Registering a business with Corporate Affairs and Intellectual Property Office (CAIPO)
All business entities, including external companies, must first register with the Corporate Affairs and Intellectual Property Office (CAIPO) in Barbados. Most types of business are governed by the Registration of Business Names Act, CAP317 and The Companies Act, CAP308. Many of these applications can now be submitted online.
“Many of the applications for the Corporate Affairs and Intellectual Property Office can now be completed online.”
Registering an unincorporated business
The procedure for registering an unincorporated business is simple and can be done within two business days.
First, you should conduct a company name search. This can be done online, or you can submit a Name Search and Reservation Form to CAIPO, listing at least two names in order of preference. The cost of a business name reservation is BDS$30 (US$15).
You then need to submit the registration form and once the name is acceptable, you will be issued with a certificate of registration which costs BDS$104 (US$52).
Incorporating a company in Barbados
To incorporate a company in Barbados, you need to submit an application and file the following documents with the Registrar of Companies:
- Approved name search and name reservation form (Form 33)
- Notice of address or change of address of registered office (Form 4)
- Notice of directors or notice of change of directors (Form 9)
- Articles of incorporation (Form 1)
- Declaration of attorney-at-law (where applicable)
If the company will be earning 100 percent of its income in foreign currency, you also need to apply for a foreign currency permit (FCP) from the International Business Unit. FCP holders are entitled to certain benefits.
Registering an external company in Barbados
An external company is defined by the Companies Act as one that is an incorporated or unincorporated entity formed under the laws of a country other than Barbados. To do business in Barbados, you need to submit the application for registration of an external company (Form 28) with the Corporate Affairs and Intellectual Property Office, and pay the application registration fee of BDS$3,000 (US$1,500).