Barbados Wealth Management
Barbados offers a complete range of wealth management services including international investment advisory and full-service securities brokerage options. Barbados offshore investors have access to all of the services and investment products that they are familiar with in their home country coupled with the added perk of low tax rates, strong protection and privacy.
As a jurisdiction, Barbados continues to be attractive to both high net worth individuals and institutional investors. The island offers a number of offshore company types giving investors the flexibility and protection that they are seeking. As a respected and regulated jurisdiction, there are many Barbados tax treaties in place with over thirty countries including Canada, U.S., U.K. and many more.
Wealth Management Providers
Barbados boasts many first-class, wealth management providers that offer a full-suite of products including private banking services, international investment advisory services, international brokerage services, wealth structuring and trust services.
The leading Canadian offshore banks that offer wealth management solutions in Barbados include Scotia Private Client Group, RBC Wealth Management and CIBC FirstCaribbean International Bank. The available options are not limited to these players either; there are many other private banks with global reach that offer a full range of investment services to their clients.
With the many options available, it is highly advisable to conduct initial research and schedule meetings with the various managers to find the best match depending on the needs of the individual, business or institution. The Advisor has spoken with many of the Barbados offshore wealth management companies and has contacts at most of them. In addition, previous research on behalf of our clients has led to an understanding of the various rates charged by each institution.
If you would like to learn more about the choices available and receive some assistance in narrowing down the best options for your particular needs, feel free to contact us for more detailed information regarding the service fees charged by the various wealth management institutions.
Barbados Fiduciary Services
Barbados offshore wealth managers are very knowledgeable about the various company structures available to minimize the international tax burden of their clients. The managers operate internationally and have a strong understanding of the domiciles and jurisdictions that are best utilized depending on the client’s particular needs.
Barbados offers a variety of trust structures that provide clients with flexible options to meet all of their planning needs including asset protection, charitable purposes, tax minimization and estate planning.
In addition to trusts, International Business Companies (IBCs) are the most popular offshore company structure utilized on the island. IBCs offer low tax rates of 2.5% or less on income, capital gains are tax exempt, and there are no withholding taxes on dividends, interest, royalties or management fees.
Barbados Investment Management Services
All of the major wealth managers work with their clients to determine their ideal investment profile based on the client’s objectives combined with their risk tolerance, investment horizon and liquidity needs. Portfolios are then created by selecting a mix of funds from international fund managers who best fit with the client’s needs. By doing so, the portfolios are effectively diversified across asset classes and investment styles, as well as across geographic regions and varying market capitalizations. The assembled portfolio is as individual as the client and can lie anywhere along a continuum ranging from capital preservation to aggressive growth.
Brokerage services are also available with access to all major international exchanges for investors who prefer to make their own picks and have their broker execute the necessary trades.
Most investment management companies offer clients online access to their investment accounts. These services provide access to reports, providing users with improved accessibility and transparency.
International private banking is also available. Account balances can be held in most major currencies including USD, CAD, GBP, EUR and BBD as preferred. The money held in these accounts can be transferred around the world conveniently and quickly as there are no foreign currency exchange controls in place on these international accounts.
Barbados Wealth Management: An International Leader
Barbados is a leading international business jurisdiction and was recognized as such when it became the only independent Caribbean offshore jurisdiction to be included on the OECD’s original “White List”.
The island offers low tax rates combined with a wide selection of offshore company structures and a substantial number of international tax treaties. The island’s wealth managers also boast access to all major exchanges worldwide as well as an extensive international network of leading investment fund managers.
These features make Barbados a leading choice for both wealthy individuals and businesses that want to minimize the international tax burden on their investments while maintaining access to global markets and investment opportunities.