International Business: International Trusts

Interactive Website Viewer

International trusts must be set up by a non-resident and its beneficiary must also be a non-resident of Barbados. There are no minimum capital requirements for Barbados Trusts and they can be either of fixed interest or discretionary. An International Trust is taxed at 40% on its profits earned in, or remitted to Barbados but there are no withholding taxes or payments to non-resident beneficiaries.

The following details apply:

the trust deed must specify that the International Trusts Act applies
at least one trustee must be a resident of Barbados;
the settlor and the beneficiaries must be non-residents of Barbados
the assets of the trusts cannot include Barbados real estate

The Offshore Banking act also provides for various special trusts as follows:

Purpose Trusts
Asset Protection Trusts
Unit trusts (mutual funds)

Barbados Investment and Development Corporation
As the industrial development agency of the Barbados Government, BIDC has special responsibility for promoting and facilitating the establishment and expansion of business enterprises in Barbados, and for promoting the export of Barbados' goods and services.

Contact a Barbados offshore management company:

Platinum Offshore Management Services