Antigua Offshore Company
In 1982, the Antigua International Business Corporations Act became the principal piece of legislation for the institution and ruling of International Business Companies, to compete aggressively in a very competitive environment; Antigua put in place several fiscal incentives and ensures the offshore company in Antigua would be attractive to investors from all over. Under the Antigua offshore companies act, all IBCs formed are exempt from taxation on income, dividends, interest and royalties for a guaranteed prior of fifty years. There are no capital gains taxes, or estate/inheritance taxes.
Antigua and Barbuda offshore companies may be used for many types of businesses and are often used for:
- Financial planning/asset management.
- Commercial trading activities.
- Security market investing
- Real estate activity
- Aircraft and ship ownership
- Trademark, royalties and patent Ownership
An Antigua company used for offshore purposes does not have to undergo any type of audit, nor does the company have to reports to any local authority. In fact, the company‘s records and its office of operations do not have to be in Antigua and can be anywhere in the world.. With regard to capital, there is no minimum requirement. Bearer share are allowed and shares may have a nominal or no par value.
Antigua offshore corporations, similar to Belize corporation, are flexible corporate structure and can be formed with just one shareholder and one director and the directors may be natural persons or corporate entities. Officers of the Antigua offshore company, such as directors, shareholders, secretary (if placed) do not have to be citizens of Antigua, in fact, they may hold any nationality.
Adding to the flexibility of the Antigua Company, the director and shareholder meetings can be conducted anywhere in the world.
Under the Antigua International Business Corporations Act of 1982 and the amendments, confidentiality and privacy are assured. The offshore company’s Act in Antigua forbids anyone including banks and professionals such as attorneys, government official, secretaries and the like from disclosing information imparted under conditions of business or professional confidence. The act includes all information from incorporation and post commercial transactions arising in Antigua and Barbuda or outside of Antigua and Barbuda. Further, corporate mobility is allowed by the way of inward and outward re-domiciliation. There is no requirement for disclosure of the beneficial ownership.
An offshore company incorporated in Antigua cannot do business within Antigua and Barbuda or within the Caribbean Community (CARICOM). Neither can the Antigua Corporations use the EC Dollar, the currency used by Caricom, to do business. Other than these locale limitations, the Antigua offshore company may do business any where off-shore. But while doing so, there here is no exchange controls in place and offshore Antigua companies can do business in any other currency without restrictions. Unrestricted operation of bank accounts is permitted.
A registered agent must be used in the process to incorporate an Antigua IBC. An article of Formation containing the: name of the Antigua Company, the name and address of the registered agent, the number of shares to be issued, the types of shares for the Antigua company the names and number of Company shareholders, the names and numbers of company directors, the nature of the business of the Antigua offshore Company. While all this information is provide in the Articles of Formation for the Antigua offshore Company, the names of the beneficial owners, and the directors of the Antigua Company and information concerning these individuals are not made public in tax haven Antigua. There is a statutory requirement that Antigua International Business Corporation keep the corporate records at its Registered Office in Antigua and Barbuda.
Incorporating of an Antigua Offshore corporation is speedy, taking about one working day to complete the incorporation of Antigua Companies.
Antigua Offshore companies are generally created to protect assets; to minimize or defer taxation; to facilitate financial privacy; and/or to minimize economic risks.