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Antigua Offshore Company Formation

The offshore tax haven of Antigua is one of the well established offshore jurisdictions found in the Caribbean. The tax haven allows for the formation of offshore companies and offshore banking among other services in the jurisdiction. Offshore company formation is an easy process to complete in the tax haven. Antigua offshore companies are most often used for trading. These companies can be used for undertaking business anywhere in the world.

Offshore Company formation in the offshore tax haven of Antigua according to the International Business Company Act of the tax haven can be carried out by two (2) resident citizens of Antigua. One of the persons registering the offshore company must be a Barrister or Solicitor. The offshore company must have a registered agent in Antigua according to legislation. Persons who act as registered agents are mostly lawyers and accountants. A registered trust may also incorporate an Antigua offshore company. The resident agent is responsible for the incorporation documents of the company and also acts as a liaison between the owners of the company and the Registrar of Companies in the offshore tax haven.

For the Formation of International Business Companies (offshore Companies) in Antigua the standard procedure is to file with the Registrar of Companies a Memorandum of Association and Articles of Association. The information to be included for offshore company formation is the following:

  • The name of the company( a request for company name must be made with the Registrar of companies)
  • The name and address of the company directors
  • The purpose for forming the company
  • The authorized share capital of the company
  • The types of shares to be issued by the offshore corporation
  • The number of each type of share to be issued
  • The right, limitations, powers and privileges attached to each class of share if more than two classes of shares are issued
  • State if the corporations is entitled to transfer shares of not the limitations places on the company in regards to the transfer of shares
  • The name and address of the registered agent
  • The address of the registered office in Antigua
  • The by-laws of the corporation

The documents submitted will be carefully inspected by the Registrar of Companies who will issue a Certificate of Incorporation to the offshore company. Once incorporated an Antiguan offshore company is recognized by laws of the country. An Antiguan offshore company can do business anywhere in the world. Offshore companies formed in Antigua are mostly used for offshore trading purposes. The usual time frame for the offshore formation of companies in Antigua is one (1) day. The

When considering offshore company formation in the tax haven of Antigua the company name must be carefully chosen. The Registrar of Companies can refuse to incorporate an offshore company in Antigua if he or she finds the name chosen to be offensive. Offshore company registration will be denied in Antigua if the name chosen was already reserved for use by another corporation or the name is similar to a company already incorporated. For offshore company formation in Antigua the companies must add the word Limited, Incorporated, Corporation, Sociedad Anonima or the abbreviations for the words mentioned above. This is to show that the shareholders of the company have limited liability. Offshore company names cannot show any affiliation with local or national government in the offshore jurisdiction of Antigua.

Antigua offshore corporations may act as one of the following companies if a license has been sought and granted by the relevant authorities in the offshore tax haven: Bank, Fund Management, Insurance, Assurance, Loans and Savings, Reinsurance, Trustee, Trust, Investment Management, Building Society, Chamber of Commerce, Asset Management and Chartered among others.

When forming an offshore company in the tax haven of Antigua the minimum number of directors required is one (1). The director of an Antigua offshore company can be a natural person or corporation. Antigua offshore companies which operate as Banking, Trust or insurance companies must have at least director who is a resident of the tax haven of Antigua. Directors for these companies must be natural persons. According to offshore company legislation of the tax haven the directors of offshore companies in Antigua are responsible for managing the affairs of the company. The number of shareholders needed for formation of an Antigua is one (1). The shareholders for an Antigua offshore company can be a corporation or natural person.

An offshore company incorporated in the offshore tax haven of Antigua must appoint a company secretary. The company secretary for the offshore corporation must be a natural person who is a resident of the tax haven of Antigua.

For Antigua offshore company formation there is no minimum authorized share capital. The usual start up share capital for most offshore companies in Antigua is US$50, 000. The minimum capital to be issued by an offshore company in Antigua can be a share or par value or no par value. The offshore company legislation of Antigua allows international business companies in the tax haven to issue the following types of shares: registered shares, bearer shares, preference shares and redeemable shares. Shares in an Antigua offshore corporation can be share of par value or no par value. Antigua offshore corporations can also issue shares with or without voting rights.

Offshore company formation in the tax haven of Antigua has many benefits among them tax exemptions. Offshore companies formed in the tax haven of Antigua cannot do business within the territory. All incomes gained abroad will not be tax locally this therefore means that offshore corporations incorporated in Antigua operate tax free. The offshore company legislation of Antigua guarantees offshore companies fifty (50) year period of tax exemptions beginning form the day of incorporation. In the tax haven of Antigua an offshore corporation will benefit form no capital gains tax or estate tax. The Antigua offshore company has an obligation to pay an annual license fee to the government.