Barbados (BB)

Jurisdiction Overview

IDQuestionAnswer
470 *LO Record: Does the registration of domestic companies comprise legal owner's identity information? No. Companies available without recorded legal ownership information.
 Data Date: 2019

Notes

 
"The Corporate Affairs and Intellectual Property Office (CAIPO), which is headed by the Registrar, does not consistently maintain ownership and identity information on all relevant entities. All companies and SRLs [Societies with Restricted Liabilities] incorporated in Barbados must be registered with CAIPO [Corporate Affairs and Intellectual Property Office], but ownership information is not required to be submitted upon registration for all entities. Information on the legal owners of domestic and international SRLs is required for registration with CAIPO, but the SRL Act does not stipulate any deadlines for updating information previously submitted. Domestic and international companies, on the other hand, do not have to disclose their legal or beneficial ownership upon registration. Pursuant to the Companies Act section 15A and the SRL Act section 24(1), every company and SRL incorporated in Barbados with share capital must file with the Registrar an annual return. The annual return does not require any ownership information, but, in the case of international entities, requires an attestation from the service provider that he/she has conducted the requisite due diligence on the shareholders, directors and managers" (GF 2016: 25). As of July 2019, Barbados had abolished international societies with restricted liability, qualified insurance companies and international business companies with grandfathering in accordance with the Forum on Harmful Tax Practices' timeline. Nevertheless, given that "Domestic and international companies, on the other hand, do not have to disclose their legal or beneficial ownership upon registration" (GF 2016: 25), we conclude that not all companies have to record legal ownership information on registration.

Sources

GF 2016: 25
 
https://www.oecd.org/tax/beps/harmful-tax-practices-peer-review-results-on-preferential-regimes.pdf
 
https://barbadosfiu.gov.bb/wp-content/uploads/2019/12/BB-S.I-2019-No.-62-Companies-Amendment-Regulations-2019.pdf