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 lovely vacation spot for worldwide corporations and excessive net-worth people who want to shelter their cash from taxation overseas. That stated, 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 essential to contemplate 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 earnings on or off the island.
Firm formation in Antigua and Barbuda: Varieties of companies
- Personal or public Restricted Legal responsibility Firms (LLCs) – Antigua and Barbuda-based corporations that do enterprise on the islands. House owners, administrators and/or shareholders take pleasure in restricted legal responsibility for the money owed and obligations of the LLC.
- Non-profit corporations – A non-profit organization must have one of the following focuses to be able to qualify: patriotic, non secular, philanthropic, charitable, academic, scientific, literary, historic, creative, social, skilled, fraternal, sport or athletics.
- Worldwide Enterprise Companies (IBCs) – Firms or traders that arrange a subsidiary of their international operations in Antigua and Barbuda. This generally is 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 earnings 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 corporations, international companies or traders domiciled in Antigua and Barbuda as an IBC take pleasure in a lot of perks.
Firm formation in Antigua and Barbuda: Benefits of registering as an IBC
Traders, corporations, and/or multinational companies 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 should not required to pay any tax in Antigua and Barbuda
- No requirement to file accounts
- Firm possession isn’t publicly disclosed
- IBCs have the choice to ascertain a bodily workplace in Antigua
- They’re free to financial institution anyplace
- They’re exempt from paying business-related customs and duties
If readers of this text assume that making a transfer into Antigua and Barbuda sounds enticing, they need to additionally take into account firm formation in Barbados. The Caribbean neighbors share lots of the similar tax benefits, however Barbados doesn’t endure from the unfavorable connotations that include being labeled a tax haven.
There are much more goodies on provide for overseas traders who don’t thoughts making a bigger footprint on the island nation. Apart from 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 type of enterprise funding, the investor and his/her partner, youngsters, mother and father and siblings are all eligible to grow to be residents of Antigua and Barbuda.
And since there isn’t any wealth or inheritance tax or capital good points tax on any international revenue, the investor’s youngsters and different relations can obtain their inheritance tax-free.
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
- Gather filed paperwork from the Antigua and Barbuda Mental Property and Commerce Workplace (ABIPCO)
- Register for enterprise and statutory deductions
- If accepted, 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 software course of. Not less than a type of reps needs to be an legal professional.
- 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 tackle abroad
- An software for an Worldwide Enterprise Constitution should even be filed
Biz Latin Hub can assist you with firm formation in Antigua and Barbuda
At Biz Latin Hub, our multilingual workforce of firm formation specialists has broad expertise supporting overseas executives beginning companies all through Latin America and the Caribbean. We’ve got 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 overseas traders — together with authorized, accounting, and recruitment help — we’re prepared that will help you obtain your small business targets in Antigua and Barbuda.
Attain out to us now for personalised help or a free quote.
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