Introduction
Moving to paradise may sound like a dream come true, but sooner or later you will need to consider a means of sustaining yourself and your family. Of course, there is the option of finding a job but what can be better than being your own boss? Starting a business in Antigua Antigua may not be as difficult as you might think and with Relocate Antigua on your side, the process will be even easier. But before you get to the planning and registration stages, you will need to first decide what kind of business you want to have. In this article we will highlight some of the best Caribbean business ideas.
Doing Business in Antigua
Antigua is known to be the destination of great business opportunities, well on its way to becoming an economic powerhouse. So, what is the business environment like in Antigua? Well, one of the things that tend to attract investors from all over the world is the presence of a very favorable tax atmosphere: Residents of Antigua and Barbuda are granted tax residency which makes them exempt from a list of taxes including inheritance tax, income tax and wealth tax.
It is for this reason that many investors choose to start businesses here. Furthermore, the process to incorporate a business is not as difficult as it may be in other places. Starting a business and getting it registered does not have to be a hassle with Relocate Antigua’s dedicated team assisting you. For more insight on Antigua taxes, refer to our Antigua taxes articles.
How to start a business in Antigua step by step
- Choose your niche.
- Find and register your business name.
- Process incorporation documents
- Register at the ICPO (Intellectual Property and Commerce Office) for the statement of particulars.
- Apply for TAX ID from the inland Revenue Department.
- Register your business with Medical Benefits, Social Security, and Education Levy.
As we mentioned previously, starting a business in Antigua is an easy process. For more information on this process, you can read our article on how to start a registered business in Antigua.
Not based in Antigua? Let us help you find the right employees to run your business for you. Get in touch with us today.
Most common profitable Businesses
Bed and Breakfast
Ever wondered why the bed and breakfast business has been significantly thriving all over the world? Well, for one, the convenience of this type of accommodation is something that allows travelers privacy, and flexibility. Starting a bed and breakfast in Antigua can turn out to be a profitable investment, and with the availability of incredible real estate properties, your venture is likely to be a successful one.
This type of business, however, requires consistency and attention to detail. Whether it’s for a day or two, guests will appreciate a calm, impeccably clean, organized environment. Bed and Breakfasts are unique in the sense that they mix luxury, comfort, and privacy with affordability and authenticity.
As with everything else, we will assist you with finding the right property for your bed and breakfast business venture in Antigua. We also offer quality property management services so you can rest assured that your property will be in good hands in your absence. Furthermore, if you require private chef services, a personal assistant, or a personal shopper, just let us know.
Boutique Hotel
Tourism is the main industry in Antigua, so any form of accommodation business will be a great investment, but boutique hotels make it to the top of the list. These are highly demanded by upscale tourists who are seeking a more luxurious space to relax and enjoy the Caribbean experience.
Creating your Beachfront boutique hotel in Antigua will be a great investment. A successful hotel should feature different room types from standard to deluxe to luxury and offer all-inclusive deals that will attract guests.
Casino
If you want to start a business that will turn over profits in a short period, then a casino might be your answer. Gambling is a very popular pastime for tourists as well as locals in Antigua, so this can turn out to be a great venture for you.
The land-based casino industry has always played a vital role in Antigua’s economy and there are several casino businesses on the island. Be sure to plan accurately and organize efficiently if you want to make the best of your investment. We will assist you in acquiring all the necessary licenses and permits required to start your casino business in Antigua.
Coffee Shop
This is a very good idea if you just want a small yet profitable business venture. Coffee shops tend to offer customers a relaxing atmosphere outside of home or work to unwind. Like the restaurant business, starting a coffee shop means you have to invest a lot of finances, creativity, and consistency to make it a success. Simply put, it will take more than making cups of coffee.
The location, décor, and general ambiance of the place should be inviting to customers and offer the best customer service. Some great coffee shop ideas for Antigua include:
- Drive-through coffee shop
- Food-truck coffee shop
Uncommon Business Ideas
At Relocate Antigua, we encourage out-of-the-box thinking. The following are some very uncommon business ideas for Antigua.
Amusement Park or water park
Amusement park in Antigua
If you have substantial money to invest and are looking for an idea that will not have a lot of competition, then starting an exciting and unique amusement park in Antigua can be a super successful venture. The main reason is that there are virtually no amusement parks on the island so there will not be much competition. Likewise, waterparks are also a great option and could be built on one of the many beaches in Antigua. The island’s economy could certainly benefit from such an investment and your business will benefit from the large profits that will flow.
Cat Café
This is a unique twist to a normal café that will have animal lovers coming back daily. At a cat café, customers can relax, enjoy the refreshment of choice, and pet the cats. This is a theme café that originates in Japan and later made it to the international scene. Most hotels in Antigua do not allow pets and this will be a great opportunity for cat lovers to relax in the presence of these peaceful and affectionate creatures.
Some other Caribbean business ideas include:
- Book publishing company
- Moving company
- Flower shop
- Daycare
- Cooperate-event planning.
Antigua Citizenship by Investment
Starting a business in Antigua is one of the ways in which you can obtain citizenship in Antigua. For instance, you can get citizenship by buying a property that can be used as a bed and breakfast business.
Another option would be to invest in an existing government approved business. Generally, there are two business investment options:
- A principal applicant makes an investment in an approved business with a minimum investment of US$1,500,000
- Two or more applicants make a joint investment in an approved business contributing the minimum of US$400,000.
Once approved, you will be required to pay all of the due diligence and processing fees of the Antigua and Barbuda citizenship by investment program. Get in touch with us or visit our website to know more about this opportunity.
Conclusion
Starting a business in Antigua takes passion, consistency, and creativity. No matter the idea you choose, if you plan properly and pursue it with determination, you will certainly succeed. Relocate Antigua will be by your side every step of the way. We will guide you through the processes and ensure that your business venture in Antigua is successful and profitable. Get in touch with us today to start planning.
