Business in Barbados
B
Barbados is open for business. The country offers a well-regulated, transparent and supportive environment for investment. Generally, there are no restrictions on foreign ownership of businesses or real estate, and the government works to make it as easy as possible for you to do business here.
We have a stable economy, with a strong legal system. Barbados also has the right people and institutional framework to make starting and running a business as straightforward as possible.
Read on for an in-depth look at why doing business in Barbados is the right move for you
Expanding
Treaty Network
Doing business in Barbados means you have access to the country’s international tax and investment treaties: double taxation agreements (DTAs), bilateral investment treaties (BITs), and tax information exchange agreements (TIEAs).
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Barbados’ double taxation agreements (DTAs) are expanding. This means as an investor who uses Barbados resident entities to do business in other countries, you can take advantage of:
- clarity on tax treatment on your income and gains from cross border investments
- reduced withholding taxes in the source country for certain types of income
- avoidance of double taxation on your income.
You will also have protection for your investment, because of Barbados’ bilateral investment treaties (BITs) which are in place to promote and protect investment.
And Barbados is committed to the implementation of the OECD’s Global Forum standard on transparency and tax information exchange, and has signed several tax information exchange agreements (TIEAs).
Well Regulated
We have a robust regulatory framework for doing business in Barbados. This is underpinned by effective legislation providing strict guidelines for governance, enforced by regulators in each sector.
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We have a robust regulatory framework for doing business in Barbados. This is underpinned by effective legislation providing strict guidelines for governance, enforced by regulators in each sector.
We haven’t reinvented the wheel in Barbados – instead we follow international best practice standards:
- The Barbados legal system is based on English common law. Property rights and intellectual property are well protected and an independent judiciary ensures the impartial resolution of disputes.
- Auditing and reporting meet international standards, ensuring confidence in business activities.
- Barbados also has a long tradition of transparency and intergovernmental cooperation on information exchange matters.
The main regulators are the Central Bank of Barbados, the Financial Services Commission, and the International Business Unit.
Real Estate &
Infrastructure
Barbados has everything you need to hit the ground running – the physical space for your business, and the infrastructure, utilities and connectivity ready to go.
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Barbados has you covered. We have ample commercial real estate available, whether you’re looking to buy a purpose-built unit, land to start from scratch, or lease a space in one of our well-planned industrial parks. Units are available for manufacturing, office or retail use.
You’ll quickly be connected and ready to go. Barbados has stable and reliable utility services including 110v/50 cycle electricity, modern fibre-optic network and high-speed 4G LTE data services.
And to physically connect with the rest of the world, our international airport has direct flights to the USA, Canada, UK and Europe, and our modern seaport will get your goods to their destination quickly and efficiently.
Political &
Economic Stability
You can be confident that your investment here is safe – Barbados is one of the most stable countries in the Caribbean.
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Barbados is a parliamentary republic with a long history of political stability. Transfers of power are peaceful with free and fair elections, enabling the effective management of the economy and giving confidence to the markets and businesses.
Barbados is a mature jurisdiction – a top choice for global business since the mid 1960s. We have a proven track record – just look at the success of businesses that have been established here, and choose to stay here.
In Barbados, business is conducted transparently and we do not tolerate corruption. Because of this, the country is ranked fourth in Latin America and the Caribbean, and 29th among 180 countries by Transparency International in their 2021 Corruption Perceptions Index. And all of this contributes to Barbados’ ranking in the 2021 Index of Economic Freedom as the 12th freest economy in the Americas.
Check out more of our international rankings here.
Human Resources
& Corporate
Services
We know your business needs people. In Barbados, you’ll have access to a talented and available pool of industry professionals – educated, experienced and ready to join your team.
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And our business support services are top-notch. We have experienced tax advisors, reputable international banks, global accounting firms, lawyers, management companies and more, offering the full range of corporate services.
The 2020 UN Human Development Report ranks Barbados eighth in the Americas and 58th in the world for educational attainment – measured by years of schooling and expected years of schooling. And we also boast one of the highest literacy rates in the world – 99.6 percent (2020 UN Human Development Report).
Creating an educated and employable workforce is a priority for the Government of Barbados. Each year Barbados has over 4,000 secondary school graduates and an average of 3,500 graduates from tertiary institutions. Around twenty per cent of the annual budget is spent on providing free primary, secondary and tertiary education. Read more about education in Barbados here.
