Barbados is an excellent location for international business operations and is now considered to be one of the important centres for engaging in business for the export of services and goods.
Investors often feel more comfortable investing through an entity that is licensed to carry on a particular activity with appropriate incentives and these include the following:
The following facilities are also available:
Barbados is also an ideal location for reducing manufacturing or information processing costs, increasing profits, and benefiting from duty-free exports to major international markets. Among the advantages of establishing a manufacturing facility in Barbados are:
- 10-year tax holiday followed by 21/2 tax rate thereafter
- Exemption from import duties
- Full repatriation of capital, profits and dividends
- Low-cost, subsidised factory space available within 10 fully- serviced industrial parks
- Cash grants for worker training
- Cooperative and efficient customs service
- Free consulting services of the Barbados Investment and Development Corporation (BIDC)
- Official welcome from a government committed to private enterprise
- Low operating costs: savings of 40% or more
- Literate, skilled, trainable and productive workforce with low rates of turnover and absenteeism
- Economic, political and social stability and integrity
- Duty-free access to the U.S.A., Canada and the E.U.
Barbados has a well developed network of tax and bi-lateral investment treaties. The tax treaties in force are those with the Caribbean Community (CARICOM), Canada, China, Cuba, Finland, Norway, Sweden, Switzerland, the United Kingdom, the United States, and Venezuela.
Barbados participates fully in exchange of information. Exchange of information is carried out primarily through double taxation agreements and cooperation between regulatory authorities.
