Establishing a company in Barbados
Barbados is a small island country in the Atlantic Ocean, close to the Caribbean Sea and north of Venezuela. It is a miniscule 432 square kilometers, with only 285,000 in population. The majority of residents are of African origin, and the official language is English – a fact that makes company registration in Barbados convenient. The local currency is the Barbadian dollar (BDS), with a constant exchange rate of 2 BDS to 1 USD. Its capital is Bridgetown, it has a tropical climate, and its rainy season begins in June and ends in October.
The Spanish discovered the island to the west of Barbados as early as 1511, but it remained unsettled for many years. In 1625, the British took possession of it, making it a British colony and a stop on the African slave trade route. It gained its independence and began its membership in the British Commonwealth in 1966.