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Incorporate In Barbados

Price: 17,000.00 $

Introduction:

Set up a company in Barbados Barbados has been a popular jurisdiction for incorporating international businesses – especially for Canadians who enjoyed certain benefits under DTAs. However, the jurisdiction has also gone through several legislative amendments to avoid being classified as having a ‘harmful preferential tax regime’ by the OECD / EU. Under these amendments, the International Business Companies (IBC) Act has been abolished, and the Societies with Restricted Liabilities Act has removed preferences to International Societies with Restricted Liability (ISRL). IBCs and ISRLs licensed after October 17, 2017, have been converted to regular Barbados companies and societies, and are subject to local corporate taxation. Those incorporated and licensed before October 17, 2017, will be grandfathered until June 30, 2021 – at that point, they will need to be converted to regular Barbados companies. Note that Barbados companies earning 100% of their income in foreign currency would be able to apply for a Foreign Currency Permit under the Foreign Currency Permits Act, 2018, to avoid capital controls under the Exchange Controls Act. The Income Tax Act has been also amended. Since January 1, 2019, all Barbados entities, except those that are grandfathered are taxed on a sliding scale from 5.50% (for taxable income below BBD 1 million) to 1% (for taxable income over BBD 30 million). Previously, IBCs and ISRLs were subject to tax on a sliding scale between 2.5% and 0.25% and local companies were subject to tax at a 25% rate. Barbados Companies are powerful tools for international trading and commerce, manufacturing operations and holding company for investments in foreign subsidiaries.

Barbados Limited Company Formation and First-Year Fees – USD 17,000.00 (All included)

Note that our incorporation and annual corporate service fees are “all-included fees”, and cover all the required services to incorporate a Limited Company in Barbados, and keep it in good standing with the Corporate Affairs and Intellectual Property Office, as well as government fees and duties, disbursements such as courier fees, and assignments such as the preparation of a certificate of incumbency, and the notarization of documents, which are generally required for opening bank accounts.

All applicable Registration and Government Fees
Acting as the Incorporator of the Limited Company
Preparing the Articles of Incorporation and the Bylaws
Filing the Articles of Incorporation and Bylaws with the Registrar of Corporate Affairs
Providing Certificate of Incorporation issued by the Registrar
Preparing the Directors’ Resolution resolving the appointment of directors, allotment of shares, adoption of company bylaws and other related corporate matters
Preparing the Register of Shareholders and Register of Directors
Preparing the Share Certificates
Preparing and Executing a Certificate of Incumbency
Applying for and obtaining a Foreign Currency Permit
Providing Corporate Secretary Services for one year
Providing Registered Office Services, including business address, for one year
Providing Notarized and Apostilled copies of the Corporate Documents
Delivering Original, and Notarized and Apostilled copies of the Corporate Documents via Courier, inclusive of Courier fees

Time to form It generally takes us 1-3 days to prepare and file the Articles of Incorporation, as well as to prepare post-incorporation resolutions and other documents; and 1 to 5 business days for the Registrar to issue the Certificate of Incorporation/Formation.