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Introduction | Information BARBADOS Barbados has one of the highest standards of living and literacy rates in the developing world and according to the United Nations Development Programme, Barbados is currently the fourth most developed of all developing countries in the world. Despite its small geographical size, Barbados constantly ranks in the top 30 countries in the Human Development Index rankings. Barbados first started operating as an offshore centre in 1965, when it brought in attractive tax measures for offshore entities. In 1982 this legislation was updated with the introduction of the Companies Act (based on the Canada Business Corporations Act) and again in 1991 with the International Business Companies Act. With its wide range of business incentives, its low taxation and good professional infrastructure, Barbados has gained a strong reputation as a flexible, reliable and technologically-advanced centre. Highly flexible, modern legislation Long-established and well-respected jurisdiction Minimal filing duties Low start up and operating costs - annual license US$100 Choice of offshore structures Strong supporting infrastructure of banks, lawyers and accountants Good network of double taxation treaties Consent to acquire real estate Incorporation Datasheet Companies Act International Business Companies Act International Trusts Act