Business Barbados - 2023 Edition

jurisdiction offering financial and social stability with well-regulated legislation, Barbados continues to be highly attractive to companies from a governance perspective. By complying with the stringent anti-money laundering and economic substance regulations demanded by organisations such as the OECD and the EU, Barbados can rightfully claim to have one of the best and tightest tax regimes in the world. Businesses that establish here have access to a steady supply of educated, trainable employees with a good work ethic, including each year approximately 1,500 graduates from the University of the West Indies in biology, chemistry and other science- based subjects. It is worthy of note that by recruiting Barbadian graduates, international companies can often fulfil their diversity requirements in one go. Other Barbados advantages include excellent airlift and communications, well-established strategic partnerships around the world, and opportunities to engage in newly developing sectors. Furthermore, Barbados has matured into a cosmopolitan location with a welcoming environment for international businesses and investors, as well as individuals or families seeking a new place to live amongst like-minded people, with a happy, healthy outdoors lifestyle. Barbados has a real opportunity to implement a transformational phase of economic development that could potentially realize the nation’s aspiration to be world-class. But we cannot become a global success on our own. We need to establish mutually-beneficial alliances with people and businesses of substance who have already attained proven world- class status, then facilitate them with the appropriate infrastructure to prosper. And we have to do it now. Barbados is open for business and ready to work. Bona fide investors welcome! 15 BUSINESS BARBADOS 2023 F R O M T H E P U B L I S H E R