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Non-Insurance Services

International Expertise

In Barbados, The Towner Management Group manages both International Business Companies (IBCs) and Societies with Restricted Liability (SRLs). The latter is similar to a limited liability company in the U.S.

 

TMG professionals are expert on a wide range of issues facing companies licensed or incorporated in Barbados, and we provide a full range of administrative, compliance and accounting services to help our clients succeed. As one of the world's leading independent management companies, Towner Management delivers solutions that meet your most difficult business challenges.

 

Wide-Ranging Experience

As Barbados' largest manager and an expert on the country's business benefits, Towner Management works with companies from a wide variety of industries, from retail, manufacturing and telecommunications firms to medical, mining and technology concerns. We work as easily with public, multinational companies as with privately held firms. Our global portfolio, which includes Fortune 500 clients, is a testament to the value we deliver.

 

The Barbados Advantage

Thanks to attractive legislation, which is considered a model for international business centers, and an experienced and well-trained workforce, Barbados is a world leader in attracting IBCs and SRLs. One of the leaders of this robust business sector in Barbados is Towner Management.

 

The island has one of the world's most favorable tax codes for licensed companies that gain most of their profits outside Barbados. Key advantages include:
 
  • An attractive sliding income tax scale ranging from 1% to a maximum of only 2.5%;
  • No withholding tax required;
  • No minimum capital requirements;
  • No capital gains tax or other related estate levy;
  • No taxes on dividends, interest, royalties or goods imported for IBC and SRL businesses;
  • Other tax concessions for specially qualified persons, as defined in Barbados law;
  • Competitively low licensing and annual fees;
  • No requirement of local directors;
  • The ability to keep records in foreign currency;
  • Freedom from exchange controls;
  • Duty-free access to the United States, Canada and European Union countries.

 

Multiple Tax Treaties

U.S. Companies were among the first to discover the cost advantages of doing business from Barbados, thanks to early reciprocal tax treaties. Since then, Barbados has signed double tax treaties with Switzerland, Sweden and Finland, while regularly working to add new countries. Currently, Barbados’ most beneficial and frequently used treaties are with Canada, Caricom, China, Venezuela and the United Kingdom.

 

Special Note: Although Canada and Barbados do not have a double tax treaty that applies to IBCs, dividends from earned income paid to a Canadian company from an active Barbados business are not subject to Canadian tax.