Category of Transaction

Interest on Loans

Approving Authority Required

Applications should be considered by the Commerical Banks unless transaction is in excess of BDS$250,000 where it must first be approved by the Central Bank

Allowance

BDS$250,000 per transaction

 Applicant Status

Residents and Non-Residents of Barbados

Documentary Evidence Required

1. Form FC (Not for Imports)

2. Claim (if any) by borrower/lender

3. Document evidencing gross interest payable, income tax deducted and amount to be transferred

4. Loan Agreement

Steps to Take

Further Instruction

See Circular #6 for full details of Estates & Intestacies of Deceased Residents in Barbados