Foreign entrepreneurs interested in getting a crypto license in Antigua and Barbuda must first register an International Business Company (IBC). This article offers information about the key requirements for this type of license. Plus, applicants can collaborate with our BridgeWest agents in terms of procedures and representation.
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How is the crypto license known in Antigua & Barbuda?
The crypto license in Antigua & Barbuda is known as DAB licensing. DAB stands for Digital Asset Business.
Who issues crypto licenses in Antigua and Barbuda?
The Financial Services Regulatory Commission (FSRC) in Antigua and Barbuda issues the cryptocurrency licenses if all the formalities and paperwork are accepted.
What are the conditions for obtaining a crypto license in Antigua and Barbuda?
Among the conditions for getting a cryptocurrency license in Antigua and Barbuda, we list:
- the IBC must be incorporated locally,
- must appoint a director & qualified staff,
- applicants must present a detailed business plan,
- must implement the Anti-Money Laundering & Know-Your-Customer policies,
- audited financial statements are also requested,
- the application must be done through a registered agent with residency in Antigua and Barbuda.
What license categories are available in Antigua & Barbuda?
There are 3 categories of licenses as follows:
- Type A required for digital asset vendors, payment services providers, and custodial wallet services,
- Type B for digital asset exchanges,
- Type C for innovative projects with a limited duration.
Is local management required for a crypto company in Antigua & Barbuda?
Yes, the appointed director must have residency in Antigua & Barbuda.
Is the “Fit & Proper test” imposed on company staff?
Yes, the “Fit & Proper test” is mandatory for company managers who must also provide information about their qualifications.
How much does a crypto license cost in Antigua & Barbuda?
The application fee ranges between USD 3,700 and USD 7,400.
What is the minimum risk capital required?
Around USD 100,000 is the minimum risk capital required when opening a crypto company in Antigua & Barbuda.
What is the legislation for cryptocurrency in Antigua & Barbuda?
The Digital Assets Business Act is the main legal framework controlling cryptocurrency activities in Antigua and Barbuda.
Is a permit for wallets for storing cryptos needed?
Yes, storing cryptocurrency through wallets requires an operator permit. This is normally issued by the same authority, the Financial Services Regulatory Commission (FSRC) in Antigua and Barbuda.
How long does it take to get a crypto license in Antigua & Barbuda?
It takes around 3-4 months to get a crypto license in Antigua & Barbuda, quite fast compared to other offshore jurisdictions worldwide.
What activities can you carry out with a crypto license in Antigua & Barbuda?
A crypto license (DAB license) allows the following activities:
- crypto exchange,
- crypto trading,
- wallet management,
- different digital money activities, etc.
What is the corporate tax rate for crypto activities in Antigua & Barbuda?
There is no corporate tax imposed on profits of cryptocurrency companies in Antigua & Barbuda, which makes this offshore jurisdiction quite appealing from this point of view.
Are you ready to apply for a crypto license in Antigua & Barbuda? We invite you to discover the complete and personalized services offered by our local experts. We assist in various company formation and licensing matters on behalf of our customers, so contact us today.