Regulatory Alerts2020-02-13
Added · Updated
Exchange Control Circular No. 07 - Remittance of Dividends, Profits, Interest, and Rental Income from Real Estate
Authorised Dealers may approve the annual remittance of dividends and profits up to BDS$500,000 to non-resident beneficial owners, provided applicants submit a Tax Clearance Certificate and evidence of investment. They may also approve the full amount of interest per transaction for non-resident beneficiaries if the loans and terms were pre-approved by the Bank, requiring the loan agreement and proof of funds received in Barbados. Additionally, Authorised Dealers can approve remittances of rental income from real estate up to BDS$250,000 per transaction per non-resident beneficiary, supported by a rental agreement and land tax receipt. All such applications must be completed on Form FC (Not for Imports) and are subject to the conditions set out by the Central Bank of Barbados.
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