When one thinks of the Caribbean island of Barbados what comes to mind? Stunning golden beaches? A climate to die for? Pop idol Rihanna?
But did you know that Barbados boasts one of the lowest corporation tax rates in the world, supporting an incredibly welcoming investment climate? It also has a stable political and economic environment, acting as a convenient gateway to markets in the rest of the Caribbean and Latin America.
This November (20th-25th), Northern Irish companies are being invited to attend a trade mission, highlighting the immense trading and investment opportunities available in Barbados. Those attending to date come from sectors such as finance, education, training, hospitality and tourism.
Opportunities on the island include niche manufacturing, global banking, information and computer technology (ICT), FinTech, global education, food and drink, wealth management, insurance, renewable energy, medicinal cannabis and medical tourism, among others that are both traditional and emerging.
Additionally, the innovative and highly successful 12-month ‘Welcome Stamp’, that enables individuals to stay and work remotely on the island without changing their tax residency, has been extended and remains attractive to digital nomads in Europe.
The mission is being organised by the Renfrewshire Business Network in collaboration with Invest Barbados (Barbados’ national investment promotion agency) and Department for International Trade Scotland.
Opportunities are still available for those looking to participate.
One such individual going on the mission is Robin Prior, Managing Director of Abergower. The company, which has offices across the UK, offers a range of professional document scanning, document digitisation services and digital filing services.
“Abergower is constantly innovating. We began as a business that offered complex digitisation of any documents, working with organisations ranging from government departments to private companies. By completing the trade mission last year, we were able to see that Barbados could take full advantage of considerable expertise we have in converting paper-based documents to searchable digital content.
“On this mission, we will be promoting our more recent businesses, Abergower 3D and Abergower Dental. Through this we hope to revolutionise digital dentistry in Barbados through providing 3D printers and scanners, and promote the idea of dental tourism.
“In addition to employing local people, thereby benefitting the economy, we are also exploring the potential to use this as a base to expand further into the beautiful Caribbean.”
Those interested in participating in the trade mission should contact Jo Smith from the Renfrewshire Business Network – firstname.lastname@example.org
Support available to businesses seeking to export and invest can be obtained from the Department for International Trade (DIT) Scotland Team at: DITScotland@trade.gov.uk
Further information on Invest Barbados is available at: www.investbarbados.org