The process of exchange control liberalization began in the mid-nineteen-nineties when commercial banks were granted delegated authority to approve payment for several trade transactions which hitherto required the prior approval of the Central Bank. The pace of liberalization was accelerated over the last five years so as to enable Barbados to meet its obligation under the Caribbean Single Market and Economy CSME).

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

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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