General Overview. The jurisdiction follows English Common Law principles and goes proud of its good governance, political and economic stability. Already in the 80th of the XX century, it was the aim of the government to develop the jurisdiction as an attractive centre for offshore banking. There are strong confidentiality provisions in Antigua and Barbuda. The identity of business owners and/or beneficiaries may be disclosed only with the court ordinance when a criminal matter is being under investigation. There are no exchange controls in the jurisdiction.
Trusts. Antigua and Barbuda is a popular destination for creating different types of trusts. An offshore trust does not need to be recorded, but it may be inserted in non-public records with the authorities, and in such a case a relevant certificate is issued. No restriction on accumulations is applied, and there is no rule against perpetuities.
Insurance. In order to conduct an insurance business, it is necessary to obtain a governmental insurance license for it. A fixed capital of USD 250,000 must always be maintained, and an insurance company is liable to submit annual audited statements.
Banking. A number f banks conduct their banking activity from the jurisdiction, offering modern banking services to their international customers. There is a precisely outlined procedure for obtaining a banking license, which is strict, but at the same time convenient in comparison to other offshore jurisdictions. Many international entities choose an offshore bank of Antigua and Barbuda as their banking partner.
Online Gambling. Online gambling companies are regulated by the local authorities, and are liable to pay 3% of tax on their net profit. An applicant must follow a precisely defined procedure, in order to obtain an online gaming license.
Ship Registry. The jurisdiction offers efficient ship registration procedures for competitive prices in comparison to other offshore countries. Different types of vessels may be registered there.