Your Quick Guide to Antigua Company Registration
Antigua is a popular vacation destination and an increasingly desirable location for entrepreneurs to start a business. The island’s thriving tourism industry provides a ready-made customer base, while its favourable tax rates offer an attractive financial incentive. In addition to these advantages, the Antiguan government actively supports entrepreneurs by providing resources and assistance through agencies such as the Antigua and Barbuda Investment Authority and the Small Business Development Centre. These entities offer financial and technical support to small and medium-sized enterprises, which can help new business owners overcome obstacles and succeed.
With its stable political climate and proactive government, Antigua provides an excellent destination for entrepreneurs seeking to establish a business in the Caribbean. Foreign investors are welcomed in Antigua and can own 100% of their businesses, enjoying the same rights as local investors. This makes the island an attractive destination for foreign entrepreneurs looking for a stable and supportive business environment.
What Are the Steps for Antigua Company Registration?
Setting up a business in Antigua is straightforward, with clear guidelines provided by the government. For a successful company incorporation here, you’ll need to complete several registration steps, and they are as follows:
Reserve a Company Name
First, head to the Antigua and Barbuda Intellectual Property and Commerce Office to search for and reserve your company name. An agent will thoroughly comb through the Antigua Barbuda Company register to ensure your chosen name is available. Once confirmed, you’ll need to complete a form signed by you and your board of directors to reserve the name for up to three months.
Prepare Your Legal Documents
A lawyer or agent will compile and prepare all the necessary incorporation documents, handling translations and notarizations. Then, you’ll need to register your company with the ICPO to obtain a certificate of incorporation or statement of particulars, which you can get from the ABIPCO. This is necessary for registering your company with The Inland Revenue Department.
Get a Tax Identification Number
Although not mandatory, making a company seal is required for everyday transactions. You must visit the Inland Revenue Department to apply for a tax identification number, VAT, and also the ABST identification number.
Registering for Social Security
In addition to these steps, you need to register for medical benefits and social security. Head to the main Medical Benefits Scheme Office in St. Johns to register for medical benefits, which require a monthly contribution from the employer and employee. The contribution is 3.5% of the employee’s basic monthly wage with no maximum contribution. You’ll also need to register for social security at the Social Security Board in St. Johns, Antigua.
Skip the Headache
If you’re overwhelmed about starting a business in a new environment, don’t worry – we’re here to help. Our team of experts at 3E Accounting is available to assist. With years of experience and a track record of establishing thousands of companies worldwide, our multidisciplinary specialists are well-equipped to guide you through the process. Contact us to get started on your business journey!
