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As of August 5th, Barbados will be removed from the European Union’s list of high-risk countries, the EU blacklist.
This has been confirmed by Attorney General Dale Marshall, who says Barbados can now enjoy greater stability and predictability in commercial activity with businesses and individuals in EU member states.
He told CBC News that he has received confirmation of the publication of the delegated legislation in the EU Official Journal today.
Mr. Marshall adds that the move has been long in coming, noting that Barbados ought to have been delisted a year ago, having been removed from the Financial Action Task Force grey list since early last year.
He says this also led to Barbados being automatically removed from the UK blacklist.
According to Mr. Marshall, the EU’s decision means financial institutions in Europe will no longer be required to conduct enhanced due diligence on parties and transactions involving Barbados.
