Commercial And Business Laws
Generally, business dealings which encourage public disorder or consist of offences against public decency are prohibited. Casinos are not permitted, but there are two authorised lotteries. The Government of Barbados focuses heavily on improving the investment climate of Barbados and on enhancing the infrastructure to support increasing business activity. The Government's policy is to support productive investment. There are therefore no restrictions on foreign ownership of business enterprises and bureaucratic requirements are kept to a minimum. The investor's liability to partners, investor or others will depend on the nature of his business. For example, as a limited partner his liability will be limited to the amount of his capital. In relation to capitalisation, all foreign investment is subject to the approval of the Government (usually the Minister of Industry, Commerce and Business Development or the Minister of Finance) and the influx of finances to service any entity by foreign currency must be declared to the Exchange Control Authority at the Central Bank of Barbados. Barbados is known for its well developed network of tax of bi-lateral investment (tax) treaties. Investors can enjoy incentives such as foreign currency tax credit mechanisms, tax concessions for informatics service companies and low tax rates when an international export business is conducted by Iicensed international business companies, licensed international financial institutions and international societies with restricted liability. Some investors can also benefit from exemptions from withholding tax on payments made to non-residents and exemptions from import duties and tax on capital gains.In This Section
Property Law
Fee simple absolute property ownership is permitted in Barbados. For land still under the common law system, a deed is used to convey ownership of real estate. Â A deed will be construed as conveying the entire estate or interest that …
Insolvency And Restructuring
Insolvency/Bankruptcy The Companies Act Cap 308 makes provision for the insolvency and/or liquidation of a company incorporated or continued under the Companies Act. The Regulations of the Companies Act specify that all taxes of every description due from the company …
Franchises
The Franchises (Registration and Control) Act, Cap I79A (the “FRCA”), provides for the licensing, registration and control of businesses which operate on franchise in Barbados, and for related matters. Certain provisions of the FRCA are highlighted here. A franchise is …
Foreign Investors
The Central Bank of Barbados was established in May 1972 by the Government of Barbados to advance the pace of economic development in the country. Prior to 1972, the East Caribbean Currency Authority (“ECCA”) was the institution responsible for the management of monetary matters for most of the smaller Eastern Caribbean countries, including Barbados.
Employment And Industrial Relations
In Barbados, the Severance Payments Act is most analogous to the Baby WARN Acts within the United States. The Severance Payments Act provides payments to employees who have been laid off by their employers. While Baby WARN Acts tend to …
Environmental Considerations
Barbados is a small island state whose economy relies heavily on tourism and foreign investment; as a result, care of the environment is high on the Government’s agenda. The Government provides a free garbage collection service to all households in …
Consumer Protection Laws
The Consumer Protection Act Cap 326D makes provision for the protection and safety of consumers and for connected purposes. The Consumer Guarantees Act Cap 326E amends the law relating to consumers upon the supply of goods or services, and the …
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Clarke Gittens Farmer
http://clarkes.com.bbSend Email
Clarke Gittens Farmer is a commercial law firm, providing legal services for both domestic and international corporate and private clients. The firm has a reputation for high quality work in banking, corporate, commercial and business law areas. Corporate and commercial services include advising international and local clients in banking and financial transactions, securities law and insolvency issues. The firm is the Barbados member of Lex Mundi, the world's leading association of independent law firms.
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