Eternity Law International News Offshore company Barbados

Offshore company Barbados

Published:
October 6, 2020
The cost of registration1 000.00 USD
The cost of renewal850.00 USD
Number of Directors1
Corporate tax0.00%
Paid up capital0.00
Requirements for mandatory reportingNo

Barbados is a small island, with a total area of 450 square kilometers, located in the Eastern part of the Small Antilles ridge.

Like many other areas in the region, Barbados is under UK jurisdiction and has the constitutional-monarchical system of government.

The nominal head of state is the British Queen, but the local authorities are entrusted to the General-Governor of the island.

This country is known not only as a resort but also as one of the largest offshore areas, characterized by low taxes for foreign companies.

FEATURES OF THE COMPANY REGISTRATION

Barbados offers registration of a company in three forms of ownership.

The most common are the limited liability company. You can also choose the organization of mutual insurance or the society without share capital.

The last option is available for businesses engaged in charitable work.

To register a company in Barbados you will need to approve the charter of the company and provide such documents as:

  • the statement in the prescribed form;
  • agreement of the founders;
  • address of registration;
  • information about the managers.

Barbados guarantees the total privacy of shareholders. In accordance with the applicable legislation of the territory, the organization must have at least one shareholder (whether a natural person or legal entity).

EXISTING AND MISSING TAXES

Speaking of the existing taxes, they include income (tax law provides the rate of 20%) and VAT. You will also have to pay the land fees and taxes for the implemented property. If the total amount of implementation will exceed 125 000 units of local currency, the rate will be 2.5%.

Speaking of the missing taxes, there is no need to pay taxes on capital gains. Also, you do not have to make payments in case you get inherited property or receive it as a gift.

The companies registered on the island of Barbados, must keep tax records and provide declarations to regulatory authorities. However, if the total profit reaches the level of $500 000, the company is not required to conduct an annual audit.

If you need to register an offshore company in Barbados, our specialists will help you quickly and professionally register a company in Barbados. Also, you can buy a ready-made company in Barbados. Write to us in the CRM form and we will help you register the company in Barbados.

Eternity Law International specialists will provide you with qualified advice on acquiring an offshore company, opening a bank account in any jurisdiction, and further accompanying your company’s activities at any stage of the work.

We offer ready-made European and offshore companies — re-registration of documents for new owners takes 2 days.

If you have any questions or need advice on how to register or purchase a company, call us on the numbers on the site or write to us at the CRM form at the bottom of the page, our specialists will answer you online.

You can order Offshore company Barbados now!

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