General Research & Development Health Tourism Alternative and Renewable Energy

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2 THE BARBADOS DOMICILE Barbados has established itself as one of the leading international business domiciles in the world and its international insurance industry has been at the forefront of this development. As one of the largest global domiciles of captive insurance, it is listed among the top ten in the world by Business Insurance. Barbados is acknowledged as having substantially implemented the internationally agreed tax standards on by the OECD s Global Forum. Other factors in favor of Barbados include its anti-money laundering legislation, simplified statutory filing and accounting and the fact that it is a low tax jurisdiction. Its wide network of double-taxation treaties makes it an ideal hub for international treaty-based financial activity. One unique factor differentiating Barbados from other offshore locations is the availability of intellectual and service resources on-shore, which reduce cost and ensure continuity of personnel. Further indication of the true strength of the Barbados domicile is the presence of a number of large international re-insurers on the island. Barbados is committed to strengthening its competitiveness, while offering clients predictability and security in their investments. It promotes an environment which encourages the establishment of business of substance and its International Insurance legislation and Segregated Cell structures allow corporations the flexibility to create the types of corporate structures specifically suited to their needs. This event will speak to insurance and risk management strategies and highlight how a Barbados company can assist you in creating your winning solution to manage your risks and enhance your global competitive advantage. BUSINESS OPPORTUNITIES IN BARBADOS General Research & Development Health Tourism Alternative and Renewable Energy Financial Services International Business Companies International Insurance Companies International Banking Societies with Restricted Liability International Trusts Private Wealth Management Headquarters and Holding Companies Ships Registration Information Services Call Centre Services Insurance Claims Processing Credit Card Application Processing Back Office Processing Software Development Medical Transcription Health Information Management Manufacturing/Contract Manufacturing Electronics Medical Supplies High Fashion Apparel High-end Niche Manufacturing Pharmaceuticals

BARBADOS INSURANCE ADVANTAGES PROGRAM 1. Minimum capital requirement of US$125,000 2. Speed of incorporation and licensing 3. No restriction on insurance business written 4.

taxes on transfers of securities and assets to non-residents Exemption from exchange controls Income tax concessions for specially qualified nonresidents whose services are required for the business

3 BARBADOS INSURANCE ADVANTAGES PROGRAM 1. Minimum capital requirement of US$125, Speed of incorporation and licensing 3. No restriction on insurance business written 4. Special incentives: The reduced corporate tax rate No capital gains tax Exemption from withholding tax on dividends, interest, management fees or other income paid to non-residents Exemption from taxes on transfers of securities and assets to non-residents Exemption from exchange controls Income tax concessions for specially qualified nonresidents whose services are required for the business 5. Provision for incorporation of mutual insurance companies, that is, companies whose share capital is owned by their policy holders 6. The US/Barbados DTA, pursuant to which business convention expenses incurred by US corporations and organizations are deductible against US taxes 7. A GAAP accounting system, which is less burdensome than the imposition of requirements to produce local statutory filings 8. Freedom to acquire real estate compared to other jurisdictions that impose restrictions on real estate ownership 9. Good infrastructure for international insurance companies, including local availability of experienced management companies, banks, investment companies, auditors and lawyers 10. No requirements for a captive to hold board meetings or have a local director in the jurisdiction Co-ordinator: Mr. Kenneth Campbell, Manager North America Invest Barbados 8:00 a.m. Registration & Coffee 9:00 a.m. Welcome Ms. Emeline Taitt, Director, Investment Promotion Invest Barbados 9:20 a.m. Barbados- Providing Solutions for International Insurance Senator the Honorable Darcy Boyce Minister in the Office of the Prime Minister with Responsibility for Energy, Immigration, Telecommunications and Invest Barbados 9:45 a.m. The New Regulatory Environment - Strengthening Barbados Competitiveness Mr. Ian Carrington, Chief Executive Officer Financial Services Commission - Barbados 10:10 a.m. Choosing the Best Domicile: Onshore or Offshore A US Perspective Mr. Tom Stokes, Group Practice Leader, Alternative Risk Consulting JLT Towner Group US 10:40 a.m. Barbados Still a Leading Domicile for Captives Mr. Vin Hampden, Managing Director Aon Insurance Managers (Barbados) Ltd 11:05 a.m. Q & A 11:35 a.m. Vote of Thanks

4 PROFILE OF SPEAKERS PROFILE OF SPEAKERS Senator the Honorable Darcy Boyce Minister in the Office of the Prime Minister with Responsibility for Energy, Immigration, Telecommunications and Invest Barbados Senator the Honorable Darcy Boyce graduated in 1974 from the Mona Campus of the University of the West Indies with a first class honors degree in Economics. After gaining the degree of Master of Business Administration (MBA) in Finance from the University of Toronto in 1979, he qualified as a Certified Management Accountant (CMA) in 1984 and is a Fellow of the Institute of Chartered Accounts of Barbados. Mr. Boyce has worked as an Economist with the Caribbean Development Bank, as a Director of Coopers and Lybrand Associates, as the Executive Director of the Agricultural Venture Trust, as the Partner in Charge of Management Consulting, KPMG, as Deputy Governor Operations of the Central Bank of Barbados between 2000 and 2004, and as Chief Executive Officer of the Barbados Tourism Investment Inc. from He has also served on the Board of Directors of several private sector companies. Mr. Tom Stokes, Group Practice Leader, Alternative Risk Consulting JLT Towner Group US Mr. Tom Stokes, Practice Leader for JLT Towner s risk consulting needs globally, is responsible for research, planning and structuring of insurance programs for captives and other financial entities as well as business development for captive management and consulting in the U.S.A. Mr. Stokes is a former Global Managing Director and Practice Leader Risk Finance Consulting with Aon Global Risk Consulting (AGRC) and Managing Director, Willis of New York. He has a proven track record in marketing and developing captive insurance solutions for corporations and high net-worth individuals and in creating new captive industry opportunities. He is a recognized leader in the captive insurance field with emphasis on client satisfaction, trusted regulator interface and tax law application and analysis. Between 1992 and 2000, Mr. Boyce also served as the Coordinator of the Barbados Private Sector Agency to provide business sector input into the tri-partite governance arrangements in the country.

5 PROFILE OF SPEAKERS PROFILE OF SPEAKERS Mr. Ian Carrington, Chief Executive Officer Financial Services Commission Ian St. Clair Carrington is the Chief Executive Officer of the Financial Services Commission the entity responsible for the supervision and regulation of non-banking financial services in Barbados. Prior to his current position, he was the Director of National Insurance, where he was responsible for administering Barbados Social Security program, and a former Supervisor, of Insurance regulating the domestic and international insurance industry. Mr. Carrington has held several other senior posts, including Chief Management Accountant in the Ministry of Finance and Economic Affairs and Comptroller of the Inter-American Conference on Social Security. A Certified General Account for the past twenty years, he is also a former Director of CGA-Canada and a FCGA designation awardee. A Harvard graduate, Mr. Carrington holds a Master in Public Administration and a Diploma in Public Policy from the John F. Kennedy School of Government. Mr. Vin Hampden, Managing Director Aon Insurance Managers (Barbados) Ltd Mr. Hampden is the Managing Director of Aon Insurance Managers (Barbados) Ltd. and has twenty four years of experience in the captive insurance industry in Barbados. He is a qualified Chartered Accountant and is a Fellow of both the Institute of Chartered Accountants in England and Wales and the Institute of Chartered Accountants of Barbados. Prior to joining the captive insurance industry Vin s background was in audit and consulting with Big 4 accounting firms both in London, England and Barbados. He is a past Vice President of the Barbados Exempt Insurance Managers Association (BEIMA), a predecessor to the Barbados International Business Association (BIBA) and has also held positions as Treasurer and the Chairman of the Conferences committee.

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