The business environment in Antigua and Barbuda is not only welcoming, but its natural beauty is breathtaking. Learn how to open a corporate bank account in Antigua and Barbuda
Amidst this allure, understanding how to open a corporate bank account in Antigua and Barbuda is a pivotal step for a successful establishment, offering financial stability and seamless international transactions.
As an attractive destination for foreign investors, Antigua and Barbuda boasts a selection of reputable banks. Read on to learn how to open a corporate bank account in Antigua and Barbuda.
See also: Company formation Antigua and Barbuda
Table of Contents
Can a Foreigner Open a Bank Account in Antigua and Barbuda?
Numerous banks in Antigua and Barbuda welcome foreign entities and customers. It’s important to note that the primary language for communication and documentation is English.
What Do You Need to Open a Corporate Bank Account in Antigua and Barbuda?
For non-residents seeking to open a bank account in Antigua and Barbuda, the application process requires submitting the following documentation:
For corporate entities:
- Completed and signed application form for bank account initiation.
- Sample signatures of authorized officers within the company.
- A completed form detailing the company’s activities and account allocations.
- Original bank statement from the company’s existing bank (with a minimum one-year affiliation).
- Notarized passport copies of all company directors and beneficiaries.
- Copy of a recent utility bill that displays the company’s physical address.
Note: The compliance department might have specific document requests, which will be communicated promptly if applicable.
Upon provisional approval of the application, the applicant company should provide copies of the following additional documents:
- Company registration certificate.
- Latest financial report.
- Memorandum and Articles of Association.
- Document certifying the appointment of company directors and authorized personnel (such as a protocol).
- Shareholding registry.
Partner with a Local Expert to Streamline the Process
Engaging with law firms or consultants is the optimal approach to start the bank opening procedure. While opening a corporate bank account in Antigua and Barbuda is relatively straightforward, certain aspects warrant consideration. Therefore, collaborating with a local partner becomes crucial, ensuring comprehensive assistance throughout the process.
Align Your Business Requirements with the Right Antigua and Barbuda Bank
Tailored to your company’s operations, certain banks in Antigua and Barbuda offer greater flexibility for tasks such as establishing investment accounts, facilitating adaptable payment approaches, and conducting international transfers. Ensure that the chosen bank aligns seamlessly with your business necessities and criteria.
Below are five of the most reputable banks in Antigua and Barbuda:
- ACB Caribbean (Formerly Antigua Commercial Bank) – Setup in 1955, this bank is one of the longest-serving financial institutions in Antigua and Barbuda. ACB delivers extensive services, encompassing personal and business services, corporate banking, loans, credit cards, and investment solutions.
- Caribbean Union Bank Ltd. (CUB) – Established in 2005, this bank represents a recent entrant into Antigua and Barbuda’s banking landscape. Distinctively customer-centric, CUB presents an array of financial offerings, encompassing savings and checking accounts, loans, credit cards, and foreign exchange services. Emphasizing personalized care and inventive resolutions, the bank prioritizes tailored solutions for its clientele.
- Eastern Caribbean Amalgamated Bank Ltd. – Founded in 2010 in Antigua and Barbuda, this esteemed financial establishment has a strong reputation. ECAB provides extensive banking solutions – from personal and business accounts, loans, mortgages, credit cards, and investment avenues. Renowned for its contemporary banking facilities, competitive interest rates, and streamlined customer service, the bank stands out as a notable choice.
- Global Bank of Commerce Ltd. – Established in 1983, this institution presents a wide range of banking offerings, encompassing personal and corporate accounts, international banking, offshore services, trade finance, and investment possibilities. The bank’s distinguishing features include a strong commitment to privacy, security, and personalized customer care.
- CINC FirstCaribbean International Bank (Barbados) Ltd. – As a prominent regional bank, this institution maintains branch networks across diverse nations, including Antigua and Barbuda. Headquartered in Barbados, the bank holds substantial influence within the Caribbean, extending comprehensive financial solutions to its clientele. CIBC FirstCaribbean specializes in personal and business banking, wealth management, loans, mortgages, credit cards, and digital banking innovations.
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The information provided here within should not be construed as formal guidance or advice. Please consult a professional for your specific situation. Information provided is for informative purposes only and may not capture all pertinent laws, standards, and best practices. The regulatory landscape is continually evolving; information mentioned may be outdated and/or could undergo changes. The interpretations presented are not official. Some sections are based on the interpretations or views of relevant authorities, but we cannot ensure that these perspectives will be supported in all professional settings.