The beautiful island of Antigua is quite popular for personal relocation due to an exclusive touch of nature and beauty, but what about companies? Well, starting a business in Antigua also has its advantages, which you can read all about in our article about the benefits of relocating to Antigua. Business relocation involves several steps including business registration and certification. In this article, we will explain step by step how to register a business in Antigua.
General Information (FAQ)
What kind of businesses can be registered?
The following businesses can be registered in Antigua:
- International Business Company (IBC)
- Limited Liability Company (LLC) – Private and Public Limited Liability Companies
- Non-profit companies
- Foreign company branch or representative office
What are the requirements?
To operate legally in Antigua, the company must have a license that can only be acquired after finding and registering the business’s name. The cooperation’s name MUST have the words “corporation”, “incorporated”, “limited” or the abbreviation “corp.”, “inc.”, “ltd.” or “a word or abbreviation used in another country to indicate that the liability of the shareholders of a body corporate is limited”. Insurance, trusts, and banking businesses require a separate license.
How long does it take to register a business in Antigua?
The registration process takes 2 days on average to complete.
How much does the registration cost?
To register your business at IPCO, the cost is EC$150.00. To do so through a lawyer who will take care of all the documentation and other aspects, the average cost is about $3000.00. Relocate Antigua offers this service and will ensure your business is securely registered in a professional and timely manner.
The IBC incorporation fee 300 (as are the yearly fees) but, depending on the type of business you’re planning to operate, additional licensing costs can be very high. For example, the class 1 general trust international license fee is USD 10,000, and the class 1 international bank license is USD 40,000.
Disclaimer: The figures quoted here may be changed by the government. We, therefore, do not guarantee that they are current at all times.
What is the business name registration certificate needed for?
The business name certificate is needed to prove that the business in Antigua is legally registered and for other situations including:
- Tax and insurance claims
- For renewal of business licenses
- For customs and immigration purposes
Preparations for business registrations
Companies attempting to be registered in Antigua are required to present:
- Memorandum and Articles of Association;
- Article/Certificate of Incorporation;
- Company Director(s) appointment;
- Acceptance Letter of the company’s Director;
- Name Reservation Request
- First Board Resolution.
- Registration of Members and directors.
- Share Certificate(s)
- Legal address and registered agent of the company.
- Notice of Registered Office
- Application for International Business Charter
- Apostille of the bound set of copies of constitutive documents
Registration Process and duration
|Search and Reservation of the company name- This is done at the Antigua and Barbuda Intellectual Property and Commerce Office where an agent will perform a thorough searching through the Antigua Barbuda Company register to ensure that the name you chose is available and once confirmed you will be able to register by having a special form signed by yourself and your board of directors. This will allow your business name to be reserved for a maximum of three months.||3 Days|
|Preparation of incorporation documents by lawyer- The lawyer or agent will compile and prepare all the necessary documents as listed above, taking care of translations and notarizations.||7-10 days|
|Registration of the company with the ICPO to obtain a certificate of incorporation-/statement of particulars- The statement of particulars form is obtained from the ABIPCO and is needed for the company to register at The Inland Revenue Department.||3-7 days|
|Make a company seal- This is not mandatory but required for everyday transactions||3-7 days|
|Apply for a tax identification number and VAT and ABST identification number- This is done at the Inland Revenue Department. For more information about Antigua tax rates, visit our website or give us a call.||1 day|
|Register for Medical Benefits– Done at the main Medical Benefits Scheme Office in St. Johns. monthly contribution to medical benefit is done by the employer and employees and are the same at 3.5% of the employee’s basic monthly wage. There is no maximum contribution.||1 day|
|Register for Social Security– Register at the Social Security Board located in St. Johns Antigua.||1 day|
|Register for Education Levy at the Board of Education.||1 day|
Our agents at Relocate Antigua will assist you through all of these procedures.
One thing is for sure- Antigua business registration does not have to be a lengthy process, especially if you have the right support. Relocate Antigua’s company formation agents are committed to building strong companies. Our team will ensure that all of the legal procedures are followed correctly from start to finish and deliver to you your licenses and certificates. Get in touch with us for more information about business formation and registration in Antigua.