Barbados is the most easterly island in the Caribbean chain, situated off the coast of South America. Just five hours by plane from New York, Barbados is home to major global banks and trust companies, investment and mutual fund managers, as well as leading international accounting, legal and consulting firms. The foundation for Barbados' success as a global international business financial centre is the Barbadian government's commitment to providing an environment conducive to international commerce and investing.
A former British colony and the Commonwealth's 3rd oldest parliamentary democracy, Barbados is an independent state within the British Commonwealth. Long noted for its political stability and English common law traditions, Barbados is committed to the free enterprise system and to the maintenance of the island as a major international business financial centre.
The Barbadian government also has a long-standing commitment to maintain the island's low-tax status, which has been responsible for its continuing attraction to international corporations and individual investors. The U.S. dollar is widely used for personal and business transactions. Barbados also has a significant tax treaty network with many of the major industrialized nations.
Besides its proximity to North America, political stability, regulatory soundeness and the efficiency of its financial institutions, Barbados also represents an ideal environment for individuals and corporations as a result of its well-established infrastructure of highly trained professionals in banking, accountancy and the law, as well as its sophisticated and efficient telecommunications network.