APPLICATION by the Director of Public Prosecutions of Barbados for a Terrorist Designation Order under section 8(1) (a) of the Anti-Terrorism Act, Cap. 158 (as Amended)

Downlaod the full deatails of Order CV 463 of 2021 (Without Notice Application)

The survey must be completed by a Director or Corporate Secretary who is reflected in the corporate records maintained at the Corporate Affairs and Intellectual Property Office. This questionnaire is administered pursuant to section 175 (5) of the Companies Act and its completion is mandatory for all companies and societies with restricted liability registered with the Corporate Affairs and Intellectual Property Office. ONLY 1 QUESTIONNAIRE SHOULD BE COMPLETED PER COMPANY/SRL.

This questionnaire only applies to incorporated entities. This means that persons with registered business names SHOULD NOT complete this questionnaire.

This questionnaire is divided into 2 sections and adopts a checklist format for ease of completion. All questions should be answered truthfully. If you are unsure of a question, please contact us at compliance.mibi@barbadosbusiness.gov.bb or 535-2401/535-7235 for further guidance.

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For FULL details please download Order CV 193 of 2021 (Iran)​

AND IN THE MATTER OF the United Nations Security Council Resolution 1718 (2006) and the related Sanctions Committee List with respect to the Democratic People’s Republic of North Korea (DPRK)

Download the Full details of Order CV 192 of 2021 (North Korea)

• An extension of time has been granted until April 30th, 2021 for companies to complete the online version of the questionnaire.
• CTSP’s may upload their CTSP licence instead of identification documents.

• A hard copy of the questionnaire will be made available on CA1PO’s website for ease of reference.

• Companies not submitting the online questionnaire by April 30th, 2021, will receive a formal request sent to the registered office, for the requisite information.
• The questionnaire relates to all companies incorporated, or societies organised, in Barbados. As such, external companies are not required to complete the questionnaire.

Dated this 17th day of March, 2021

Tamiesha N. Rochester
Registrar (Ag.)
Corporate Affairs and Intellectual Property Office
Corporate Affairs and Intellectual Property Office Ground Floor BAOBAB Tower
Warrens
St. Michael

Source: CAIPO

• IBU Legal Team

Break
Demonstration of the ESS system/CTSP’s Portal
IBU Regulatory Update

• Kevin Hunte,
• Robert Folkes,
• Sangene Watkins
• Shelley Blades

Lunch Break
ES Requirements Regulators Panel Discussion

• Kevin Hunt, Director, IBU,
• Kester Guy, CEO, FSC
• Graeme Stoute, Legal Officer BRA
• Jamar Arthur-Selman GM, Centralis & 1st
• VP BIBA (Moderator)

Registration is FREE
Click to Signup

Please be guided accordingly. 

Kevin A. Hunte 

Director, International Business

 
Feel free to download the details of how we are facilitating the application and delivery of certificates and permits for CTSPs here.

• All Grandfathered IBCs and ISRLs will cease to be so grandfathered after June 30^th
• All applications for the Foreign Currency Permit relating to the IBCs and ISRLs that were grandfathered and earn one hundred percent of their annual income in foreign exchange, must be submitted to the Ministry of International Business and Industry between June 1^st and June 15^th 2021 to ensure quick processing.
• All applications will attract the usual fee as prescribed in the Foreign Currency Permits Act.
• Where possible, applicants are encouraged to make payments utilizing Government’s EZpay Portal.
• All applications must be accompanied by all required documentation in support pursuant to the Foreign Currency Permits Act.
• All Foreign Currency Permits issued to these to be previously grandfathered entities will be dated July 1^st

Please be reminded that the economic substance requirements will be applicable to all of the now grandfathered IBCs and ISRLs from January 1^st 2021 providing that those grandfathered entities remain under the grandfathered regime for the remainder of 2020. Should any grandfathered entity surrender its grandfathered status between October 15^th and December 31^st 2020, the economic substance requirements will be applicable from the date of surrender.
Finally, kindly note that in order to continue to be eligible for benefits under the grandfathered regimes until June 30, 2021, please complete the Annual Form and pay the prescribed annual fee of (Bds$1,000.00) by December 31^st 2020. If the licensee fails to pay the prescribed annual fee by that time, the licensee should pay the prescribed annual fee (Bds$1,000.00) in addition to a pecuniary penalty for the late payment (equal in the amount of the annual fee $1,000.00) by 1st February of 2021. If the fee remains unpaid after 1st February of 2021, the licensee will not be considered as having its licence renewed and will no longer be under the rubric of the grandfathered regime.
 
Ministry of International Business and Industry
International Business Unit
October 15, 2020

Stakeholders in the industry have however been cautioned against complacency in their approach to manoeuvring the vital, but ever changing industry.

During an International Business Update Workshop on Friday hosted by the Institute of Chartered Accountants, Toppin, Minister of International Business, pointed to a number of measures taken by Government which resulted in the country’s removal from the EU’s Blacklist of non-cooperative tax jurisdictions in May this year.

He however stressed the improvement of business operations through innovation and technology that would be necessary to reinvigorate and diversify Barbados’ offerings in the industry.

This, he told the conference, would work hand-in-hand with Government’s promotion of transparency, compliance and effective enforcement of regulations for banks, insurance companies, intellectual property and distribution centres.

“We must also be in a position to enable the conduct and exchange of information in cases of non-compliance and high-risk cases. As you would be aware, the Barbados Companies (Economic Substance) Act 2018-41 was introduced and became effective on January 1, 2019,” said Toppin.

“It prescribes that companies involved in geographically mobile activities such as the banking business, insurance, fund management, finance and leasing, headquarters, shipping, holding companies, intellectual property and distribution and service centres, must have their business activities controlled, directed and managed from Barbados. They must also have an adequate number of employees, expenditure and physical assets relating to that activity and its core income generating activities have to be conducted in Barbados.”

Toppin predicted the new environment would eventually become a “catalyst” for the injection of tremendous investment in citizen development as well as the sector’s infrastructure.

“The obligation to implement substance in this jurisdiction represents opportunities for all of us, whether in relation to joint ventures or start-ups, the placement of technical and vocational students or university students.  It also presents opportunities for Barbados to offer non-traditional services to the world as we seek to become truly a global business hub,” he said.

Executive Director of the Institute of Chartered Accountants, Kathy-Ann Hewitt meanwhile commended Government for its improvements in the international business sector.

She however also cautioned against complacency in a sector where the goalpost is constantly shifting and encouraged stakeholders and regulators to continuously reinvent the industry’s products and structures.

“Not only are there changes in the legal and regulatory requirements of the countries from whom we want to attract business, but there is also competition for this business from many other jurisdictions,” she told the conference.

“In order therefore, for Barbados to retain existing, and continue to attract new business in this sector… we must continually monitor trends and look for new ways to expand our knowledge and stay ahead of the curve.”