Choosing a Domicile - an Emerging Country Perspective
Like saplings pushing their way up from the forest floor, emerging countries around the world are eagerly seeking a space in the global economy. If they can claim their share of sunlight, their economies will grow quickly and their societies will benefit. However, such growth requires a favourable environment that offers affordable access to international markets.
To this end, business leaders in these emerging countries are scanning the globe in search of the right international business and financial services centre and, increasingly, their gaze is settling on Barbados.
Not surprisingly, given their geographical proximity, it is the emerging countries of Latin America that are examining the island most closely as a regional hub for both inbound and outbound investment.
Over the past 40 years, the island has built a well deserved reputation as a highly attractive jurisdiction for carrying on international business. Indeed, in structuring their international transactions and investments, multinational corporations have long made use of the tax advantages and other benefits created by the suite of corporate entities that Barbados offers. These entities include International Business Companies, International Societies with Restricted Liability, International Financial Services Companies, Exempt Insurance Companies and Qualifying Insurance Companies.
Written by Dominique Pepin, Managing Director, Tailored Tax Solutions & Maria Robinson, Country Managing Partner, Ernst & Young; Adapted from the 2015 edition of Barbados International Finance & Business magazine.
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