The location

Barbados Map

Barbados
as a Jurisdiction

Successive Barbadian governments have remained committed to the goal of establishing Barbados as a reputable and leading international financial centre.

The Barbados government has put in place a regulatory framework for the financial sector that meets the best international standards. Barbados has been white listed by the OECD Global Forum in 2009 (https://www.oecd.org/ctp/42497950.pdf).

Concorde Bank has been a Qualified Intermediary for withholding tax purposes relating to the United States of America for many years, and more recently became FATCA compliant. As such, Concorde Bank applies an anti-money laundering policy in compliance with the Barbados legislation and international best practice.

General country information

  • Population of 292,244 (April 2024 estimate)
  • The island is 21 miles (34km) long and 14 miles (23km) wide
  • The easternmost island in the Caribbean
  • Barbados has the third oldest parliament in the world, with uninterrupted parliamentary governance since 1639.
  • Independent since 1966 and part of the Commonwealth
  • Easy to reach with direct flights to Europe, USA, Canada and South America. The airport used to accomodate a Concorde flight on a regular basis from both London and New York.
  • Atlantic time zone, the time in Barbados is GMT -4.

Barbados main economic indicators (source CB of Barbados, est 2015)

  • Nominal GDP (USD Mio) 4,408
  • Real Growth (%) 0.5
  • 53rd richest country in the world in terms of GDP (Gross Domestic Product) per capita
  • Good standard of living and education. Literacy rate of 97%

Relevant links