NextSpring

Central Bank of Barbados

Applies the rule

The delegate of the Minister of Finance under the Exchange Control Act, and the body that in turn delegates to authorised dealers and depositaries. Its exchange control pages carry the operative definitions a newcomer needs: who counts as resident and non-resident for exchange control, what an External Account is, what a Foreign Currency Account is, and what general permissions have been granted to the banks.

The body that applies the rule and decides applications. It publishes what it requires, which is authoritative about its own practice but is not the text of the law.

www.centralbank.org.bb/foreign-exchange

Cannot be cited for

It administers and does not issue. Its definitions of resident and non-resident are published guidance, not statutory definitions, and they are not the Income Tax Act's definitions - the same person can be resident for tax and non-resident for exchange control for three years. The detail lives in Central Bank circulars that the FAQ pages reference but do not reproduce, so the FAQs must not be cited as the complete position. Figures for travelling allowances appear without an instrument behind them.

Re-check every

90 days

Publication rhythm

FAQ pages change rarely; liberalisation is announced by press release and circular.

Re-check triggers

a press release announcing further liberalisation of exchange control · a new or amended exchange control circular · any amendment to the Exchange Control Act

Facts resting on this publisher · 2