Should You Form an Offshore Company in Barbados? Tax, Capital Gains, etc

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Barbados has been the best known tax haven for Canadians for the longest time. Many used to form offshore companies here and they profited from zero tax regime.

But what about Barbados today? Should you consider forming a company in this tax haven?
Their famous company structures were IBC (International Business Companies) and RBCs (Regular Business Companies).
For IBCs the more money you made the less taxes you paid. Later, due to the international pressure around offshore companies Barbados changed their rules and consolidated these 2 companies into one.
The new company type is starting at 5,5% tax rate, and goes down to as low as 1%.

So is Barbados a good option for you today? The answer is it depends who you are and what are your needs.
For some Barbados can still make a lot of sense, for others not so much.

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Author: Michael Rosmer

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