Antigua Offshore Bank License

Antigua and Barbuda is a small island nation located in the West Indies. While long being a tourist draw because of its natural assets, the nation is also emerging as an attractive offshore financial center for companies looking to locate offshore. The government has made great strides in improving Antigua’s offshore company, digital asset and banking environment through the introduction of new foreign residency, trust, and corporate legislation.

For many years, international commercial banking has taken place on Antigua. However, it was not until 1983 that offshore banks began operating in Antigua and since then their numbers have increased rapidly as well. Antigua’s economy is one of the strongest in this region. The country has relied largely on tourism and offshore financial services, which make up for about two thirds or more its overall gross domestic product (GDP).

Antigua and Barbuda is an ideal location for the formation of an offshore bank. Antigua offers an International Bank License which covers all related banking activities, including accepting deposits and issuing debit cards. The licensure is recognized world-wide and is both cost effective and attractive to correspondent banks.

Advantages of a Antigua Banking License

The offshore banking industry has grown increasingly popular in recent years as complex regulation and an erosion of financial privacy rights continue to drive this trend. Billions are stored on deposit with institutions located offshore, despite an enhanced focus on disclosure and anti-money laundering regulation. Moreover, offshore financial centers have typically thrived during times of economic tumult as is pervasive today.

Antigua Offshore Banking License at a Glance

Resources

The Antigua Banking License Package

• Formation of Antigua international business corporation.

• Preparation and drafting of shareholder & officer agreements.

• Preparation and drafting of narrative business plan.

• Prepare five year financial projections.

• Preparation and drafting of current financial statements

• Preparation and drafting of personal financial statements for owners

• Identification and draft letters naming principal representative and auditor.

• Draft and prepare required bank charter and prospectus

• Preparation and drafting application with Antigua Financial Services Regulatory Commission

• Respond and draft responses to AFSA application inquiries.

• Facilitate and consummate bankcard relationship with Visa & Mastercard

• Preparation and drafting of policy agreements and related documents.

• Facilitate and consummate IBAN/SWIFT and correspondent bank relationship.

• Provide for required physical presence and local director

• Preparation and review of bank deposit, loan and related agreement.

Contact the Antigua Banking License Experts

Our over fifty years’ combined experience in the offshore industry can help you enter this lucrative market. Contact the offshore banking license experts at Finlaw to begin your Antigua Bank License process today! Our knowledgeable and skilled professionals are happy to answer any of your questions.