Antigua and Barbuda
International Business Corporation (Company limited by shares)
Antigua and Barbuda has special importance in the offshore financial centers sector, due to geographical factors such as the time zone. The country is in the same time zone as New York, thus facilitating the development of a financial sector formed by many companies related to the stock market and wealth management.
Antigua and Barbuda offers the traditional services of an Offshore Financial Center, including the formation of Antigua offshore companies, bank accounts and the provision of financial services.
Corporations incorporated under the International Business Company Act, passed in 1982, are entitled to do business outside Antigua and Barbuda and benefit from a 50-year tax holiday from the date of incorporation. This exemption applies to most forms of income, dividends, interest and royalties paid by and to foreigners. There are no exchange controls and the unrestricted operation of bank accounts is permitted. An IBC benefits from the absence of capital gains and estate taxes in Antigua.
There are no exchange controls on the monetary transactions of Antigua International Business Corporations and funds can be freely moved on and off the island.
The International Business Corporations Act also provides strong confidentiality and privacy. The Act prohibits the disclosure of information imparted under conditions of business or professional confidence. There are no requirements to file any audited statements or corporate reports with the government.
As a former British colony, Antigua's legal system embodies the principle of English statutory and common law.
Antigua and Barbuda has signed up the OECD's Automatic Exchange of Information for tax purposes (AEoI) and is committed to undertake the first exchanges of information through Common Reporting Standard (CRS) in 2018.
International Business Companies in Antigua are sound tools for international trade and investment, free from taxes and easy to maintain.
Legal
Country code – AG
Legal Basis – Common law
Legal framework – International Business Corporation Act (As amended 1995-2005)
Company form – International Business Corporation (IBC) (Company limited by shares)
Liability - The liability of a shareholder to the company is limited to any amount unpaid on a share held by the shareholder.
Business restrictions – An IBC is not permitted to carry on any business activity within Antigua and Barbuda.
Corporations engaged in offshore banking, trust, insurance, betting or gaming activities and corporate management and trust services require a licence and have to meet special requirements and are subject to controls regarding inter alia, shareholders, directors, share capital and financial reporting. activities.
Share capital – It is not established minimum capital requirement. The usual authorized share capital is US$ 50,000. The minimum issued capital may be one share of no par value or one share of par value. Issued shares must be fully paid. Shares may be registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights are permitted.
Bearer shares are permitted; however, the registered agent must maintain a register of the the total number of bearer shares issued; the name of the beneficial owner; and the number identification and date of issue of each bearer certificate.
Shareholders – The company may be formed by a minimum of 1 shareholder, who can be an individual or a corporation, and may be non-resident. Details of the shareholders are not disclosed on a public file.
Directors – At least one director is required, who may be a natural person or a legal entity, and may be non-resident. Details of the directors are not disclosed on a public file.
Secretary – The appointment of officers is not mandatory although it is customary to appoint at least a Secretary. Officers are appointed by the Board of Directors and must be natural persons.
Registered Address – IBCs must have a registered office and registered agent who may be corporate body or individual, and must be resident in Antigua & Barbuda. Copies of the Articles of Association, Memorandum of Association, and Certificate of Incorporation must be kept at the Registered Office.
General Meeting – Annual general meetings are not mandatory, and can be held anywhere. Meetings can be held by telephone or other electronic means; alternatively, directors as well as shareholders may vote by proxy.
Electronic Signature – Permitted.
Re-domiciliation – A foreign entity can continue as an Antigua and Barbuda IBC, and vice versa.
Compliance –A company is required to keep financial records, which should reflect the financial position of a company. A corporation must keep at its registered office a copy of the financial statements of each of its subsidiaries whose accounts are consolidated in the financial statements of the corporation.
There is no requirement to file audited accounts or annual returns with the authorities.
International Business Corporations are subject to an annual registration fee ($300).
- Shareholders not disclosed
- Directors not disclosed
- Corporate shareholders permitted
- Corporate directors permitted
- Local director required
- Secretary required
- Local secretary required
- Annual general meetings required
- Redomiciliation permitted
- Electronic signature
- Annual return
- Audited accounts
- Audited accounts exemption
- Exchange controls
- Common law Legal basis
- 1 Minimum shareholders
- 1 Minimum directors
- USD 1 Minimum issued capital
- - Minimum paid up capital
- USDAny Capital currency
- Anywhere Location of annual general meeting
- 2018 AEOI
Taxes
Corporate income tax – Companies incorporated under the International Business Act, are exempt from taxation. All trading income, investment income, capital gains, compensations, rents and royalties, as well as sales of goods or supplies of services are exempted from Antigua and Barbuda taxes. Payments to non-residents are also exempt from withholding taxes.
Other taxes – Antigua and Barbuda does not levy direct personal taxes. Personal income, as well as, capital gains, net wealth and inheritances are not subject to taxation.
There is a real property tax from 0.1% up to 0.5% on the assessed market value of the property and a stamp tax on the sale of real property, which is 7.5% for the vendor and 2.5% for the purchaser. Non-residents sellers are subject to stamp tax of 5% on the appreciation in value of the real property.
Non-resident purchasers need to obtain an alien landholding license at 5% of the value of the property.
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- Offshore Income Tax Exemption
- Offshore capital gains tax exemption
- Offshore dividends tax exemption
- CFC Rules
- Thin Capitalisation Rules
- Patent Box
- Tax Incentives & Credits
- Property Tax
- Wealth tax
- Estate inheritance tax
- Transfer tax
- Capital duties
- 0% Offshore Income Tax Rate
- 0% Capital Gains Tax Rate
- 0% Dividends Received
- 0% Dividends Withholding Tax Rate
- 0% Interests Withholding Tax Rate
- 0% Royalties Withholding Tax Rate
- 0 Losses carryback (years)
- 0 Losses carryforward (years)
- 0% Personal Income Tax Rate
- 31 Tax Treaties
Country details
Antigua and Barbuda is a Central American country part of the Commonwealth. Formed by several islands to the east of the Caribbean Sea. The country is located on the Lesser Antilles and borders the island of Guadalupe to the south, Montserrat to the southwest, Saint Kitts and Nevis to the west and San Bartolome to the northwest. Saint John, located in the island of Antigua, is its capital, its most populated city and its main port. Its official currency is the East Caribbean Dollar (XCD), which is pegged to the US$ at a 2.7:1 ratio.
Antigua and Barbuda is a unitary, parliamentary, representative democratic monarchy, in which the Head of State is the Monarch who appoints the Governor General as vice-regal representative. Elizabeth II is the present Queen of Antigua and Barbuda, having served in that position since the islands' independence from the United Kingdom in 1981.
Antigua and Barbuda is a beneficiary of the U.S. Caribbean Basin Initiative that grants duty-free entry into the United States for many goods. It is a member of the Caribbean Community and Common Market (CARICOM) and the CARICOM Single Market and Economy (CSME). Antigua is a member of World Trade Organization (WTO), WIPO, UNCTAD, among other international institutions.
Its main economic sector is the Tourism, which accounts approximately 60 percent of the GDP and 40 percent of investments. The agricultural sector is domestic oriented, mainly of sugar cane, cotton and fruits and considerably limited by its reduced water supply. Other important economic activities include oil refining, textile, carpentry, rum production, beer, cement, local crafts and furniture.
The country enjoys a high standard of living, well-educated workforce and high average life expectancy.
Antigua is also an offshore financial center, with a legal and tax framework advantageous for the establishment of International Business Companies, which are fully tax exempt, provided that no business is done within the territory. Antigua also offers an Economic Citizenship Program, where it is possible to obtain a second passport through an investment.
Tax treaties
Procedures
Description
Antigua International Business Company (IBC) – US$2,800.00 (All included)
We pride ourselves in providing the best possible professional service which includes our honest hassle free “No Hidden Fee” policy. Your incorporation package includes:
- Government incorporation and filling fee
- Bound set of Constitutional Documents
- Certified Copies of Constitutional Documents for bank account opening
- Registered Agent & Registered Office Fee
- Courier fees
Time to form: 1 to 2 weeks.
All our incorporation services include a yearly consulting session, a dedicated account manager and access to our global network of trusted business services, including introductions to accountants, financial, tax and legal advisors at no cost.
Bank Account Options
- Antigua Bank Account (Remotely) – US$300.00
- Offshore Bank Account* (Remotely) – US$300.00
- Bahamas Bank Account (Remotely) – US$500.00
- Curaçao Bank Account (Remotely) – US$500.00
- Labuan (Malaysia) Bank Account (Remotely) – US$500.00
- Mauritius Bank Account (Remotely) – US$500.00
- Hong Kong Bank Account (In-person) – US$1,200.00
- Singapore Bank Account (In-person) – US$900.00
- Crypto-Friendly Bank Account (Offshore, Remotely) – US$3,000
We include introductions to payment processors or merchant accounts with all of our incorporation services. Whether you just need standard credit card processing or specialized services for high risk processing, we are happy to help you with introductions that can empower your business.
*Offshore Bank Accounts: Belize, Puerto Rico, Nevis, Antigua, Saint Lucia. Other bank account options may be available depending on business profile and turnover.
Annual Fees (2nd year) – US$1,100.00
Including:
- Government fee
- Preparing and Filling Annual Return
- Certificate of Good Standing
- Registered Agent & Registered Office Fees