Barbados IBC Fact Sheet

     
  Type of Company   International Business Company
  Type of Law   Common
  Shelf company availability   No
  Our time to establish a new company   Usually 5 to 7 business days
  Minimum government fees (excluding taxation)   US$500
  Corporate Taxation   Sliding scale of 1% - 2.5%
Depending on Income
  Double taxation treaty access   Yes
   
     
  Permitted currencies   Any
  Minimum paid up   US$1 of no par value
  Usual authorised  

$1,000

   
  Minimum number of directors   One
  Local directors required?   Yes if local mind and management is being considered
  Publicly accessible records   Yes
  Location of meetings   Anywhere however local preferred
   
  Minimum number of shareholders   One
  Publicly accessible records   No
  Location of meetings  

Anywhere however local preferred

   
  Local Company    Yes
 

Secretary Required

  Yes
  Accounts
  Requirement to prepare   Yes
  Audit requirements   Only if income or gross assests exceed US $2,000,000
  Requirement to file accounts   Yes
  Publicly accessible accounts   No
   
  Requirement to file annual return   Yes
  Change in domicile permitted   Yes
  Requirement to file annual tax return   Yes