The process of setting up an offshore company in Barbados is straightforward and affordable. The Advisor offers a step-by-step guide to help you through the process as well as offering free advice, feedback and access to important industry contacts throughout the entire process.
Step 1 – Initial Research
The first step towards setting up offshore is to do some initial research and the internet is a great place to start. In fact, if you are reading this, you are obviously on the right path. This site aims to be the #1 source of Barbados offshore information on the web. Hopefully you can find everything that you need to complete your initial research right here.
This site provides information on the great benefits and low tax rates available, as well as the qualification requirements and the costs involved. This information can help you decide if it seems like Barbados is the right fit for you and your business.
Step 2 – Get Evaluated
If it seems like a good fit or if you have some further questions, then you should take the next step and get evaluated.
The Advisor can help you with this step when you complete the Barbados Offshore Evaluation Form. You will receive free advice on your situation and answers to any questions that you may have. This valuable assistance can help you decide how best to proceed. Furthermore, the Advisor can share his international tax attorney contacts and recommend the right attorney for your needs.
Step 3 – Speak to an International Tax Attorney
Once you have been evaluated, it is time to get in contact with an international tax attorney in your home country about registering the right type of structure to satisfy all regulations and tax treaty obligations.
This is a very important step that ensures you can legally benefit by registering a Barbados offshore company and it must be done correctly. Therefore, it is essential that you speak to an international tax attorney who has experience in this area and has successfully set up similar companies.
The Advisor has contacts with international attorneys and can make recommendations as needed.
Step 4 – Register in Barbados
Once you have put the correct structure in place in your home country, you can register an offshore business in Barbados. This process is a relatively straightforward one. It is recommended that a Barbadian offshore attorney handle the registration on your behalf to ensure that all paperwork is filed correctly and that nothing is overlooked. The cost of having this done by an attorney is very reasonable.
The Advisor can recommend a leading local attorney to complete your company’s registration.
Step 5 – Running Your Business
Once your company structure is established in your home country and in Barbados, you are ready to get your business up and running. One of the major offshore qualification requirements indicates that “mind and management” must be located on the island.
Management and staff for the Barbadian company will be needed, as well as office space, furniture and computer equipment. If your operation will be a large one requiring many staff members, then it is worth having a local human resource consulting company find the right management and staff for your needs. Alternatively, you can send some of your current management and staff to the island to run the operation as necessary.
If your operation is smaller, requiring only part-time accounting and management services, then an offshore management service provider is the best solution for your company. This is an attractive option that combines management skills and international business experience with tightly controlled costs. A service provider fulfills all business functions including sales processing, vendor payments, payroll, banking, accounting and bookkeeping while providing financial reports to keep owners up-to-date on the operation. A provider will also work with the company’s auditors and attorneys to complete and file all annual paperwork and pay corporation taxes, keeping the company in good standing.
The Advisor has been running his own management service company successfully for over 19 years and is ready to serve all of your company’s offshore needs.
Reap the Rewards
Setting up a Barbados offshore company offers attractive rewards and benefits for the owners. However, uncertainty about the unknown may sometimes stall progress in making this offshore dream a reality. This should not be the case.
The Advisor aims to eliminate all obstacles and uncertainties that stand in your way by providing valuable information on the website, offering free advice and sharing his network of international tax attorneys and contacts to put your business in safe hands.
Having the right people on your side ensures that your company will be poised to reap the rewards when you set up offshore in Barbados.