Barbados is poised to receive a substantial boost in funding from one of its primary development partners for various private sector-led projects spanning multiple sectors. Officials from the Inter-American Development Bank (IDB) Group revealed this during an interview with Barbados TODAY on Tuesday. Following a productive meeting with government and private sector representatives on Monday, James...
Minister of Tourism, Ian Gooding-Edghill, announced in Parliament yesterday that two hotels in Christ Church, the Blue Horizon Hotel and Savannah Beach Club Hotel & Spa, are now up for sale. Negotiations are currently underway for the sale of the Savannah Beach Club Hotel & Spa, with the Minister aiming to conclude the deal by the first half of the financial year. The sale of the Blue Horizon...
Speaking recently, Prime Minister Mia Mottley shared exciting plans in motion to redevelop & transform the islands Capital, which include welcoming a new hotel opposite the Kensington Oval, redeveloping the nearby central purchasing building, and using the BIDC building for “hotel and tourism” purposes. She also revealed that her government was in discussions with Guyanese officials about the...
What is proof of payment: A proof of payment can be either a receipt (scan, photo or PDF) or a screenshot from your online banking, clearly showing the following: Your details: Full Name/Account NameAccount NumberBanks Name Our details: Full Name/Account NameAccount NumberBank Name General details: DateAmount sentStatus - for example pending/sent.Currency usedReference or transfer...
Sending International wires from Barbados are not as simple as some other countries. In Barbados, there are foreign currency controls and transfers subject to fees, which have to be approved by the Central bank first, or the funds will be returned or rejected. If for any reason, such as your rental does not go ahead then we may need to send you a refund. This usually takes up 7-10 business days,...
Deciding to take the plunge and buy a property is major change, but when you do… here is the real estate survival guide for buyers. Buyer’s checklist: 1. What can I afford? Calculate your monthly income and debt.Speak to your mortgage broker today for the best rates and don’t be shy to shop aroundFigure out your down payment. Click here for our luxury homes for sale in Barbados 2....
From a stable rate of return, appealing tax advantages and a step in building your wealth, Real Estate offers an appealing advantage. Here are 5 reasons why you should choose real estate: Not Volatile: Property has historically proven to be the sound choice. Your risk of loss is minimized by the length of time you hold on to your real estate. Real estate gives you more control of your investment...
International Business Investing in Barbados Non-national investors will need to submit an application for permission to invest in Barbados to the Exchange Control Authority (ECA). The functions of the ECA have been delegated to the Central Bank of Barbados and are carried out by the Foreign Exchange and Export Credits Department of the Bank. The applications are usually submitted by the...
BRIDGETOWN, Barbados — It was announced this month that on July 5th, Bitt Digital Inc. became the first company to complete and exit the Regulatory Sandbox guided by the Central Bank of Barbados and the Financial Services Commission. The Sandbox provided Bitt with the opportunity to test its blockchain-based financial technology (fintech) products, services, and business models in a controlled...
Barbadians will be able to open local foreign currency accounts soon. This was announced by Minister in the Ministry of Finance, Ryan Straughn. Starting 2 August 2019, this facility would be available to all residents, but it could not be bolstered by purchasing currency from the local foreign exchange pool. Instead, Straughn explained, they were putting the regulatory framework in place to...