Registering a company in Barbados is a step-by-step process that involves selecting a company type, choosing a name, preparing documentation, and registering with the Corporate Affairs and Intellectual Property Office and Barbados Revenue Authority. By following this guide and utilizing the provided resources, you should be well on your way to successfully establishing your business in Barbados. Be sure to adhere to the requirements and guidelines to ensure a smooth registration process and a successful start for your company in this beautiful and business-friendly island nation.
The first step in registering a company in Barbados is to choose the type of company you want to register. The most common types are:
Before registering your company, you'll need to choose a suitable name. The Corporate Affairs and Intellectual Property Office (CAIPO) has guidelines for acceptable names, which can be found at this link: https://www.caipo.gov.bb
Next, prepare the necessary documentation for your chosen company type. The key documents are:
These forms can be downloaded from the CAIPO's website: https://www.caipo.gov.bb
You will need to identify at least one director (for all types) or one representative (for Branch of a foreign company). Directors or representatives must be at least 18 years old. Shareholders can be individuals or corporate entities.
Barbados requires a minimum capital of BBD 2 (approximately USD 1) for Limited Liability Companies. There is no minimum capital requirement for IBCs, SEs, or branches of foreign companies.
Once your documents are ready, you can submit your application to the Corporate Affairs and Intellectual Property Office (CAIPO). This can be done in person at their office or online via the following link: https://www.caipo.gov.bb
The fees for registering a company are as follows:
After your company is registered, you must register for taxes with the Barbados Revenue Authority (BRA). This can be done in person at the local Tax Office or online via the following link: https://www.bra.gov.bb
Depending on your business activities, you may need to obtain additional permits or licenses. Check with the relevant authorities and industry regulators for specific requirements.
The entire registration process, from preparing documents to receiving your Certificate of Incorporation, can take anywhere from 2 to 4 weeks, depending on the complexity of your application.