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Cannabis in Barbados & Emerging Opportunities
As part of the Carribean Islands, Barbados is teeming with opportunities for all stages of cannabis product production, including cultivation, manufacturing, and extraction. At Higher Yields Cannabis Consulting, we help you demystify these opportunities and build sound business plans from seed to scale.
LEGALIZATION OF CANNABIS IN BARBADOS
With the recent legalization of recreational cannabis in Canada and throughout the United States, many are wondering if Barbados will follow suit.
For now, only medicinal cannabis is fully legal in Barbados. Recreational cannabis remains illegal, but it has been decriminalized.
There is broad public support for the medicinal cannabis industry in Barbados, and with the recent legalization of cannabis in a number of nearby Caribbean countries, the cannabis industry is expected to flourish on the Barbados island.
Because cannabis in Barbados is already shaping up to be an incredibly lucrative opportunity — especially for those who first capitalize on its legalization — now is the time for savvy entrepreneurs to get in on the ground floor and begin to invest in the industry of medicinal cannabis in Barbados!
If you’re interested in learning more about the various licenses and investment opportunities available for medicinal cannabis in Barbados, keep reading.
Contact Us to discuss cannabis Licensing Opportunities in Barbados
If you are looking to attain a license for hemp or cannabis in Barbados Higher Yields Cannabis Consulting can help. Our team of cannabis licensing experts and cannabis application technical writers has had great success helping newcomers and experienced operators attain licenses in Barbados.
THE HISTORY OF CANNABIS IN BARBADOS
The island of Barbados has a long history with cannabis, dating back to the early 17th century. The British first brought hemp seeds to the island in order to grow them as a cash crop.
However, as different parts of the plant are used for vastly different purposes, it soon became a versatile resource for textile production, rope making, and various other crafts.
When slave labor replaced manual labor in Barbados in the 19th century, the cannabis in Barbados was widely used as an analgesic to ease pain from sunburns and other harsh working conditions.
Despite its long history on the island, cannabis in Barbados remains illegal for recreational use; only medicinal and spiritual uses have been legalized.
CURRENT CANNABIS LEGISLATION IN BARBADOS
The regulations in Barbados are relatively simple and straightforward: It is illegal to cultivate or possess recreational marijuana in Barbados.
Federal law in Barbados has decriminalized possession of small amounts of cannabis. According to the Drug Abuse and Control Amendment Bill, the possession of 14 or fewer grams is now just a fineable offense under Section 24 (1) (b) and Schedule II.
Fortunately, the fine is only $200 (if the user pleads guilty), which is a much more appealing option than imprisonment. However, possession of more than 14 grams without a medicinal cannabis license is still an indictable offense under Section 23(1)(b) and Schedule II.
In 2019, medicinal cannabis was legalized under the Barbados Medicinal Cannabis Act of 2019. The legalization of medicinal cannabis in Barbados has opened up the cannabis industry to Barbadians, permanent residents, persons with immigrant status, CARICOM nationals, and companies who are looking to cultivate, distribute, or sell medicinal cannabis.
INVESTING IN CANNABIS IN BARBADOS
When preparing to invest in cannabis in Barbados, it is important to keep a couple of things in mind.
First: The requirements for a legal cannabis business license change regularly as the industry develops and regulations are tightened.
Second: While a lot of countries are working toward loosening their cannabis laws and regulations, Barbados has strict rules that govern how the drug can be used — and there is no solid guarantee that those will loosen.
With that said, the legalization of medicinal cannabis in Barbados has opened many opportunities for those who are seeking to invest in the cannabis industry.
According to the Barbados Medicinal Cannabis Licensing Authority (BMCLA), direct foreign investment is allowed, but these investments must still allow 30% local ownership by citizens, permanent residents, persons with immigrant status, or CARICOM nationals.
If navigating the fine print seems intimidating, remember that Higher Yields Consulting is here to help you get your business with medicinal cannabis in Barbados up and running — no matter your level of experience.
INVESTING IN CANNABIS IN BARBADOS
When preparing to invest in cannabis in Barbados, it is important to keep a couple of things in mind.
First: The requirements for a legal cannabis business license change regularly as the industry develops and regulations are tightened.
Second: While a lot of countries are working toward loosening their cannabis laws and regulations, Barbados has strict rules that govern how the drug can be used — and there is no solid guarantee that those will loosen.
With that said, the legalization of medicinal cannabis in Barbados has opened many opportunities for those who are seeking to invest in the cannabis industry.
According to the Barbados Medicinal Cannabis Licensing Authority (BMCLA), direct foreign investment is allowed, but these investments must still allow 30% local ownership by citizens, permanent residents, persons with immigrant status, or CARICOM nationals.
If navigating the fine print seems intimidating, remember that Higher Yields Consulting is here to help you get your business with medicinal cannabis in Barbados up and running — no matter your level of experience.
Barbados Cannabis Consulting services
At Higher Yields Cannabis Consulting (HYC), our cannabis consultants are here to assist you with planning and building your cannabis business in the Barbados. Our team of canna advisors are well-versed in local laws on compliance, and we offer services that assist you in building your brand, creating your marketing plan, designing your website and assets, crafting your social media presence, and much more to help your business see success.
Startup
Our team of cannabis consultants has decades of combined experience with cannabis business startups offering a full range of services. From licensing to accounting.
Design Build
HYC has an in-house cannabis facility design and build team led by a 3rd generation HVAC expert. We've built facilities all over the USA as well as internationally.
Compliance
Our cannabis compliance team is one of the best in the country. Offering a full range of compliance services as well as Metrc auditing, training, and more.
Branding
Our in-house team of graphic designers, brand creators, and marketers has over 50 years of combined experience. They are also well-versed in the plant and the industry itself.
Contact us at (844) HI-YIELD to learn how we can assist you.
INVESTMENT OPPORTUNITIES IN BARBADOS
Barbados is emerging as a popular destination for cannabis enthusiasts, with a growing number of investors looking to Barbados to invest in local marijuana startups.
The country’s proximity to North America and its business-friendly regulations are just some of the reasons that cannabis entrepreneurs are choosing Barbados as their place to set up shop.
Whether you’re thinking about putting down roots in Barbados or simply interested in investing in local businesses, there are several ways you can get involved in the industry on an international level.
Keep in mind that, like every other country or U.S. state that has legalized cannabis in some form or another, legalization does not equate to simplicity.
The application process required to secure a license can be quite intricate — whether it’s dealing with cannabis in Barbados or in Colorado.
Precise requirements for your building plan and things like security and disposal plans are a central part of the application process.
It’s a lot to handle, even for market veterans. If you’re new to the market, consider reaching out to a seasoned cannabis professional as you learn the ropes.
At Higher Yields Consulting, we work with these processes every day! If you’re looking to start your own business with medicinal cannabis in Barbados, reach out to us and we will make sure to get your business up and running with as few headaches as possible.
STARTING YOUR OWN MEDICINAL CANNABIS BUSINESS IN BARBADOS
The Barbados Medicinal Cannabis Act of 2019 created the Barbados Medicinal Cannabis Licensing Authority (BMCLA).
The BMCLA is the central government authority that regulates the Barbados medicinal cannabis industry and grants licensing applications and renewals for those seeking to start their own businesses working with cannabis in Barbados.
Currently, there are eight different types of licenses for medicinal cannabis in Barbados that the BMCLA may grant to interested applicants. The BMCLA grants licenses for:
- Cultivating medicinal cannabis
- Transporting medicinal cannabis
- Processing or manufacturing medicinal cannabis products
- Dispensing medicinal cannabis at a therapeutic facility
- Research and development of cannabis for medical, therapeutic, or scientific purposes
- Laboratory testing of medicinal cannabis
- Importing medicinal cannabis
- Exporting medicinal cannabis
Each type of license for medicinal has different application fee costs and different requirements for the property where the medicinal cannabis will be grown, stored, sold, exported, researched, etc.
Application fees range from $1,980 at the low end (for cultivators, importers, exporters, and transporters) to about $9,900 for those seeking a laboratory license to conduct medicinal cannabis research.
There are also various other fees that can range from a few hundred dollars to thousands of dollars, depending on the type of license you desire and whether or not you are from Barbados. Licenses granted are valid for five years.
Anyone interested in entering the industry of medicinal cannabis in Barbados can find, complete, and submit an application through the BMCLA online application portal.
EXPORTING CANNABIS FROM BARBADOS
For those considering cultivating cannabis in Barbados as an export crop, it’s important to look into regulations surrounding exports.
Fortunately, Barbados is a member of CARICOM: a regional organization of Caribbean nations that works to promote economic and trade relationships between its members.
This membership makes it possible for Barbados to export cannabis to other countries in CARICOM; the only requirement is that cannabis exports be consistent with CARICOM’s Common External Tariff.
For example, Jamaica allows cannabis to be imported from Barbados as long as certain conditions are met. Barbados could also import cannabis from Jamaica and other CARICOM countries if it so desired.
Further, because Barbados is a member of COTED, an international organization of 13 Caribbean nations with common external tariffs, exporting from Barbados to any one of these countries is fairly simple.