Antigua & Barbuda

Antigua and Barbuda are islands located east-southeast of Puerto Rico between the Caribbean Sea and the North Atlantic Ocean. The Siboney were the first to inhabit the islands in 2400 B.C., but Arawak Indians populated the islands when Columbus landed on his second voyage in 1493. Early settlements by the Spanish and French were succeeded by the English who formed a colony in 1667. The islands became an independent state within the British Commonwealth of Nations in 1981.

Antigua is a popular jurisdiction for obtaining a banking license due to the availability of an unrestricted license at relatively low cost. There is a US$ 1 million paid-in capital requirement but there are no requirements regarding capital reserves. Moreover, no loan ratios are imposed and no physical presence on the island is needed which cannot be provided by a management company. Accordingly, Antigua offers the ability to obtain an unrestricted license (except for a prohibition on doing business with residents of the Caricom area) without the considerable costs associated with most other competitive jurisdictions. Antigua's capital requirement is higher than that of some Pacific islands.

Please note that licensing continues to become more difficult each year due to pressure from the US and our Patriot act.