Barbados: International Tax Planning Entities

Segregated Cell Accounts

Barbados SCCs can be (1) a company that is incorporated as a segregated cell company (2) an existing company that is converted to a segregated cell company (3) an external company which can be: a). registered as a cell company in Barbados b). continued as an SCC in Barbados. Here the liability of an SCC to a person arises the liability is attached to the cellular assets attributable to that cell.

Separate accounts may only be established for insurance business

Assets of the company segregated into separate accounts are kept separate from the general assets of the company

Assets of a separate account may be invested and dealt with in accordance with the terms of the relevant contract

Separate books of record are kept for each separate account

An SCC must include in its name the expression Segregated Cell Company or the expression ‘SCC’

Each cell must have its own distinct designation or denomination, which must be clearly set out in the agreement