The short answer is yes, it is! It is one of the best in the World! But let us show you why.
If you have ever found yourself daydreaming about sipping piña coladas on a tropical beach while your money does all the hard work, you are not alone. Many folks have been tempted by the siren call of offshore companies. Today, we are setting sail for the sunny shores of Antigua and Barbuda to find out if it is the ultimate hideout for your hard-earned cash. So grab your sunscreen and sense of adventure because we are about to embark on a journey to uncover whether Antigua is the tropical treasure trove you have been searching for!
Before we dive into the sunny World of Antigua and Barbuda, let’s talk a little bit about offshore companies since there are a lot of myths out there scaring possible investors away from this fantastic tool for financial growth. An offshore company is basically an entity set up in foreign countries—as simple as that! This is done for all sorts of reasons, from reducing taxes to protecting assets.
Thanks to Hollywood, the mere mention of “offshore companies” can conjure images of shady deals and briefcases full of cash. It is as if every offshore company is just a front for a nefarious tax evasion scheme. While it is true that some people misuse offshore companies for less-than-legal purposes, the truth is far less dramatic. Having an offshore company is perfectly legal.
But where should you set up your offshore company? Names like the Cayman Islands, Belize, or Panama may pop into your head as tax heaven. However, there are many other countries that offer as good conditions for new companies as these countries without the upcoming problems related to this role of being tax-free countries (mostly related to relations with banks that may be a bit careful about working with companies set in these countries).
This is where Antigua and Barbuda comes for the win. Thanks to its high tourism rate and growing popularity as an offshore banking jurisdiction, this country is one of the richest in the Caribbean and is ready to welcome your company!
Setting up an International Business Corporation (IBC) in Antigua and Barbuda can benefit foreign entrepreneurs. Here is why:
1. Easy Formation Process: You only need one director and one shareholder, who can be the same person or legal entity of any nationality. There’s no minimum capital requirement, and all shareholders can be foreigners. You can register an Antiguan IBC within one day, and opening an offshore bank account is straightforward.
2. Tax Benefits: Antigua and Barbuda offers a tax-friendly environment for IBCs. These companies pay no taxes, and there’s a fifty-year tax exemption for Antigua IBCs. This exemption covers most income, dividends, interest, and royalties paid by and to foreigners.
3. Privacy and Asset Protection: The names and assets of beneficial owners and shareholders of an Antiguan IBC are never made public.
4. No Reporting Requirements: While there’s no need for annual audits or reporting, an IBC must maintain financial records reflecting the company’s financial position.
Now that your company is set in Antigua and Barbuda, you need an excellent place to rest your head after a good day of making money! It is time to look for your fantastic villa overlooking the clear blue waters of the Caribbean Sea, and nobody is better to help you with that than Parklane Properties. With extensive experience and an incredible portfolio of villas in Antigua, you are guaranteed to find your dream house in no time!
