Foreign investment is highly welcomed in Barbados and participated in due to low taxes especially for offshore firms.
Examples:
Full exemption from taxes on corporate profits for fifteen years for export-only manufacturing companies;
Special tax rate for export industries of only 2.5% after the expiration of the tax exemption period;
Tax rate of 1% - 2.5% on profits of Information Services companies;
Full exemption from import duties on components, raw materials, production machinery and other production related equipment such as computers and spare parts;
Expedited customs clearance procedures with minimal paper work and no delays;
Full and unrestricted repatriation of capital, profits and dividends.
Persons can contact Barbados Investment and Development Corporation (BIDC) for more information.
The current Corporate flat Tax Rate is 25%...where there are exemptions for International Business Companies (1-2.5%) for instance.
The labour force in Barbados is vast, due to the unemployment rates being a bit high. There are many students leaving The University of West Indies with qualified degrees, who would gratefully appreciate a job to excel their careers. Many times persons who have Applied Science degrees such as Maths and Physics have no options in their field to grow. This could be a great opportunity for any international businesses to enter this market within this field.
This website offers detailed information on registering a company in Barbados. http://www.caipo.gov.bb/corp/inner/companies.html
Moving to Barbados
