The Business Companies (Economic Substance) Act, 2018 – 41 (the “ES Act”) was enacted in Barbados on 1 January 2019 in response to Action 5 of the OECD’s Action Plan on Base Erosion and Profit Shifting.
Barbados a regulatory sandbox framework in October 2018 as a joint initiative between the Central Bank of Barbados and the Barbados Financial Services Commission (the “Barbados Regulatory Sandbox”), which is designed to attend to the needs of innovators - particularly those in the FinTech space.
On 1 July 2019, the Barbados Stock Exchange (“BSE”) received approval from its primary regulator the Financial Services Commission for the launch of its Special Listing Facility for Digital Assets (the “Special Listing Facility”).