Invest Barbados



Establishing a Company 

 

It is strongly suggested that legal advice be sought to inform on the legal implications of establishing a  company or registering external company in Barbados.

The following information will be required in order to complete the incorporation:

 

1. The proposed name(s) of the company – a minimum of two corporate names in order of preference;

  

2. The official address in Barbados where the share registers, minute books and other statutory information will be kept. 

  

3. The minimum and maximum number of directors (a company can have a minimum of one director)

 

4. The full name (including the middle name) and residential address of each of the proposed directors of the company; 

  

5. Details of the particular business that the company proposes to carry on;

 

6. The classes of shares (if more than one) that the company is authorized to issue; and

 

7. The full name (including the middle name) and residential address of each shareholder of the company.

Processing of the incorporation documents typically requires five working days.

 

 

Typical Cost of Incorporation

  

The government fees associated with incorporating a company are approximately US$400. The average cost for professional fees associated with incorporation ranges from US$1,500 - US$2,800 but this will vary depending on the legal structure of the company.     

 

 

Registering an External Company  

 

The following information will be required in order to complete the registration of an external company:  

 

  1. Name of the company;
  2. Jurisdiction within which the company was incorporated;
  3. Date of its incorporation;
  4. Manner in which it was incorporated;
  5. Period, if any, fixed by its corporate instruments for the duration of the company;
  6. Extent, if any, to which the liability of the shareholders or members of the company is limited;
  7. Undertaking that the company will carry on in Barbados;
  8. Date on which the company intends to commence any of its undertakings in Barbados;
  9. Authorized, subscribed and paid-up or stated capital of the company, any number of shares that the company is authorized to issue and their nominal or par value, if any;
  10.   Full address of the registered or head office of the company outside of Barbados;
  11.   Complete address of the principal office of the company in Barbados (no P.O. Box address is allowed);
  12.   Full names, residential addresses and occupations of the directors of the company.

 

The following must also be provided to the Registrar:-  

 

  1. Statutory Declaration by two directors of the company that verifies on behalf of the company the particulars listed above;
  2. Certified copy of the corporate instruments of the company;
  3. Statutory Declaration by an attorney-at-law indicating that section 330(1) of the Companies Act  has been complied with;
  4. Power of Attorney and a Consent to act as Attorney, empowering some person named in the power and resident in Barbados to act as attorney of the company for the purpose of receiving service of process in all suits and proceedings in Barbados and all lawful notices.

   

Typical Cost of Registering an External Company

 
The government fees associated with registering an external company are approximately US$1,520. The average cost for professional fees associated with registering an external company ranges from US$1,500 - US$2,800 but this will vary depending on the legal structure of the company.

 

 

Establishing an SRL

  

Articles of Organisation


Investors wishing to set up a Society with Restricted Liability are required to file Articles of Organisation.  The following information is required when filing Articles of Organisation:

  

  1. The proposed name of the Society
  2. The duration of the Society
  3.  The registered office of the Society in Barbados
  4. The name and address of the Society's agent in Barbados
  5. The classes and any maximum number of quotas that the Society is authorized to issue.
  6. Restriction on transfer of quotas
  7. Restriction if any on business the Society may carry on
  8. Other provisions, if any

This process should take approximately five working days to be completed.

 

   

Typical Cost of Articles of Organisation

 
The government fees associated with filing articles of organisation are approximately US$400. The average cost for professional fees associated with filing articles of organisation ranges from US$1,500 - US$2,800 but this will vary depending on the complexity of structure.   For more information visit www.caipo.gov.bb

 

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