually be incorporated within 5 working days or less. |
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Disadvantages of Barbados Company Formation |
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| 1. | Barbados may be perceived as an offshore tax haven. |
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| 2. | Offshore banks, exempt insurance companies and foreign sales corporations are not eligible for Barbados IBC status. |
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| 3. | Following Barbados company formation, a registered office must be maintained in Barbados at which Articles, Bylaws, Minutes and Resolutions are kept. |
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| Contact Us | ||||
For additional information on Barbados company formation, email email@healyconsultants.com or telephone us at (+65) 6735 0120. |
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