Moving and starting a business - help!
 

Hello chat mates. My name is Mar and I currently live in Toronto, Canada. I am looking at the possibility of moving to Barbados and starting a small business but I have some questions, if you would be kind enough to answer...

1. What papers will I need and what is the cost (business permit?, resident permit etc..) AND how long would this all take?
2. What do you think the island needs?
3. I love my car and it is coming with me... I know that import tax is high but if it is under the business does that make a difference?
4. What about taxes - does one pay a profit tax or not?

Please, any assistance you could offer will help me in starting this possible venture.

sincerely,
mar

Re: Moving and starting a business - help!
 

Ok.. I don't want to be the devil, but unless you have a totally unique business, I'm not sure that moving here is going to do you any good. I say that as we aren't lacking in too much.. and in some areas we have too much of those things. However..

Take a look at these Barbados Government pages..
http://caipo.gov.bb/index1.htm
http://www.barbadosbusiness.gov.bb/
www.barbados.gov

These may help you in your start to set up shop.. but you will have to have a work permit. there maybe ways around this.. one being having enough money to walk in and totally open up your own business, restaurant etc, that would be acceptible to the government and bring employement to the local population.

What the island needs is a fresh look at customer service in all sectors of business and be able to translate that into helpful, courteous staff and great products and services...

Re: Moving and starting a business - help!
 

That's a very nice way of putting it... :rofl:

Mar, as for your car, importing it will be very costly. You might be able to write off that cost as a business expense, but you (or your company) will have to pay upfront. Just like at home.

Foxy