Every year, Antigua and Barbuda attracts thousands of foreign entrepreneurs. Please see below for information on how to register a company in Antigua and Barbuda remotely or open a corporate account with a bank in Antigua and Barbuda..
Being part of the identically called archipelago,.Antigua and Barbuda is an island state with a rapidly developing economy. Its key economic sectors include tourism, agriculture, IT and gambling.
The capital of the country is St. John's. The official language is English. The country has a population of more than 95 thousand people. The national currency is the East Caribbean Dollar (XCD). Antigua and Barbudaof is a member of the UN, African and Pacific Countries; Organization of American States and others.
Key FeaturesIn 2019, Antigua and Barbuda was ranked 34th for ease of enforceability of contractual terms. The country is also famous for its visa-free regime with 149 countries, including the EU, Monaco, Liechtenstein, the UK and others.
Registration of a company in Antigua and Barbuda has a number of advantages to it, namely:
- rapidly developing economy;
- political stability;
- good environmental situation;
- developed banking sector;
- optimized taxation;
- simplified procedure for obtaining a residence permit/citizenship in Antigua and Barbuda;
- total confidentiality;
- no requirements for annual financial statements/audit.
Antigua and Barbuda is also notable for its highly developed online gaming industry. That is precisely why so many foreign entrepreneurs are looking to obtain a gambling license in Antigua and Barbuda.
Popular legal forms of companies
Those seeking to register a company in Antigua and Barbuda can do it in one of the following business organization forms:
- a company focusing on import/export of goods and services;
- a holding company;
- a shipping company, etc.
If you want to set up a commercial firm in Antigua and Barbuda remotely, you should definitely choose LLC and IBC - the two most popular business organization forms with foreign businessmen.
Requirements for Registering a Business in Antigua and Barbuda
Registering a company in Antigua and Barbuda requires compliance with the following requirements:
- having a unique company name which includes the following types of endings and their abbreviations: Limited (Ltd.), Corporation (Corp.), Society Anonyme (S.A./Sociedad Anonima), Incorporated (Inc.). The use of words is prohibited: Manager, Capital, Currency, Deposit, Lender, Pension, Stock, Trust, etc.;
- having no fewer than 1 director/shareholder (a physical person or legal entity with any residential status);
- having a secretary;
- having a registered office;
- paying an annual state duty of 300 USD.
TaxationThe main advantages of opening a company in Antigua and Barbuda include:
- preferential treatment (i.e. a company is exempt from taxes for 50 years);
- no stamp duty, income tax, gift tax and withholding tax.
Please note that tax exemption is only applicable to companies earning profit outside Antigua and Barbuda. Those considering opening a firm in Antigua and Barbuda will be required to pay the following taxes:
- a sales tax of 15%;
- a corporate tax of 25%;
- a real estate tax of 0,1-0,5%.