Offshore Corporate Accounts with Antigua and Barbuda Bank in the Caribbean

As of late, Antigua and Barbuda has turned into an appealing investment jurisdiction for HNWIs and global corporations seeking a supportive economic base to expand their business and banking operations. 

The independent Caribbean jurisdiction is the center of interest for HNWIs and major global corporations. Due to its citizenship by investment program (a.k.a. CIP), the country managed to strongly reinforce its position among foreign developers and non-residents that seek immigration opportunities with permanent residency potential.

Antigua and Barbuda is an excellent choice for offshore companies pitch-perfect with allocating resources and diversifying capitals in line with current tax requirements and partner geography. In the above context, Antigua and Barbuda banks maintain all their advantages. They offer a wide variety of services to non-resident businesses. To enjoy them, bank customers don’t have to even visit their banks since everything can be done remotely.

Antigua and Barbuda banking

The Antigua and Barbuda bank is a first-of-a-kind financial institution in the Caribbean. As such, it offers a wide variety of services to both its retail and corporate clients.

The bank distinguishes itself as a reputable organization that treats all banking issues in a thorough and serious fashion, its internal environment being no exception to the above rule. The Antigua and Barbuda bank entrusts tech development and investment customer services to a dedicated team of experts that comes with a competitive e-commerce app and a cutting-edge Globex Secure online banking platform.

The Globex Secure platform is among the hallmarks the Antigua and Barbuda bank is renowned for. It boasts wholesale banking opportunities with a number of business lines for retail customers as well as international corporations and listed entities allowing the latter to control and manage their investment assets, trading activities, and corporate transactions. 

Potentially, banking in Antigua and Barbuda may be appealing to the following customer categories:

• HNWIs and organizations
• overseas businesses
• mortgage advisors
• large and medium-sized corporate clients
• global offshore business structures
• developers and investors.

The Antigua and Barbuda bank in the Caribbean comes with a wide service range. Its services are global in nature and span all business lines:

• international financial transactions (including, inter alia, incoming and outgoing ones)
• electronic data processing
• maintenance of high-rate long-term deposits
• immigration and citizenship by investment (CBI) in Antigua and Barbuda
• trade and export financing services to support import and export operations as well as customers like banks, pension funds, and credit unions
• fiduciary services associated with buying, selling, and exchanging bonds, securities, and digital assets.

The Antigua and Barbuda bank focuses on growing their customer’s capitals to the max. This is made possible due to investment products like settlement accounts with interest income depending on the account balance. In the Antigua and Barbuda bank in the Caribbean, multi-currency accounts fall into USD, EUR, GBP, and CAD ones.

Corporate accounts with Antigua and Barbuda offshore bank

Preparing the required documents and submitting them to the Q Wealth experts is all it takes to have an offshore corporate account in the Caribbean set up for your overseas company. We’ll handle the rest, with no involvement on your part necessary.

Documents overseas companies submit to have bank accounts in Antigua and Barbuda set up for them

Company founders and directors submit the documents listed below:

• notarized copy of the applicant’s foreign passport, together with the contact info for the courier, including the recipient’s full name and delivery address
• proof of residence
• reference letter from the bank
• application to open a corporate account for a non-resident company with the Antigua and Barbuda bank
• set of notarized corporate documents you will receive from your registered agent, including Certificate of Incorporation, Certificate of Good Standing, Memorandum and Articles of Association, Registered Shares or Share Register, Director Appointment Resolutions and amendments thereto.

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Antigua and Barbuda bank rates for corporate customers

The above rates include invoices and service rates, as well as tariffs in force in the Antigua and Barbuda bank. Taken together, they result in a comfortable environment for private investors, founders, and overseas corporations.

Operating accounts 

An operating account is the one overseas companies employ the most. They use operating accounts to make corporate investments, carry out escrow transactions, make CIP payments, etc. No account balance interest is provided for in case of operating accounts, and the minimum account balance (a.k.a. trigger balance) equals USD 25,000. The maintenance rate in case of operating accounts set up with the Antigua and Barbuda bank is USD 25 per month.

GOLD BOND fixed-term deposits

Deposits boasting increased interest rates appeal to the well-off foreigners who don’t wish to invest in securities or real estate and decide in favor of long-term passive percentage income instead. 

Below, you will find the terms and conditions fixed-term deposits come with in the Antigua and Barbuda bank:

• long-term GOLD BOND deposits with the Antigua and Barbuda bank may be in USD, GBP, and EUR. Minimum deposit amounts for the above currencies can be found below:
  • USD 100,000 
  • EUR 500,000
  • GBP 500,000.
• Deposits above come with fixed rates that depend on deposit amounts and terms. The minimum deposit term is 6 months, while the maximum one makes 5 years.
  • USD GOLD BOND – 6 months to 5 years, with an interest rate of 2.0% to 6.15%
  • EUR GOLD BOND – 6 months to 3 years, with an interest rate of 0.75% to 3.0%
  • GBP GOLD BOND – 6 months to 36 months, with an interest rate of 1.0% to 3.25%.
• Bank customers receive their interest payments on a 3 months’ basis, on a semiannual basis, or on an annual basis. Accrued interest is not added to the amount deposited. It may only be added to the customer’s capital where the deposit term has expired and the customer hasn’t requested their interest and core assets. In the above situation, all customer’s finances are combined, while their deposit is automatically extended for the initial deposit term with the best possible rate.

You are welcome to consult the Q Wealth experts about other benefits and rates that deposits with the Antigua and Barbuda bank come with.

Corporate prepaid debit UPI card

For its corporate customers, the Antigua and Barbuda bank offers to issue prepaid UnionPay debit cards. The latter are a convenient financial instrument used while traveling on business or for pleasure. The prepaid offshore bank card is a multi-currency one. It is accepted in over 170 states worldwide.

Take a look at the peculiarities of the UnionPay prepaid debit card:

• Your financial assets may be held in a card account or a separate corporate card provided the latter is issued to pay employee salaries, agent fees, and make B2C and B2B payments abroad.
• Low commissions and affordable limits that you can get acquainted with while discussing your application for corporate account setup with the Antigua and Barbuda bank employees.
• Access to any transactions, including cash withdrawals, money transfers, and payments for goods and services both online and offline.
• Effortless access to the online banking platform and the mobile app.

Advantages that the corporate prepaid UnionPay card comes with are clear:

• money transfer fees and payment commissions are lower compared to standard banking transactions
• secure EMV chip cards and cards that use PIN technology
• wide geographical coverage – UnionPay cards are accepted all over Asia, Canada, Europe, the US, and multiple other jurisdictions.

Other services Antigua and Barbuda bank renders to overseas investors and businesses

Antigua and Barbuda non-residents are free to benefit from any other offers the bank has in store for its customers and get acquainted with the Caribbean bank potential and services.

1. TranzAxis-based processing center is an efficient instrument to set up and monitor your finances when transacting globally. All transactions are carried out via a special-purpose online platform that makes it possible to take care of a wide task range including payment processing and retail automation. TranzAxis is a next-gen platform designed to solve issues associated with cutting edge payment processing technologies including mobile and A2A (cardless and token) transactions.
2. CIP banking services are a unique opportunity to acquire Antigua and Barbuda CBI via investing in local real estate, contributions to the National Development Fund, or incorporating a business in Antigua and Barbuda. The Caribbean bank offers competitive services to the above customers. It opens accounts for them and renders securities management and investment portfolio setup services.
3. Online banking mentioned above is an additional asset management product offered by the Antigua and Barbuda bank. The Globex Secure platform available 24/7 protects your profile thereon from any attacks and intrusions while maintaining superb user functionality as far as bank account setup and usage are concerned:
   1. user management, including, inter alia, access to corporate transaction preview and processing set up by the bank customer themselves
   2. billing summary and transaction history that may be exported as .PDF and .CSV files
   3. payment template creation, which is a convenient function to work with in case you have lots of regular recipients. You only need to specify payment details once and later on they can be selected from a drop-down list
   4. opportunity to configure transaction notifications as well as other notifications
   5. multilingual support and other useful functions.
4. Antigua Real Estate Investment Trusts (REIT) are an instrument to structure and manage investment projects worldwide. Investment trusts are used to protect wealth and businesses and to profit from investments in the Eastern Caribbean region controlled by the Eastern Caribbean Securities Regulatory Commission (ECSRC). For developers, REIT opens access to affordable capital, thus providing for an opportunity to develop real estate, indulging, inter alia, at the institutional level. Thus, when selling REIT assets, developers release capital to later on finance new projects. 

Opening corporate accounts for foreign companies in Antigua and Barbuda remotely

To safely open a corporate account for a non-resident company with the Antigua and Barbuda bank online, you will have to take several easy steps:

1. Message Q Wealth at in**@***********rt.com and provide us with the information about yourself, your business, the goals you pursue when using the said corporate account, geographic coverage of your transactions, as well as transaction amounts per month. 
2. Obtain the Consultancy Agreement with Q Wealth in a response letter authorizing you to open a corporate account with the Antigua and Barbuda bank.
3. Pay the service fee of 3999 EUR for opening a corporate account in the Caribbean. At Q Wealth, we accept payments in all hard currencies and even crypto, including Bitcoin. PayPal, Western Union, and WebMoney payments are welcome, as are payments via other financial channels. 
4. Send us the documents requested by the Q Wealth consultants.
5. Have a corporate account for a foreign company (including offshore ones) set up for you with the Caribbean bank in Antigua and Barbuda together with access to all the financial instruments you may require.

In case with offshore corporate accounts in the Caribbean, they are usually set up within 10 or more days. It all depends on the customer’s incorporation jurisdiction, business type, and some other factors. If you still have any questions, try searching the Q Wealth website for the necessary info or just ask our experts.