Barbados is an independent Caribbean island nation with a developed economy. The capital is Bridgetown. Facilities for tourism are widely available. The U.S. Embassy in Barbados has consular responsibility for Antigua and Barbuda, Dominica, St. Kitts, and Nevis, St. Lucia, St. Vincent, and the Grenadines, as well as the British dependent territories of Anguilla, British Virgin Islands, and Montserrat, and the French islands of Martinique, Guadeloupe, St. Barthélemy and St. Martin.
We can help you open business and personal accounts with several international banks in Barbados.
We work with 3 different banks in Barbados, each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs.
Barbados is one of the twelve countries that form the Caribbean Antilles. Its capital and the most populated city is Bridgetown.
Located in the Lesser Antilles, it is the most easterly of the islands, lying to the east of Saint Lucia and Saint Vincent and the Grenadines.
Spain conquered the island because that was where Columbus arrived on his first voyage in the 15th century. In the seventeenth century, the English turned the place into a colony of the United Kingdom. This situation remained until 1966, when its town declared independence on the 30 of November. That year he joined the UN and became a Commonwealth realm with Elizabeth II as Queen of Barbados and head of state, who was represented on the island by a governor-general.
On 30 November 2021, Barbados transitioned to a republic within the Commonwealth. The first and current president is Sandra Mason, who previously served as the last governor-general.
Its population exceeds 290,000 inhabitants. The official language is English and its official currency is the East Caribbean Dollar (XCD), which is pegged to the US $ at 2.7: 1 ratio.
Barbados is one of the most developed countries in the Eastern Caribbean and has one of the highest per capita incomes in America.
Although the traditional Barbadian economy was based on the production of sugar, the main export commodity, currently tourism is its main economic activity, with tourists mainly from the United States and Europe.
At present, it has partially diversified its economy with industries such as manufacturing, construction, and mining.
Barbados is a CARICOM member and has concluded trade agreements with several jurisdictions, including the U.S., Canada, and the European Union.
The international business and financial services sector are one of the most important contributors to the economy of Barbados, given its business-friendly legal framework and its low tax regime.
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.
Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is available if the account is not successfully opened subject to our terms of service (20% to partly cover service and payment processing and administrative costs apply).