Barbados - Good For Business And Pleasure

Barbados is the most easterly island in the Caribbean. The east and south-east coasts are pounded by the rolling waves of the Atlantic Ocean, while the west coast, which faces the Caribbean Sea, is mostly caressed by calm blue waters where it is safe to swim, snorkel, and relax.

Barbados is a preferred destination of choice for many celebrities seeking privacy and a relaxed lifestyle.  Known for its stunning scenery and constant sunshine, the island boasts of an old world charm blended with the modern amenities offered in developed countries.  Several restaurants have copped coveted top awards for fine dining at leading international competitions.

Barbados is a prosperous country with a long record of political stability and unbroken democratic government.  The island prides itself in being one of the most advanced developing countries in the world.  It leads the pack in the quality of life it affords its citizens and residents.  The economy flourishes mainly on tourism with dependency on agriculture, manufacturing, International Business and Financial Services and general services.  

The high standard of education being offered has produced a trained workforce of professionals as well as skilled and unskilled labour.  Health services are provided by two major hospitals and some well equipped clinics which are recognized for their modern facilities and high quality care. The island has a highly developed infrastructure, with a good network of roads, a deep sea harbor, which accommodates large Cruise Liners and is the gateway to the sea for worldwide shipping.  The recently upgraded airport is regarded as one of the best in the region and is serviced by most international carriers including: British Airways, Virgin Atlantic, American Airlines, Air Canada, Caribbean Airways and several others.

There are no restrictions on nationals or non-nationals when purchasing land or Barbados property.  To make it even more attractive for non-nationals as property owners, the property transfer tax rate is now a low 2.5% on the excess of USD$62.5K of the acquired property value.

Barbados is also a reputable low tax jurisdiction with an extensive network of tax treaties which enhances the flexibility inherent in residence in the island.  Tax concessions granted to entities carrying on International Business from Barbados include a reduced tax rate of between 2.5 and 1%, no tax on capital gains, exemption from withholding tax on dividends, interest,  royalties and other income paid to non-residents, and no tax on 35%  to 65% of remuneration of qualified foreign employees in the International Business Sector (IBS).

Barbados offers the following incentives to IBS to facilitate the remittances of income and profits: exemption from exchange controls, no estate, Gifts or inheritance taxes, full refund of all Value Added (sales) Taxes and exemption from duties on imports.

Barbados welcomes you!  For additional information, please visit www.barbados.org.