Understand the Jurisdictions Setup Requirement Before Proceed Your Company Registration in Barbados
Barbados is an eastern Caribbean Island which can be reachable by both air and water. The country is mighty and thus attracting many foreign investors to expand their business here. The business-friendly environment of this country allows easy company registration in Barbados. Also, the history of Barbados and the strong economy has made Barbados a strong nation to support the investors who are willing to expand their business wings here. The registration process is very simple thanks to the team of 3E Accounting.
A Business Entity in Barbados
There are three different business entities which are operational in Barbados. Each body has a different requirement and thus depending on the business objective and scope, we can assist you in selecting the right business entity.
International business companies: To carry out a foreign trade, the company must obtain a worldwide license. This entity cannot trade within Barbados
Regular Barbados company: Obtain permission from the central bank to carry out your regular international trade.
Societies with restricted, limited liability: This entity is suitable for US investors as this company is legally disregarded for taxation. Further, to carry out international trade, one needs to obtain permission from international trade. While applying for Barbados corporate affairs and IP office, the following information must be submitted:
- Two company names must be proposed
- Names of the company’s director
- Registered office address in Barbados
- Details of the shareholders of the company
- Business details of Barbados
The Business Registration Process in Barbados
Unlike other countries, the company registration in Barbados is a quite simple process. The company must register with the Inland Revenue Board and apply VAT along with a certificate of incorporation to the customs and excise department. Depending on the type of business, you may have to obtain a license for carrying out business activities here. For example, to set up a food processing unit/childcare, you will have to get an operating permit from the ministry of health in Barbados.
Get Your Professional Consultant Today
Connect with 3E Accounting for professional guidance for company registration in Barbados. Our experience in this field will make the entire incorporation process very smooth. Look no further and contact us today through email and call. Contact us for more information.