Barbados (BB)

Jurisdiction Overview

IDQuestionAnswer
206 *Is any formal registration required at all? ONLY DOMESTIC: Domestic law trusts have to register, but no registration of domestically managed foreign law trusts.
 Data Date: 2019

Notes

 
According to Article 9(2) of the Trusts (Miscellaneous Provisions) Act (2018), "a trustee of a trust shall file with the Director [of International Business], upon payment of the prescribed fee, the information referred to in subsection (1)(b)(i), (ii) and (iii), and the Director shall issue to the trustee a certificate of registration in the prescribed form" [TJN-note]. This information is: the name of the settlor, a summary of the purposes of the trust, and the name of the protector of the trust.
 
According to Barbados' Ministry of Finance, "under the Trusts Miscellaneous Provisions Act, all trusts under this Act must apply to be registered. ". However, we understand that whatever its denomination, trusts created under the Trusts Miscellaneous Provisions Act are domestic law trust because they have been created based on a local law. Therefore,there's no indication that foreign law trusts administered in Barbados have to register.

Sources

Article 9(2) of the Trusts (Miscellaneous Provisions) Act (2018)
 
https://www.investbarbados.org/docs/Trusts%20(Miscellaneous%20Provisions)%20Act,%202018-49.pdf
 
Communication with Barbados' Ministry of Finance of December 2019.
 
GF 2016: 34