BARBADOS

Status	Parliamentary democracy
Area, sq.km:	430
Population:	275 000 (2001 July)
Capital:	Bridgetown
Business language:	English
Currency:	Barbadian Dollar (BBD)
Location:	Atlantic Ocean, north-east of Venezuela
Time zone:	GMT - 4

INCORPORATION DATASHEET
Advantages:	Low taxes, Growing number of double tax treaties
Disadvantages:	-
Company status:	International Business Company
Corporate legislation source:	International Business Companies Act, 1991
Company name:	All names must end with the following words: Incorporated, Inc., Corporation, Corp., Limited, LTD.
Time required for incorporation:	3-5 weeks
Minimum number of directors:	1
Usual minimum capital:	1 USD
Are accounts required::	No
Minimum number of shareholders:	1
Type of shares:	Registered
Annual tax and duties:	100 USD
What information is available on the public file:	Registered office, registered agent, Memorandum & Articles of Association, shareholders
Non-public information:	Directors
Registered office:	Local registered office is required by law.
Registered secretary / agent:	Local registered agent is required by law.

COMPULSORY COSTS (payable prior to registration)

FORMATION FEES
Incorporation fee:	790 USD
Notarial certification:	150 USD
International authentication (Apostille):	250 USD
Legal expenses, filing fees and stamp duties:	600 USD
Issuing of share certificates and initial minutes and forms:	200 USD
Corporate seal:	50 USD
Courier fees:	50 USD
Subtotal:	2090 USD
ANNUAL FEES*
Registered office and registered agent:	1190 USD
Annual tax and duties:	100 USD
Subtotal:	1290 USD
Total:	3380 USD

*The annual fees for the first year of the company's existence are payable prior to incorporation. Subsequently the amount of 1290 USD is payable annually beginning from the 1st of January of the year following the year of incorporation. Non-payment of the annual fees results in deletion from the Companies Registry.

The amount of 3380 USD includes the following services: formation of the company, duties payable to the local authorities for the incorporation of the company, Certificate of Incorporation with Apostille, provision of Memorandum Articles of Association authenticated by Registrar, Appointment of First Directors with Notary Public authentication, Share Certificates, initial minutes, provision of registered office and registered agent for 1 year, annual tax for the 1st year, two company seals, luxury leather corporate kit, courier delivery to Laveco office. The price contains no hidden costs!

OPTIONAL COSTS
Nominee Director (private person):	690 USD
Nominee Director (corporate body):	395 USD
Nominee shareholder:	295 USD
Power of Attorney:	390 USD
Notarial Certification:	95 USD
Certificate of Good Standing:	295 USD