Why choose Barbados for financial services?
- Sound business legislation
- Supporting pool of experienced and qualified service providers
- Established and reliable networking infrastructure to support current financial transactions
- Globally recognised banks
- Expanding treaty network
- Excellent quality of life
While tourism is the mainstay of the Barbados economy, international business and finance is certainly a driving force, making a huge contribution. For decades, Barbados has had a thriving and resilient financial services sector. Several banks and numerous high net worth individuals (HNWIs) seeking wealth management solutions, have chosen
Barbados as their base from which to locate and operate. We have several foreign currency earning banks in Barbados, with many globally recognised names in the mix.
All financial institutions are licensed under the Financial Institutions Act, which provides for four classes of licences as follows:
- Class 1: Commercial Banks
- Class 2: Trust Companies, Finance Companies, Merchant Banks and money or value transmission service providers
- Class 3: Financial Holding Companies
- Class 4: Financial Institutions qualifying for a FCP