International trusts must be set up by a non-resident and
its beneficiary must also be a non-resident of Barbados. There
are no minimum capital requirements for Barbados Trusts and
they can be either of fixed interest or discretionary. An
International Trust is taxed at 40% on its profits earned
in, or remitted to Barbados but there are no withholding taxes
or payments to non-resident beneficiaries.
The following details apply:
- the trust deed must specify that the International Trusts
Act applies
- at least one trustee must be a resident of Barbados;
- the settlor and the beneficiaries must be non-residents
of Barbados
- the assets of the trusts cannot include Barbados real
estate
The Offshore Banking act also provides for various special
trusts as follows:
- Purpose Trusts
- Asset Protection Trusts
- Unit trusts (mutual funds)
Contact a Barbados offshore management company:
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