Antigua

Company formation

Antigua is an island found between the Atlantic Ocean and the Caribbean Sea.

Antigua

In the country, there are two major islands – Antigua and Barbuda, and many other small islands. Their government rule is that of a unitary parliamentary representative democratic monarchy, with Queen Elizabeth II being their head of state. The country depends on tourism, contributing more than 50 percent of its GDP. Since English is their official language, their judiciary system is English based, and they have rules that guide the formation and registration of companies.

The International Business Company (IBC) Act 1982, amended in 2018, and the Limited Liability Company (LLC) Act 2000 directs the legal bodies on the formation and registration of businesses. The IBC is a tax- exempt organization that needs only a single shareholder and a director from any country to stand in during the process. Therefore, it is possible for foreigners to own corporate shares. The laws governing the IBC allows fast registration, 100 percent tax exemption, and total control foreigners.

In Antigua you can register this types of companies:

A representative office or a foreign branch

Non-profit organizations

International Business Company

Public and Private Limited Liability Companies

Antigua

The benefits of an IBC

Economically and politically stable jurisdiction

Having a modern offshore financial sector

All shareholders can be foreigners

Exemption for paying taxes, except for foreigners that are subject to global income taxation, such as US taxpayers, who have to let their government know their incomes

Confidentiality, since it is illegal for any information regarding banking details to any third party

They have a liberalized economy free of currency exchange control

Privacy of the shareholders and owners are not included in public records

Your assets will be protected as they are not made known in public records and will remain in the possession of the IBC as separate bodies

Only one shareholder or director is required for the registration process

There is no minimum capital requirement

Their banking system is well-equipped and has strict laws regarding confidentiality

No financial reports filing or annual audit requirements

Antigua

It is required for all IBCs to select a business name different from other legal entities in Antigua. Additionally, it is prohibited to make use of names that are misleading without having the proper licenses.

Antigua

Taxation

The International Business Company does not pay any corporate tax, capital gains tax, withholding taxes, income tax, estate taxes or stamp duties. Also all shareholders can get dividends paid from the income fee of income taxes from the IBC.

No annual financial report filing, statutory audit and annual return filing. Businesses are not subjected to present annual financial statements to state tax authorities. Although the yearly audit and accounting reports are not needed, it is important to keep such documents or records at your legal office.

Uses of an IBC

The International Business Company can be created to carry out various investment or business activities such as:

Protection of the assets or wealth of a family

International investments

Commercial trading

Holding the shares of a corporate company in international companies

Leasing global assets

International trust activities

The flag registration of vessels in Antigua

Antigua

Specificity of the registering

The following documents and steps must be accomplished prior to registration:

Articles and memorandum of association

Appointment of the director(s) of the company

The director’s acceptance letter

Request for name reservation

First board resolution

The register of directors and other members

Certificates of shares owned

Legal address of the company

Antigua

A company registered in Antigua does not require a minimum capital.

Antigua

Term of registering

An International Business Company can be formed within a day, including preparing the application for international business charter, government registration and articles of incorporation.

For more detailed information on company formation in Antigua please contact our specialists!

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