Cost of registration | The cost of the second year | Number of Directors | Corporate tax rates | Payment of Charter Capital | Financial statements |
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1050.00 USD | 900.00 USD | 1 | 1-5.5% | 0.00 | Yes |
Registration of a company in BarbadosBarbados is a country located in the Lesser Antilles of the West Indies, it is bordered by the Windward Islands and the Caribbean Sea, Saint Lucia, Saint Vincent and Grenadines, Martinique and north east of Trinidad and Tobago. The capital of Barbados is Bridgetown (it is also the largest city in Barbados), the population of Barbados is over 280, 000 people with English and Bajan creole as its official languages. Barbados is ranked as one of the leading tourist destinations as it is considered part of the Caribbean islands. The official currency of Barbados is the Barbadian dollar (BBD). The government of Barbados is that of unitary parliamentary constitutional monarchy. Barbados is a member of the Commonwealth of nations, world trade Organization, Caribbean Community (CARICOM), Organization of American States (OAS) and Caribbean Court of Justice (CCJ). The legislative framework regulating the activities of the company is the Companies Act 1982. Benefits of Company Formation in Barbados
Business in Barbados: Taxes
Business in Barbados: Types of Companies
To register a company in Barbados, it is necessary that the company's activities meet the following requirements:
Bookkeeping in BarbadosAnnual financial return - Yes. Annual audit - No. Annual tax return requirements - No. An audit is only required if the profit gained by the company exceeds US$500,000. Company Formation Requirements
How to Register a Company in Barbados: The Registration ProcessStep 1. Law and Trust works with the client to get the company’s name and activity approval from the Companies Registry; Step 2. Law and Trust works with the client to secure the Memorandum of Association (MOA); Step 3. Law and Trust collects, prepares and files the necessary incorporation documents on behalf of the client to the relevant authorities for approval; Step 4. Law and Trust works with the client to open a corporate bank account in Barbados; Step 5. Law and Trust deliver the certificate of incorporation personally to the client or via courier service. Barbados Company Formation FAQsHow long does it take to register a company in Barbados? It takes from six weeks to complete the company registration process in Barbados. Do I need a local address to register a company in Barbados? Yes, it is required to have to a registered local address in Barbados to complete the necessary company registration and formation process. Do I need a local registered agent to register a company in Barbados? Yes, a local registered agent is needed to complete the company registration process in this jurisdiction. How can I register a company name in Barbados? The registration of a company name begins with the filing of the appropriate documents, Law&Trust helps with preparation and compilation of the necessary documents ensuring it meets the requirements set out by the Companies Registry with regards to the approval of a company name. Why Incorporate with Law&Trust International?Benefits of company registration, formation, and incorporation services with Law&Trust International in Barbados include: Full range of related services: Provision of a full range of legal, corporate, government, and business intelligence related services in Barbados. A detailed overview of our services includes full legal support of the company registration procedure, obtaining a legal address, interaction with the official government authorities of the jurisdiction, state fees, legal address of the company for a year, production and registration of company stamps and advising the client as part of the registration process. Opening a bank account and the cost of these services are discussed during the consultation. Professionals and expertise of Law: Worldwide registration and legal maintenance of companies, accounting services, and audit, tax planning and optimization, trademark and patent registration. Law and Trust provide clients with the best company incorporation services. Domestic service: Law&Trust ensure our services cover every region, area or state in Barbados. Be rest assured that no matter where the new company intends to incorporate in Barbados, we’ve got the location covered. Free initial advice: Free consultation from the lawyers of Law&Trust International regarding strategies or the provision of services for analyzing and developing a legal position on an issue the client raises in Barbados. Confidentiality: Law&Trust makes use of modern technological features to keep the records and details of every client safe. Efficiency and productivity: Strategically providing up to date personalized services to help your business succeed. Ready for Company Incorporation?If you are interested in registering and incorporating a company in Barbados, contact Law & Trust International by simply sending an email or call now to take your business to the next level! |
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Square | 430.00 |
Population | 287 733.00 |
Capital | Bridgetown |
Unemployment | 26.20 |
State polity | Parliamentary democracy |
Telephone code | 1 246 |
Place in the world in corruption | 16 |
location | Caribbean basin |
Climate | Tropical; rainy season (June to October); avg. maximum temperature (August) +30°; avg. minimum temperature (January) |
Literacy rate | 99.70% |
Ethnic groups | Black 90%, white 4%, Asian and mixed 6% |
National currency | Barbados Dollar |
USD exchange rate | 2.00 |
GDP per capita | 56 |
Official language | English |
Credit rating | BBB |
The judiciary | The Supreme Court consists of the High Court and Court of Appeal |
Executive authority | Head of government: Prime Minister. Cabinet of Ministers appointed by the Governor General on the advice of the Prime Minister |
Legislative authorities | bicameral Parliament: the Senate (21 seats), House of Assembly (30 seats) |
Opportunity to purchase ready-made companies | No |
Legal system | Based on English Common Law |
The use of the Cyrillic alphabet in the name | No |
Local registered office | No |
Indication of BPA in the name | Limited, Incorporated and Corporation or Ltd, Corp and Inc. The Barbados LLC is known as an SRL, Society with Restricted Liability. |
Local registered agent | No |
Standard currency | Barbadian dollar |
The minimum amount of the issued capital | No |
Bearer shares | No |
The usual size of the authorized capital | 50000 |
Possibility to issue shares without par value | No |
VAT | No |
Basic corporate tax rate | 1-5.5% |
Capital gains tax | No |
Currency control | No |
Corporate tax rates details | Taxable income: up to 10,000 BDS $ '000 rate 2.5%; 10,000 - 20,000-2.0%; 20,000 - 30,000-1.5%; more 30,000-1.0%. Updated February 2018: Rate is 25% for regular business companies; 5% on life insurance businesses; and 0.25%-2.5% for International Business Companies, International Societies with Restricted Liability and international banks. Branch profits tax of 10% also levied. |
Stamp duty | No |
Minimum number of directors | 1 |
The requirement for residency directors | No |
Director of legal entities are allowed | Yes |
The data reveals to the local agent | No |
Data field to the public registry | No |
The requirement for the presence of the Secretary | Yes |
Requirement to the residense of the Secretary | Yes |
Requirements to qualification of the Secretary | No |
Legal entity as the Secretary | No |
Minimum number of shareholders | 1 |
Data is entered in the public register | No |
Shareholders residency requirement | No |
Information about the beneficiary is disclosed | No |
Information may be disclosed to the local agent | No |
Shareholders-legal entities are acceptable | Yes |
The requirement for filing reports | Yes |
Open access to reports | No |
Statutory audit | No |
The requirement for filing Annual Return | No |
Open access to the Annual Return | No |
The requirement for reports | Yes |
Treaty on avoidance of double taxation (States which signed) | 12 |
Membership in the OECD | No |
Is it offshore according to Russian legislation | Yes |
TM Comprehensive Study | TM Registration Request | TM Registration Certificate | Total | ||||
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First Class | Additional Class | First Class | Additional Class | First Class | Additional Class | First Class | Additional Class |
270.00 | 270.00 | 1350.00 | 1350.00 | 0.00 | 0.00 | 1620.00 USD | 1620.00 USD |
«TRADEMARK» refers to «Wordmark», «Logo» or «Wordmark + Logo» | |||||||
Prices include all professional and official fees. If the change of official duties or exchange rates prices may vary. The Trademark Registration Price considers an average estimate price for publications; if a larger image or longer item description is needed, an additional fee may apply. Final publication costs are not known until after expiry of the opposition period (90 days after publication). |