About Barbados's Tax System
Barbados, located in North America, offers a worldwide tax system. Under a worldwide tax system, residents are taxed on their global income regardless of where it's earned. However, various tax treaties and exemptions may apply to foreign-sourced income.
With a corporate tax rate of 9% and a top personal income tax rate of 28.5%,Barbados offers a moderate tax environmentin our World Tax Index with an overall score of 64/100.
Tax Information
9%
9% Standard Corporate Tax, 5.5% Applies to small businesses with gross income of BBD 2 million or less. 15% (Minimum Effective Tax Rate) Applies to Large multinational enterprises (MNEs) with global revenue over €750 million are subject to a 15% rate through a Qualified Domestic Minimum Top-Up Tax (QDMTT). 0%-2% Corporate Tax Applies to certain insurance businesses.
28.5%
WorldwideTop marginal rate is 28.5%.
Economic & Investment Climate
Measures how often a country's tax regulations have changed over the last decade. Higher score means more predictable tax environment.
Indicates how independent the country's tax system is from global pressures. Higher score means more control over own tax policies.
A measure of the country's overall economic health and predictability, based on GDP growth, inflation, and sovereign credit ratings.
Reflects the safety and security of investments in the country, considering factors like legal protections for investors and political risk.
Based on perceived levels of public sector corruption. Higher score indicates a cleaner, more transparent business environment.
Rates the value of special programs offered, such as tax-free periods for new residents or designated economic zones. Higher score means more attractive incentives.
Investment & Residency Programs
Barbados offers residency programs for foreign investors looking to establish a presence in the country.
Minimum Investment
$2,000,000
Investment Type
Business Investment
Minimum Stay
Varies
Special Conditions
Citizenship can be applied for after 7 years of residency.
Barbados offers a Digital Nomad Visa for remote workers and freelancers looking to live and work from the country.
Visa Duration
1 year
Minimum Income Requirement
$50,000/year
Minimum Stay
No minimum
Special Conditions
Called the 'Barbados Welcome Stamp'.
Citizenship Pathways
Barbados offers citizenship through ancestry or bloodline connections.
Rule
Jus Sanguinis (Right of Blood)
Conditions
A person born outside Barbados is a citizen if either parent is a citizen of Barbados. Citizenship can also be claimed by descent from a Barbadian grandparent (double descent).
Barbados's policy on birthright citizenship.
Rule
Jus Soli (Right of Soil)
Conditions
Any person born in Barbados is automatically a citizen, with the primary exception being children of foreign diplomats.
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