background image
2.1. Main Formation Requirements

The establishment of a company in Barbados involves a number steps and requires registration/approval with multiple government agencies. The following outlines the basic requirements for establishment:

  • Submission of a minimum of two alternative company names in order of priority to the Corporate Affairs and Intellectual Property Office for verification and reservation - Name reservation is valid for 90 days
  • Submit complete application form along with the following documents to the Corporate Affairs and Intellectual Property Office:
    • Draft articles of incorporation
    • Notice of official office address in Barbados
    • Details of the business activities that will be conducted
    • Particulars of the directors
    • Particulars of the shareholders
    • Particulars of the company secretary appointed

Registration of the business typically takes 5 working days. Once approved, a company number will be assigned and certificate of incorporation will be issued.

After the registration process is complete the following steps must be taken:

  • Registration with the Inland Revenue Department for corporate income tax, including submission of the following documents:
    • Corporate income tax registration form
    • Copy of articles of incorporation
    • Copy of certificate of incorporation
  • Registration with the value-added tax (VAT) division of the Customs and Excise Department (if applicable), including submission of the following documents:
    • VAT registration form
    • Copy of certificate of incorporation
    • Bank references of the directors of the company
  • Registration with the National Insurance Scheme
  • Make company seal