September 20, 2023

The island nation of Antigua and Barbuda is well-known for its pure magnificence, sunny, tropical climate and pristine seashores. However what’s not so well-known is that the Caribbean nation is a gorgeous vacation spot for worldwide firms and excessive net-worth people who want to shelter their cash from taxation overseas. That mentioned, firm formation in Antigua and Barbuda is a comparatively straight-forward course of.

Earlier than diving into firm formation in Antigua and Barbuda, it’s necessary to think about which sort of enterprise one needs to include there, and within the case of the tax benefits on provide, whether or not or not the enterprise will generate income on or off the island.

Firm formation in Antigua and Barbuda: Forms of companies

  • Non-public or public Restricted Legal responsibility Firms (LLCs) – Antigua and Barbuda-based firms that do enterprise on the islands. Homeowners, administrators and/or shareholders take pleasure in restricted legal responsibility for the money owed and obligations of the LLC.
  • Worldwide Enterprise Companies (IBCs) – Firms or buyers that arrange a subsidiary of their world operations in Antigua and Barbuda. This could be a bodily or on-paper-only presence. These entities are free to do enterprise internationally with out limitations on worldwide cash transfers.

Companies that do firm formation in Antigua and Barbuda with the intention of doing enterprise/generate income within the home market are topic to a 25-percent revenue tax fee. For the needs of this text, we are going to concentrate on the kind of firm the place the actual attraction lies – IBCs.

Also referred to as offshore firms, world firms or buyers domiciled in Antigua and Barbuda as an IBC take pleasure in plenty of perks. 

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Firm formation in Antigua and Barbuda: Benefits of registering as an IBC

Buyers, firms, and/or multinational firms that register within the island nation as an IBC will take pleasure in the next advantages:

  • IBCs can conduct worldwide enterprise with no limits on the place the company strikes its cash
  • IBCs usually are not required to pay any tax in Antigua and Barbuda
  • No requirement to file accounts
  • Firm possession is just not publicly disclosed
  • IBCs have the choice to determine a bodily workplace in Antigua
  • They’re free to financial institution wherever
  • They’re exempt from paying business-related customs and duties

If readers of this text suppose that making a transfer into Antigua and Barbuda sounds engaging, they need to additionally contemplate firm formation in Barbados. The Caribbean neighbors share lots of the identical tax benefits, however Barbados doesn’t undergo from the destructive connotations that include being labeled a tax haven.

There are much more goodies on provide for international buyers who don’t thoughts making a bigger footprint on the island nation. Other than firm formation in Antigua and Barbuda, foreigners who make investments $100,000 USD or extra on the island are entitled to use for twin citizenship. By buying a house or different property, contributing to the state college fund or making any form of enterprise funding, the investor and his/her partner, youngsters, mother and father and siblings are all eligible to turn out to be residents of Antigua and Barbuda. 

And since there is no such thing as a wealth or inheritance tax or capital beneficial properties tax on any world revenue, the investor’s youngsters and different relations can obtain their inheritance tax-free. 

Doing business in Antigua, an infographic by Biz Latin Hub for an article on company formation in Antigua and Barbuda
When wanting into Firm Formation in Antigua and Barbuda, it’s necessary to take a look at its market

Firm formation in Antigua and Barbuda: A 12-step information

The next lists define the incorporation stage, in addition to the Worldwide Enterprise Company registration stage, of firm formation in Antigua and Barbuda:

1. Firm incorporation:

  • Seek for and register enterprise title
  • Full the Enterprise Registration type
  • Request assertion of particulars
  • Accumulate filed paperwork from the Antigua and Barbuda Mental Property and Commerce Workplace (ABIPCO)
  • Register for enterprise and statutory deductions
  • If permitted, the corporate might be issued a Enterprise Title Registration Certificates

2. IBC registration:

  • Two firm representatives who’re each residents and residents of Antigua and Barbuda are required to start the IBC utility course of. No less than a kind of reps must be an lawyer.
  • Submit all signed articles of incorporation
  • Draw up and submit a Memorandum of Affiliation (MOA)
  • Present the names of the corporate’s administrators
  • Submit all particulars concerning the firm’s official handle abroad
  • An utility for an Worldwide Enterprise Constitution should even be filed

Biz Latin Hub might help you with firm formation in Antigua and Barbuda

At Biz Latin Hub, our multilingual crew of firm formation specialists has broad expertise supporting international executives beginning companies all through Latin America and the Caribbean. We’ve workplaces in over 16 international locations across the area and trusted companions in lots of extra. With our robust track-record of offering complete back-office providers to international buyers — together with authorized, accounting, and recruitment help — we’re prepared that will help you obtain your corporation objectives in Antigua and Barbuda.

Attain out to us now for customized help or a free quote.

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