Society with restricted liability SRLBarbados
What it takes to form, own and run a private limited company in Barbados, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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A society with restricted liability shall have at least 2 members.
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(h) the classes and any maximum number of quotas the society is authorised to issue.
Form it
Who registers it
- Registry
- Formed without visiting
- Yes
- Formed online
- Yes
What it takes to form
- A notary
- Not required
- A resident director
- Not stated
The registry’s and the law’s own pages do not mention it.
- Paying up the capital
- Each member contributes the amount, at the times and on the conditions, that the by-laws specify (SRL Act s.15(a)); contributions are in money or in property that is the fair equivalent of money, and services are not accepted (s.14(3)-(4)). No minimum is set.
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Every member of a society shall (a) contribute to the capital of the society the amount specified in the by-laws and at the times and on the conditions set out therein;
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 2
Quote
A society with restricted liability shall have at least 2 members.
- A local company secretary
- Does not apply
- A local registered agent
- Not stated
The registry’s and the law’s own pages do not mention it.
Each year, at the registry
- Annual registry fee
- Not stated
The registry’s and the law’s own pages do not mention it.
- Accounts on the public record
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit for a small company
- Not required
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revenue or whose assets exceed $1 000 000 shall be audited at least
- Audit
- Annual financial statements of a society whose gross revenue or assets exceed BDS $1,000,000 must be audited each financial year by an auditor who is a member of the Institute of Chartered Accountants of Barbados holding a practising certificate (SRL Act s.25(1)-(2)); no audit duty is stated below that threshold.
Important dates
When each obligation falls due, as the authority states it.
- Notice of change among managers to the Registrar
- 15 days after change of officers
With Business Barbados (CAIPO)
SRL Act s.18(3): within 15 days after a change among its managers.
- Notice of change of address of registered office
- 15 days after change of registered office
With Business Barbados (CAIPO)
SRL Act s.23(2): within 15 days of any change of the address of its registered office.
What is public
Not in our records What the register shows the public is not in our records for the SRL.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Headline rate · 9%+1 regime
The place’s headline corporate rate. Whether it varies for this type is not in our records.
Special regimes that may apply
- Foreign currency permit free zone
A qualified person — a company, external company, firm, society or trustee of a registered trust — that earns 100 per cent of its annual income in foreign currency, and holds a permit granted by the Director of International Business Foreign Currency Permits Act, 2025-5, ss. 9 and 10
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in Barbados
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
Not in our records Route, Statutory fee: none of these is in our records for the SRL.
Every business in Barbados
VAT
- Standard rate
- 17.5%
A 22% rate applies to telecommunications services and a 7.5% rate to accommodating direct tourism services.
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The VAT Rates are as follows: 0% - Zero-rated items 7.5% - VAT on accommodating direct tourism services 17.5% - Rate for standard supplies 22% - VAT on telecommunications services
- Other rates
- 7.5% Accommodating direct tourism services
- 0% Zero-rated items
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The VAT Rates are as follows: 0% - Zero-rated items 7.5% - VAT on accommodating direct tourism services 17.5% - Rate for standard supplies 22% - VAT on telecommunications services
- Registration threshold
- BBD 200,000
annual income or monthly revenue from taxable supplies; annual, or monthly revenue above 16,666.67
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Persons who meet the following criteria must register for VAT: Persons whose annual income is $200,000 or more Persons whose monthly revenue is greater than $16,666.67
- A foreign company
- See the note
The Barbados Revenue Authority pages read set out who must register, the rates and the filing periods, but say nothing about non-resident suppliers.
- Returns filed
- Monthly
Quote
The VAT filing periods are shown in the below table: Reporting Period Period Period Number Category Dec 01 - Jan 31 1 202201
- Tax authority
- Registration page read 2026-10-22
Payment and banking services
None of the services whose lists we hold names Barbados. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- Society with restricted liability (SRL)
- ISO 20275 code
- 2T7BSecondary GLEIF, Entity Legal Forms code list