An International Business Company is defined as a corporation that:
- Is resident in Barbados.
- Carries on a trade of buying or selling goods and services that exist outside of, and do not originate in, Barbados.
- Carries on trade of selling of services to non-Barbados residents.
- Carries on a trade of manufacturing products exclusively for export outside of Barbados.
- Is licensed under the International Business Companies Act.
- To establish an International Business Company
(IBC) a company must first be incorporated
under the Companies Act and then apply for and
obtain a license from the Minister of Economic
Affairs and Development.
- The application for the license must state the
general nature of the international business the
company proposes to conduct, a declaration that
the requirements of the International Business
Companies Act have been met, full details of
the shareholders and directors including the
resumes of directors.