Antigua and Barbuda is a federal parliamentary representative democratic monarchy. The Monarch appoints the Governor-General, who in its turn appoints a Council of Ministers, headed by the Prime Minister. Executive power belongs to the government, legislative power belongs to the bicameral parliament and the government.

Antigua and Barbuda is a prosperous country with a highly developed tourism industry and financial services, including offshore banking, as well as online gambling facilities and educational services.

The East Caribbean Dollar (XCD) has been adopted as the official currency.

Geography

Antigua is a mainly low-lying limestone and coral territory with some areas of volcanic origin. Boggy Peak is the highest point of Antigua which reaches 402 metres above the sea level.

Antigua has a tropical marine climate; the temperature remains almost constant all year round. Due to significant rainfall variations every year, absence of rivers and large deforestation, Antigua is vulnerable to frequent droughts.

Barbuda is a relatively flat territory, with two-thirds raising only a few metres above the sea level, while one third, called the Highlands, has its highest point reaching 42 metres above the sea level. The whole island is of a limestone origin. Temperature ranges between approximately +20 - + 40 degrees C all the year round. There are no lakes, rivers or streams, underground water is an important source of water.

Map, Flag and Coat of Arms

Types of Company

Domestic corporation

A domestic corporation can take a form of a sole proprietorship, partnership, private or public company limited by shares.

International Business Company

This type of company is often used for offshore business purposes, including trading and holding activities. No minimum capital requirements are set. This type of company should have a licensed registered agent at all times. A company can be incorporated in 24 hours. At least one director is an obligatory requirement. A director may be a company secretary at the same time. Corporate directors are allowed, and there are no restrictions on a director’s nationality or place of residence. In case a company does not conduct banking, insurance or gambling business, no annual financial statements must be submitted. A company may redomicile to and from the jurisdiction.

Branch of a foreign company

If a foreign company wishes to conduct a business activity on the territory of Antigua, it must be registered with the local authorities by sumbitting all the necessary documentation.

Trust

Trust law of Antigua and Barbuda is based on English trust law. Trusts are mainly used for asset protection purposes. There are no restrictions on accumulations, there is no rule against perpetuities applicable to a trust property. Generally, a trust does not need to be recorded, but it may be registered in non-public records on several occasions.


Taxation

Personal

Individuals are liable to pay income tax at varying rates from 0% to 25% depending on the amount of annual income.

Corporate

Corporation tax of domestic companies is levied at a rate of 35%, but is not applied to international business companies.

Withholding taxes are levied at different rates, according to each particular case. Export duties are levied on sugar, lobsters, fish, molasses and sea island cotton. Property tax and consumption tax are applicable on certain occasions at different rates.

More Information

Click here for more information about creating a Antigua and Barbuda Offshore Company.