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.
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