A Bilateral Investment Treaty (“BIT”) allows for companies to advance and protect their business interests in foreign countries. It is a remedy to protect direct foreign investment by one country into another, basically helping to defend foreign situs assets from expropriation or nationalisation. To assist in reducing the risk of investing in some nations, if structured properly, many Barbados resident companies can enjoy certain protections provided under BITs. BITs provide dispute resolution through the Washington, D.C. based International Centre for Settlement of Investment Disputes.
investment promotion and investment
provision for the compensation for losses
the granting of the most favoured nation and national treatment provisions
protection from unfair expropriation and nationalisation of investment
procedures for fair and equitable settlement of disputes arising
procedures for the timely repatriation of investment and returns
procedures for prompt transfer of funds
Barbados presently has BIT’s with Canada, China, Cuba, Germany, Italy, Mauritius, Switzerland, United Kingdom and Venezuela. If structured properly, this may reduce the risk of investment by foreign investors. A BIT was signed with Ghana in 2008 but it is not yet in effect.
The Axebridge Group
The Grove, 21 Pine Road, Belleville,
St. Michael, BB11113, Barbados
+1 (246) 228-9886