What are the types of companies in Barbados?

There are various types of companies in Barbados. These include:

1. Limited Liability Company (LLC): LLCs are a popular type of company that provides limited liability and tax advantages to its partners. An LLC must have at least one partner, and the partners have limited liability for the company's debts.

2. Companies: In Barbados, companies are governed by the Partnership Act, which is generally based on English law. Such companies may have capital represented by shares, and shareholders receive a share of the company's profits. Companies can generally be established as public or private.

3. International Businesses: Barbados is also a place where international businesses can be established. These types of companies are often used for international transactions and investments and can offer various tax advantages.

4. Offshore Companies: Barbados is also known as a tax haven and many international companies establish offshore companies here to benefit from tax benefits. Offshore companies often shift their income to other countries to pay low or no taxes.

5. Financial Services Companies: Barbados is also known as a hub for the financial services industry. Therefore, companies that provide banking, insurance, investment companies and other financial services can also operate in Barbados. These are just some of the types of companies available in Barbados and each has its own features and advantages. It is important to consult local counsel for more details on starting or operating a company.