Barbados is the most easterly of the Caribbean islands, lying in the Atlantic Ocean near the northeast coast of Venezuela. It comprises 166 square miles of mostly arable land. Indigenous people inhabited this area over two thousand years before the arrival of the first European settlers from England in 1627.

Initially, the colony was established to grow tobacco and cotton for export to England, however the colonists soon found that it was more profitable to grow sugar cane and by 1645 the first sugar plantations were established. Many slaves imported from Africa worked these plantations until the abolition of slavery in 1834.

Bridgetown, Barbados

Barbados is now home to a population of more than 250,000 people from diverse cultural backgrounds who have helped to transition the island from a monoculture based on sugar to a stable economy consisting of a large tourist industry, light manufacturing, and an international financial services segment. The main city is Bridgetown where EXPORT ASSIST has its office. The airport handles international traffic and is located less than 30 minutes from Bridgetown.

In 1966, Barbados became a fully independent nation within the British Commonwealth. The basis of the legal system is common law with the constitution taking precedent over Parliament. They have had a representative government since 1639 and now have a three party system. The school system is based upon the British model and the literary rate is 98% with English as the local language. On December 31, 1984, the convention between Barbados and the United States for the avoidance of double taxation with respect to taxes on income was signed in Bridgetown. This convention is the first income tax treaty to be negotiated between the U.S. and Barbados. It was primarily negotiated by the U.S. Department of the Treasury, with the cooperation of the U.S. Department of State, and has the approval of both Departments.

Parliament Building, Bridgetown

Thoughtful tax legislation, such as the one above, and a clean reputation as a corporate base have stimulated tremendous growth in Barbados’ offshore financial services sector. Barbados’ position as the perceived capital of the Eastern Caribbean has resulted in the country becoming the base for multinational corporations, overseas delegations, and much of the region’s air transportation.  There are frequent scheduled airline connections to the island from various U.S. cities. The Barbados dollar is pegged to the U.S. dollar. IBC bank accounts are exempted from normal and prevailing exchange control requirements. Barbados has excellent telephone, fax, courier, and postal services. It has a comparable time zone to the Eastern United States.

Around the island you can find great resorts and restaurants, beautiful sandy beaches, clear tropical water, fascinating towns and affordable quality handicrafts. Barbados also has an excellent deep water harbor and modern port with extensive freight and cruise ship facilities.