This jurisdiction attracts thousands of foreign entrepreneurs every year due to the favorable business climate. For information on how to register a company in Antigua and Barbuda remotely or to open a corporate account with Antigua and Barbuda banks, read our article.
Antigua and Barbuda belongs to a number of independent island states and is located in the West Indies on the islands of the same name. This is a country with a steadily developing economy, the key sectors of which are: a tourism, a light industry, an agriculture, as well as IT and a gambling.
The capital of the country is St. John's. The official language is English. A population is more than 95 thousand people. The state’s currency is the East Caribbean Dollar (XCD). It is a part of the following global organizations: UN; African, Pacific countries; the Organization of American States and others.
According to annual research by Doing Business magazine, Antigua and Barbuda took 34th place in enforcing contract terms in 2019. Also, the country is famous due to the presence of a visa-free regime with 149 countries, including the EU, Monaco, Liechtenstein, the UK and others.
Registration of a company in Antigua and Barbuda will become a rather profitable solution, in particular, due to the following advantages of jurisdiction:
- the intensive economic growth;
- a political stability;
- a good ecology;
- the developed banking infrastructure;
- an optimized taxation;
- simplified conditions for obtaining a residence permit/citizenship in Antigua and Barbuda;
- a high level of the confidentiality;
- no requirements for annual financial statements/audit.
This jurisdiction is also notable for a presence of the prestigious highly developed sphere of online games. That is why, one of the most popular business ideas for foreign entrepreneurs, is to obtain a gambling license in Antigua and Barbuda.
If you intend to register a company in Antigua and Barbuda, the island state will offer you such following forms:
- a Limited Liability Company (LLC);
- a company, focused on the import/export of goods and services;
- the International Business Corporation (IBC);
- a holding company;
- a shipping company, etc.
If you want to set up a commercial firm in Antigua and Barbuda remotely, pay attention to such legal forms as LLC and IBC, which are most popular among foreign businessmen.
Conditions for registering a business in Antigua and Barbuda
Registration of a company in Antigua and Barbuda will take place as successfully as possible and quickly, subject to the following conditions:
- The presence of a unique name of the enterprise with 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.;
- The number of directors/shareholders is 1 person or more (an individual/legal entity of any resident status);
- A mandatory presence of a secretary;
- The presence of a registered office;
- A state duty in the amount of 300 USD (annual).
If you plan to open a company in Antigua and Barbuda, then you will find many pleasant advantages in a tax system. The key ones are:
- A preferential treatment, exempting the company from paying taxes for a period of 50 years;
- no the stamp duty, an income tax, a gift tax, the withholding tax.
Please note, that only those enterprises, that a profit outside the island are exempted from taxation. If you want to open a firm in Antigua and Barbuda and intend to conduct business in the country, then you will need to pay the following taxes:
- a sales tax is 15%;
- a corporate tax is 25%;
- a real estate tax is 0,1-0,5%.
You can set up a commercial enterprise in Antigua and Barbuda remotely, as soon as possible, in just 2-3 days. To do this, you will need to contact YB Case specialists, who will advise you in detail regarding the main business features of the selected jurisdiction, will provide legal assistance in preparing all the necessary documents, legal advice on how to open an account with Antigua and Barbuda banks, and, also, how to obtain a gambling license in Antigua and Barbuda.
Please, check with our specialists for possible solutions for your business.