Company Formation in Barbados

Roadmap in company formation in Barbados

How long does it take to register a Company in Barbados?

• 5-10 working days
• Can be done remotely in around two weeks

What are the steps to register a company in Barbados?

The registration process of a company in Company Formation in Barbados is very simple. The experts of LegalBison will assist you throughout every step of it:

1. Initial consultation and agreement
2. Payment of the full invoice
3. [IF REMOTELY]: Notarization of POA by client
4. Preparation of registration documents
5. Document signed at the notary
6. Official register validity: immediately

Taxes in Barbados

How high are the corporate income tax in Barbados?

A non-resident company is subject to tax only on income derived in Barbados. Some activities incur a withholding tax for specific kinds of payment from companies in Barbados:

• Interest 15%
• Royalties 15%
• Dividends from taxed profits 15%
• Branch profits. 10%

 

What Double-tax treaties has Barbados?

Double Taxation agreements exist with the following countries: Member States of the Caribbean Community, Botswana, Canada, China, Cuba, Finland, Malta, Mauritius, Norway, Sweden, Switzerland(Extension of United Kingdom Treaty), the United Kingdom, the United States of America, Venezuela Status: Q1 2021

Decide first

1. Do you want to buy a ready-made company or start a new one?
2. Do you want to deposit a share capital?
3. How do you want to organize the shareholdership of the company?

Documents to provide for company registration in Barbados

• Passport copies (a scan) of all individuals above, also beneficiary owner if applicable
• A Power of Attorney (in case of a remote company registration)
• Certified company documents (in case at least one of the shareholders is going to be a foreign company)

Information needed to get started company registration in Barbados

• 3 options of your desired name for the company and a company contact email address
• Names, addresses and emails of all shareholders and board members
• Short description of your companies’ activity

Remote incorporation in Barbados

• The whole incorporation process can be conducted remotely. No travel necessary. Notarization of documents is necessary
• A Power of Attorney (POA) from (all) partners is needed
• The POA is sent to you by us based on the services you want
• You have to certify the POA by a notary and in some cases legalize it by apostille (some countries need full legalization)
• Once you have the POA on your hands, we double-check, and you send us the original form (physical document!) via courier to our address
• Barbados is part of the Hague Convention of the Apostille

Accounting and auditing in Barbados

• Every company having a share capital is required to file with the Registrar an annual return and pay a renewal fee
• Reporting is mandatory

Residential requirements in Barbados

What are the residential requirements in Barbados?

• A non-resident company in Barbados only need a registered address

LegalBison offers help with all of the above requirements. We assist and are local on ground. Speak now for free with one of our consultants to get your business started.