Antigua Bank License

The procedure of acquiring an offshore Antigua bank license is complex and lengthy, thus it is advised to seek the assistance of a consultancy firm which is experienced in this industry. An Antigua bank license will enable the holder to conduct offshore banking services with individuals who are non-residents and businesses which are not registered with the Antigua authorities.

Acquire an Antigua Bank License

Antigua’s banking system is regulated by the International Financial Sector Authority (IFSA) which follows the International Business Corporations Act. The main objective of the IFSA is to regulate the financial services sector and recommend regulations for the IBC act to improve administration. The IFSA also administers the IBS act including issuing certificates of incorporations and licensing corporations to conduct international banking.

In order to obtain an Antigua bank license, a minimum capital of US$5 million is required, of which US$1.5 million must be deposited in a local Antigua bank to be available to the IFSA when necessary. The International Banks Supervisor is responsible for issuing bank licenses, which have a strict list of requirements in addition to the minimum capital criteria.

The requirements to obtain an Antigua bank license include:

  • A minimum of one director.
  • The director must be an Antigua or Barbuda citizen and resident.
  • Submitting a document containing relevant personal information of directors and shareholders.
  • Submitting financial returns every 3 months to the International Banks Supervisor.
  • Annually submitting an audited financial returns report.
  • Submitting documents detailing financial returns.
  • Submitting certificate detailing bank owners, directors and officers.

Antigua is favored by foreign investors not only because of its favorable tax system but also due to the safe and secure banking environment the jurisdiction offers. This is ensured by the IBC act in affiliation with the Money-Laundering Act ensuring a stable offshore banking location.

An offshore Antigua bank license permits the license holder to engage in banking activities with individual and companies worldwide, excluding Antigua residents and registered companies. It is recommended to employ a professional consultancy firm to administer all relevant documentation to ensure that you acquire your Antigua bank license in a professional and timely manner.