Foreign Exchange

The administration of exchange control commenced in Barbados Exchange Control is a set of procedures utilised by Governments to monitor and regulate the flows of foreign exchange into and out of a country. The administration of Exchange Control commenced in Barbados in 1967 with the passing into law of The Exchange Control Act, Cap.71. Section 3 of this Act states that the Minister with responsibility for Finance is designated the Exchange Control Authority, who has the responsibility to administer and regulate foreign exchange flows between Barbados and other countries. The Minister of Finance has delegated the performance of many of his functions under the Act to the Central Bank of Barbados (Bank). The Bank monitors, analyses and regulates foreign exchange transactions and advises the Minister of Finance accordingly..

CIRCULAR NO: 03/2011 - Margins on Dealings in Foreign Currency

Exchange Control Guide

The Guide to Exchange Control in Barbados has been prepared by The Central Bank of Barbados.

The guide discusses the Exchange Control practices and procedures currently in force in Barbados. Learn more

Exchange Controls Forms

  1. Assets Declaration Sheet
  2. FI Form - Application to Register Foreign Investment in Barbados (Original & Duplicate)
  3. FC Form - Application to purchase foreign currency (Not For Imports)
  4. FC Form - Application to purchase foreign currency (For Imports)
  5. PP Form - Application to make Periodic Payments (Original & Duplicate)
  6. TR Form - Application to transfer land, buildings or other hereditaments (Original & Duplicate)

FATCA (Foreign Account Tax Compliance Act)

A FATCA model 1 A agreement was signed between Barbados and the United States of America (US) at Bridgetown on November 17, 2014. Under this agreement, Both Barbados and the US will collect Bank account and other prescribed information on each other's citizens and transmit it to the Revenue Authority of each country. Prior to September 30, 2015, Barbados will pass FATCA regulations and negotiate a Competent Authority Agreement between the Barbados Revenue Authority and the US Internal Revenue Service to operationalise FATCA. Learn more

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