Large increase in Canadian investment in Barbados
Wednesday, January 7, 2004
WASHINGTON, USA: Canadian investment in Barbados has increased dramatically in recent years, and the country now ranks as the third most popular jurisdiction for Canadian firms investing offshore, after the United States and the United Kingdom.
According to research by the US News & World Report, the amount of investment flowing from Canada to Barbados has leapt from CAD$628 million in 1998 to CAD$23.3 billion in 2001.
The report also states that the amount repatriated to Canada as tax-free dividends from subsidiary firms in Barbados has increased dramatically in recent years, from some $400 million in 1990 to $1.5 billion in 2000.
The bilateral tax treaty between the two nations, which has now been in place for over twenty years, and allows firms to pay income tax at just 2.5%, has assisted the popularity of Barbados as an investment choice for Canadian firms.
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