USD Treasury Note – Frequently Asked Questions (FAQs)

Here are some Frequently Asked Questions about the 3.0% Government of Barbados USD Denominated Domestic Bond 2026.

Can I invest if I have a local foreign-currency account?

Yes, you can invest if you have a local foreign-currency account.

Can I invest if I do not have a foreign-currency account?

No, you cannot invest unless you have a foreign-currency account.

I earn foreign currency but don’t have a foreign-currency account. What should I do?

We recommend you open a foreign-currency account at your preferred local commercial bank. You will then be eligible to invest.

Is there a minimum or maximum investment?

The minimum investment is USD 500. There is no maximum limit.

I am a Barbadian living abroad. Can I apply?

Yes, you can apply as long as the funds come from a foreign-currency account.

Can non-nationals living in Barbados invest?

Yes, non-nationals in Barbados can invest if the funds come from a foreign-currency account.

Can non-nationals living abroad invest?

No, non-nationals living abroad cannot invest.

Do I need permission to remit the funds?

Residents may remit up to the balance held in a foreign-currency account at a local authorised dealer without Central Bank approval.

Can I pay from an overseas account in my name?

Yes, you can pay from an overseas account in your name.

Who pays the transfer fees?

The investor pays all bank transfer charges.

Why must I send the funds to Bank of America if I live in Barbados?

The Central Bank settles subscriptions using its correspondent account at Bank of America, New York, ensuring swift foreign-currency processing.

Can a foreign business invest in this instrument?

Yes, a foreign-registered business can invest if payment is made from a foreign-currency account.

If two of us apply jointly, do we both need foreign-currency accounts?

At least one joint holder must have a foreign-currency account.

Will the principal be repaid in US dollars or local dollars? 

Yes. Your semi-annual interest payments as well as your repayment at maturity will be paid in foreign currency to the account indicated on your application form.

I do not keep a local foreign-currency account. How will I receive my interest?

Interest can be credited to an overseas foreign-currency account.

Can I receive interest payments to an overseas account?

Yes, you can receive interest payments to an overseas account.

How is the Bank performing KYC on applicants for this investment? 

Under the certification section of our application form, you must have the form witnessed by a person listed on Appendix 5 of the Central Bank’s AML/CFT Guidelines[NRB1] . 

Are interest payments taxable for non-residents?

Non-resident persons (individuals & companies) are required to satisfy the Barbados Revenue Authority that they qualify as non-residents under the Income Tax Act. Once confirmed, interest earned will not be subject to withholding tax. 

Are interest payments taxable for residents?

For individuals who are residents in Barbados, interest income is taxed separately at a rate not exceeding 15 per cent. In the case of resident companies, the amount withheld on such interest income is treated as a prepayment of tax.

Individuals are deemed resident in Barbados when they spent in the aggregate more than 182 days in Barbados or if they are ordinarily resident.

How will Government use the proceeds from this treasury note?

Government will use the proceeds to finance its development plans.

How will the issue of this instrument impact Government’s ability to pay down its debt?

There will be no impact on the ability to repay debt.

How can Government afford the interest payments on this treasury note? 

The interest payments are a direct charge to the Consolidated Fund.

How will the payment of interest and repayment of the principal affect the international reserves? 

Due to the size of the issue, the payment of the associated interest costs and repayment of the principal will not have an impact on the international reserves.

Who do I contact for more information?

Reach out to the Public Debt Section, Banking, Currency & Investments Department, Central Bank of Barbados at publicdebt@centralbank.org.bb  or 436-6870.