Going Offshore - Crowe Horwath International

Horwath MAK
Member Crowe Horwath International
SN DETAILS ANTIGUA
1 Types of company: Local and IBCs.
(a) Type of company preferred for international transactions: IBCs
as trading and holding companies.
(b) Shareless companies: Only available for domestic companies
doing business in Antigua and Barbuda.
2 Capital requirements: There are no minimum requirements for IBCs except for licensed
institutions such as banks, trusts, insurance and gaming
companies.
3 Fees paid to authorities Domestic companies pay USD 85 and IBCs pay USD 300.
to incorporate:
4 Annual fees paid to
authorities:
Domestic companies pay USD 75 and IBCs pay USD 300.
5 Taxation rates applied to
companies generally:
6 Minimum number of
members:
Domestic companies: 35%, IBCs: Zero.
(a) The taxation of companies in 2(a): Zero.
One director required for IBCs.
7 Directors and secretary: One director who may also be the secretary.
(a) Must there be a resident director/secretary? No
(b) Are corporate directors allowed? Yes, and in the case of
licensed IBCs all directors must be natural persons.
(c) Is a local registered agent required? Yes, in the case of IBCs,
Attorneys, Professionals and companies are required to be
licensed under the Corporate Management and Trust Service
Providers Act.
(d) Are "shadow" directors required to be registered? All directors
are required to be registered.
8 Amount of fees payable USD 300 / USD 1,000 per annum for non-licensed IBCs.
to appointee directors/
secretary:
9 Annual meetings: Annual directors/shareholders meeting are required.
10 Is an annual return filed
with details of directors
and members?
Yes for all licensed IBCs and for local companies. Details of the
directors are submitted to the Commission for approval before
appointment. No change of director can be made without approval
from the Commission.
Audit | Tax | Advisory | Risk
© 2013 Horwath Mak 5