GENERAL

Status: Independent state
Location: North-East Caribbean
The State of Antigua and Barbuda comprises the islands of Antigua and Barbuda, and the uninhabited island of Redonda. The islands lie approximately 1,200 miles south-east of Miami.
Area: Antigua measures 280km2, Barbuda measures 161km2, and Redonda measures 1.6km2
 Capital: St John’s
Population: 78,000
Business language: English
Currency: Eastern Caribbean Dollar (EC$). EC$1=100 cents
Time zone: GMT -4, Atlantic Standard Time Zone
Business hours: Mon to Fri 8.00am to 4.00pm
Climate: Tropical
Average Temperatures: 24ºc - 30ºc

IMPORTANT CONTACTS

High Commission for Antigua and Barbuda
Antigua House
15 Thayer Street
London
W1M 5LD
Tel: + 44 207 486 7073/5
Fax: + 44 207 486 9970

Antigua Chamber of Commerce
PO Box 774
Redcliffe Street
St John’s
Antigua
Tel: + 1 268 462 0743

Antigua and Barbuda Department of Tourism
Thames Street
PO Box 363
St John’s
Tel: + 1 268 462 0480

EXPAT EMPLOYMENT DETAILS

All non-nationals of Antigua and Barbuda require work permits for employment in the state. This is not normally a problem for professionals working in the international business sectors.

COMMUNICATIONS

Antigua has good international communications with both Europe and North America. The principal carriers are British Airways, Lufthansa, Balair, BWIA, American Airlines and Air Canada.

POLITICAL AND ECONOMIC STABILITY

Antigua and Barbuda has a long history of political and economic stability. It has been an independent state since 1981, and is a member of the British Commonwealth of Nations. Tourism is the main industry and Antigua is one of the fastest growing tourist destinations in the region. Unemployment is low and is estimated at 2% to 3%.

KEY ACTIVITIES

Tourism is the key activity of Antigua. There are numerous international banks present on the island, and other general business activities flourish. Shipping is also an important industry for the island.

ADVANTAGES OF ANTIGUA AND BARBUDA

  • For international business, legislation exists for banking, insurance, trusts (a modern trust act is being drafted) and other IBC’s
  • Antigua and Barbuda has nil taxation (no income, capital gains, estate, transfer, withholding or other taxes)
  • There are no exchange controls
  • The government guarantees a 50 year tax-free status
  • There is ready repatriation of capital and profits, banking secrecy and confidentiality, and corporate mobility
  • There are excellent international communications by air, sea, telephone and fax, and Antigua and Barbuda is strategically placed to deal with both European and North American investors in their time zone

The content of this factfile is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

This factfile also appears in the 'International Offshore and Financial Centres Handbook 1999/2000'. For further information about this highly informative guide to offshore centres, or to order your copy, please phone +44 (0) 207 820 7733 or send an email to iofch@mondaq.com