Trusts in Barbados are governed by English common law and by the Trustees Act Cap 250 as amended, which deals with the powers of trustees. There is no registration requirement or stamp duty; trustees can be non-resident as long as one is resident. A resident corporation acting as trustee must be licensed under the Offshore Banking Act. Exchange controls apply to local trusts. The International Trusts Act 1995 introduced purpose trusts and asset protection trusts, as well as strengthened protection against forced heirship provisions, non-recognition of foreign judgements, and protection against creditors.

Key Features

Barbados International Trust

Corporate Details

General
  • Type of entity

International Trust

  • Type of law

Follow English Common law

  • Legal Framework

Barbados Trustees Act Cap 250

  • Our time to establish a Trust

2 weeks

  • Taxation of trust assets

None

  • Double Taxation Treaty access

No

  • Change of Domicile permitted

Yes

  • Duration

100 years (except: charitable international trust or a purpose international trust)

  • Restriction on Investment of Trust asset

No

  • Succession

As per Trust Deed

Settlor

  • Requirements

Should not be a resident of Barbados

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

Beneficiary

  • Requirements

Should not be a resident of Barbados

  • Qualifications

A trustee, a beneficiary or a protector of the trust.

  • Property

Should not include immovable property situated in Barbados

  • Jurisdiction

Barbados Supreme Court

  • Forced heirship applicable

No

Trust asset

  • Restriction on type/amount

No, except property situated Barbados

 Trustee   

  • Minimum number

1 if corporate and 2 or more if not corporate

  • Qualification

1 Domestic trustee is required

Accounts

  • Requirement to file

Yes

  • Publicly accessible

No