Societies With Restricted Liability (SRL)
The Societies with Restricted Liability Act also offers investors the opportunity to take advantage of Barbados` network of tax treaties.
An SRL may be recognized as a corporation or a partnership, with existence limited to 50 years. SRL`s are similar to a LLC in the USA, using the "check the box rules."
Major Points of the SRL:
International SRL`s are designed for use in international transactions and are treated as an IBC for the purposes of taxation and other tax concessions.
- Limited liability
- Maximum tax rate of 2.5% and minimum of 0.25%
- Foreign tax credit (conditional)
- No exchange controls
- No capital gains tax
- No estate duty
- No minimum capital requirements
- Import duty concessions
Advantages of Having an Offshore Entity in Barbados
- Low taxes
- Excellent telecommunications systems
- Professional service providers
- Highly-educated workforce
- Well-established banking system