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Barbados: Country and Foreign Investment

Business Environment

Barbados has a stable and well-organised business environment, with a reasonably diverse set of professional services reflecting growth of the financial sector in recent years. Telecommunications are modern.

Foreign investors and investment are welcomed (see below); the Barbados Industrial Development Corporation provides various types of assistance.

There is a wide variety of corporate forms available for most purposes (see Forms of Companies) and the legislative structure is flexible and liberal. Within offshore forms, taxation is very light; onshore, it can be quite high.

With high unemployment and a well-educated work-force, there is good availability of labour; but employment legislation is quite strict compared with many offshore jurisdictions, due partly to Barbados' troubled social history.

The Government's encouragement of the informatics sector means that there is better than average availability of computer services and professionals. Barbados is probably a good place in which to base e-commerce operations.

The level of privacy and confidentiality is only moderate (see Double Taxation and Other International Treaties). There are a number of routes by which foreign investigators can breach confidentiality; fiscal crimes are covered as well, unusually for an offshore jurisdiction.

 

 

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