Barbados (BB)

Jurisdiction Overview

IDQuestionAnswer
234 *Are Private Foundations available? Unknown
 Data Date: 2019

Notes

 
According to Barbados' Ministry of Finance, "On November 27, 2019, The Parliament passed the Foundations (Repeal) Act, 2019 which repealed The Foundations Act, 2013-2." (Communication with Barbados' Ministry of Finance, 28 December 2019). Prior to its repeal, "The Foundations Act (FA), which entered into force on January 2016, defined a foundation as a legal entity established for a specific purpose, which must be elaborated in its charter. A foundation shall manage, administer, invest and disburse its assets for the benefit of its beneficiaries in accordance with its charter and by-laws (s. 4(2) FA)." (GF 2016: 37). However, the Foundations (Repeal) Act, 2019 does not mention what will happen with all the private foundtations which are available already, so it's not clear if we can conclude that private foundations are no longer available in Barbados.

Sources

GF 2016: 37
 
https://www.investbarbados.org/docs/Intl%20Finance%20and%20Business%20Magazine%202019.pdf
 
Communication with Barbados' Ministry of Finance, 28 December 2019