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Barbados continues to attract businesses of substance, both in the traditional sectors – including niche manufacturing, global insurance and banking, wealth management and information communication technology (ICT) – and in developing areas, such as international medical and education services, financial technology, health and wellness and renewable energy
Invest Barbados, the country’s investment promotion arm, outlines below several investment advantages that Barbados offers. These include:
Companies conducting business in Barbados have access to a talented English-speaking workforce, including tax advisors, lawyers, management consultants, accountants and other professionals. The workforce is well equipped to meet the needs of both our traditional and developing sectors, and the Government plans to further boost higher skills training for software/applications development. Reputable international banks and the leading accounting firms are also well established in Barbados.
Barbados boasts a history of political and social stability, encourages and facilitates foreign investment, with a well-defined legal system based on English common law. There are no restrictions on foreign ownership of business enterprises or real estate in Barbados, and no capital gains taxes are imposed.
Barbados continues to distinguish itself as a domicile of choice for global business through the expansion of its treaty network. This network gives investors operating in Barbados access to a number of partners in both traditional and emerging economies, greatly assisting in enhancing their global competitive advantage. Barbados presently has double taxation treaties in force with 40 countries.
The country has a well-developed infrastructure including an international airport offering direct daily flights to major cities and a modern seaport. An efficient ICT framework comprising a reliable fiber-optic network, Wi-Fi and 4G data services is available.
Barbados offers a safe and welcoming environment, which, together with its warm climate, recreational amenities, healthcare and educational institutions, make it a great place to live, work and play. The Economist Intelligence Unit’s Quality of Life Index 2017 ranks Barbados 5th in the Americas and 58th worldwide.
Barbados has had a long history of social and political stability. It has the 3rd oldest parliament in the British Commonwealth with a parliamentary system that has been in existence since 1639. Barbados is also seen as one of the region’s least corrupt countries, according to Transparency International’s 2019 Corruption Perception Index, which ranks it 4th in Latin America and the Caribbean, and 30th worldwide.
