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Barbados: Offshore Legal and Tax Regimes

Offshore Operations

The prohibitions on local activity applying to the different types of offshore entity are described in Forms of Company and Offshore Business Sectors; the following is a brief summary:

  • International Business Companies may manufacture for export and may trade in external goods and services; they can deal in Barbados freely with other IBCs; they may not deal with resident domestic banks;
  • Offshore banks can raise money externally but not domestically;
  • Exempt Insurance Companies cannot write domestic business;
  • Foreign Sales Corporations may not trade with resident persons;
  • Exempted Limited Partnerships and Societies with Restricted Liability can deal freely with other offshore entities, but may not do business with resident persons.

 

 

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