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Antigua and Barbuda company formation

Basic facts regarding Antigua and Barbuda

Antigua and Barbuda is a twin-island State with a combined landmass of 443sq.km. Antigua, the larger of the two islands, is 280 sq. km (108) sq. miles) while its sister isle, Barbuda, located to the north of Antigua, is 161sq.km (68 sq. miles). They are located in the Caribbean, north of Guadeloupe. The population is 87,884 (US Census Bureau estimate for 2011) and the population density is 198.6 per sq. km.

Antigua and Barbuda taxation

Companies incorporated under the IBC Act, 1982 of Antigua and Barbuda are exempted from the payment of taxes for a period of fifty years. In addition, no income or property taxes or imposts are charged for the following:

<> Profits or gains in respect of activities carried on within Antigua and Barbuda,
<> Securities or assets beneficially owned by an exempt corporation
<> Increment in value of property or other assets in Antigua or elsewhere
<> Transfer of all or any part of its securities or other assets to another exempt corporation
<> Dividends, interest or other returns from any securities, deposits or borrowings

Offshore business in Antigua and Barbuda

As of 2010, Antigua and Barbuda has 15 international banks, one international trust, three offshore insurance companies, 3,497 international business corporations (IBCs), ten interactive gaming companies, six interactive wagering companies, eight money services businesses, and 25 corporate management and trust services providers. In addition, there are five casinos. Bearer shares are permitted for international companies but the names and addresses of directors (who must be naturalized persons), the activities the corporation intends to conduct, the names of shareholders, and the numbers of shares they will hold are required to be disclosed. Registered agents or service providers are required by law to know the names of beneficial owners. All licensed institutions are required to have a physical presence, which means presence of at least a full-time senior officer and availability of all files and records.

Main features of Antigua and Barbuda companies

The main types of legal persons and arrangements used in Antigua and Barbuda to own property, hold bank accounts, own shares or to conduct financial transactions are: Companies, International Business Corporations, Trusts, Condominium Corporations, Trust Corporations, Incorporated Associations formed under Act of Parliament, Partnerships.

International cooperation

Antigua has executed Tax Information Exchange Agreements with Australia, Belgium, Denmark, Faroe Islands, Finland, France, Greenland, Iceland, Ireland, Liechtenstein, Netherlands, Netherlands Antilles, Norway, Portugal, Sweden, United Kingdom, United States, Aruba.

[sources: United States Department of State Bureau for International Narcotics and Law Enforcement Affairs; Caribbean Financial Action Task Force]

Offshore companies formation