BarbadosAntitrust/Competition Law
On January 2nd 1996 the new Societies with Restricted Liability Act 1995 was proclaimed bringing into force legislation that allowed for another form of business association in the rapidly developing financial sector of Barbados.
An SRL, as the entity is known, is neither a company nor a partnership but rather an entity which is designed to take advantage of the significant benefits that can be achieved in the United States through the use of hybrid entities, namely non-US entities which are characterised under local legislation as Corporations but which are treated as partnerships under US legislation for US tax purposes. It is similar in many respects to the Limited Liability Companies that are well utilised in civil law jurisdictions.
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