Frequently Asked Questions about Barbados

Is it easy to open a corporate bank account in Barbados?
It is very easy to open a corporate bank account with a reputable international bank in Barbados.

Am I required to visit Barbados to incorporate a company there?
No. Healy Consultants can legally incorporate your Barbados company without you needing to travel.

What is the minimum number of directors required for a Barbados company?
A Barbados company needs a minimum of one director.

Is a resident director required?
A resident director is not required.

What is the minimum number of shareholders required for a Barbados company?
A Barbados company requires a minimum of one shareholder. Corporate shareholders are also permitted.

Are shareholder/director details available for public viewing?
No.

What are the minimum capital requirements for a Barbados company?
There is no minimum capital requirement to set up a company (SRL – International Societies with Restricted Liability) in Barbados.

Do I need to maintain a registered office in Barbados?
Yes, a registered office must be maintained in Barbados. Furthermore Articles, Bylaws, Minutes and Resolutions should be kept.

Is a Barbados company required to submit an annual return and/or financial statements?
No, a Barbados company is not obliged to submit an annual tax returns and audited financial statements.

How much tax does a Barbados company pay?
A properly structured Barbados company pays a maximum corporation tax of 2.5% on all international income. Dividends received and distributed by a Barbados IBC are also tax-exempt. In addition there are no capital gains taxes and no inheritance taxes.

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