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Barbados Wiki information

Barbados is a sub-tropical island in the Caribbean; it is a member of Caricom, the Caribbean Common Market. Barbados has preferred quality to quantity, and has developed a remarkably wide range of offshore formats to suit all tastes! A good US tax treaty and the Foreign Sales Corporation legislation (now repealed) have particularly encouraged US interest; Canada has also been a traditional partner. The offshore insurance sector is as big as the BVI's, and there are 57 offshore banks.

List of Barbados Banks
Offshore Bank in Barbados.

 

Bank of Nova Scotia

1st Floor, CGI Tower
Warrens
St. Michael
Tel.: 246 431 3100
Fax: 246 421 7110

Barbados National Bank Inc.

Independence Square
Bridegetown
Tel.: 246 431 5700
Fax: 246 429 2606

Butterfield Bank (Barbados) Limited

The Mutual Bldg.
N� 1 Beckwith Place
Lower Broad Street
Bridgetown
Tel.: 246 431 4500
Fax: 246 429 5734

First Caribbean International Bank (Barbados) Ltd.

Barbados Head Office
Warrens
St. Michael
Tel.: 246 367 2300
Fax: 246 424 8977

RBTT Bank (Barbados) Ltd.

Lower Broad Street
Bridgetown
Tel.: 246 431 2500
Fax: 246 431 2530

RBC Royal Bank of Canada

Broad Street
Bridgetown
Tel.: 246 467 4000
Fax: 246 427 8393

DGM Trust Corp.

Chamberlain Place
Broad Street
Bridgetown
Tel.: 246 427 6364
Fax: 246 425 4944

Signia Financial Group Inc.

1st Floor, Carlisle House
Hincks Street
Bridgetown
Tel.: 246 429 7344
Fax: 246 434 0057

 

Alongside a really large selection of corporate formats, Barbados has many different taxes. Although the introduction of VAT in 1997 got rid of eleven of them, there are plenty left, and for a resident person rates are quite high. The structure of manufacturing and other incentives is complex, but properly used can reduce the tax burden substantially. It may be that fewer, simpler taxes would be beneficial; anyway, an offshore business will be able to avoid all taxation in one way or another.

In July 2000, Barbados pledged to make changes to its financial supervisory regime in order to have its name removed from an OECD blacklist; in February, 2002, shortly before the OECD finally published its long-delayed revised list, Barbados was removed.
 

 

 

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History of Offshore Bank Accounts.  - What is an offshore bank? - Offshore Banking Myths - What is bank account?

Who can legally open and hold an offshore account? - Where should an offshore account be established? - Who can benefit by putting their money offshore? - Is it convenient to use offshore banks? - What are some of the general advantages of banking offshore? - Do I have to pay income tax on income I've earned offshore?

How do I open and access an offshore bank account? - Is there any restrictions regarding citizenship? - In which currencies can I open offshore account? - What is the minimum deposit required to open an offshore account? - What documents are required for the opening of a bank account? - How long does it take to open a bank account? - Who will control my bank account? - Is my bank account guaranteed when I pay your fee? - What happens, if a bank declines my account application?

Is offshore banking safe? - Am I guaranteed absolute privacy and confidentiality from an offshore bank? - Can I view my offshore accounts and investments online? - Can I get cards to access my money with an offshore account?

What is saving account? - What is deposit account? - What is current account? - What is numbered account? - What is bank secrecy? - What is private banking?

 


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