Barbados Company Formation

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ENGAGEMENT COSTS

Year 1 incorporation US$4,000*

Annual fees from Year 2 US$2,500 *

Nominee director fee
US$1,800**

Company de-registration
US$1,450

*Includes government licence fees and legal registered office for 12 months.

**Excludes US$1,100 refundable deposit,

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:

Advantages of Barbados Company Formation

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 2010 Index of Economic Freedom by The Heritage Foundation, Barbados ranks well as having the world's 40th-freest economy, and scores at 45% in terms of investment freedom and capital flows.

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.

Barbados company formation is cost-effective and fast. The minimum capital requirement for for Barbados company formation is US$1.

Following Barbados company formation, it is not necessary to submit annual audited financial statements or tax returns.

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.

Barbados is positively perceived in international business. It rose from the 22nd least corrupt country in the world to the 20th least corrupt, according to the 2009 Corruption Perceptions Index by Transparency International.

Disadvantages of Barbados Company Formation

Following Barbados company formation, a registered office must be maintained in Barbados at which Articles, Bylaws, Minutes and Resolutions are kept.

Offshore banks, exempt insurance companies and foreign sales corporations are not eligible for Barbados IBC status.

Barbados is perceived as an offshore tax haven.

Considerations for Offshore Company Formation

Offshore companies can be an excellent, tax-efficient vehicle for entrepreneurs to conduct their international business. When selecting an offshore jurisdiction, it is important to evaluate variables such as i) its international reputation for conducting business, ii) legalities that govern investor activity iii) the stability of its economy iv) the political stability of the market.

While offshore corporations can have the significant advantage of legitimately minimising tax obligations, there can also be the disadvantage of carrying the tax haven stigma associated with some jurisdictions. More information on Healy Consultants offshore company services can be found on the following pages:

Offshore company incorporation

ii)

Offshore company set up

iii)

Offshore Company registration

iv)

Offshore Tax Planning

Investing Offshore

Contact Us

For more information on Barbados company formation, email email@healyconsultants.com or telephone us at (+65) 6735 0120.

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