If you want to operate as a gaming/gambling company in Antigua and Barbuda, you must consider some important conditions, including the establishment of an International Business Company (IBC). Our team is ready to represent foreign customers in the company formation and licensing process in Antigua and Barbuda.
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What are the conditions for opening an IBC for gaming activities in Antigua & Barbuda?
Here are some of the formalities and conditions imposed for opening an International Business Company in Antigua & Barbuda:
- must verify and reserve the desired business name with the Financial Services Regulatory Commission (FSRC),
- must have a registered business office in Antigua and Barbuda,
- must draft the Articles of Incorporation,
- company shareholders & directors must pass the “Fit & Proper Test”,
- must present a solid business plan,
- must implement gaming & cybersecurity policies alongside Anti-Money Laundering guidelines.
What are the types of gaming licenses available in Antigua & Barbuda?
There are 2 types of gaming licenses available in Antigua & Barbuda:
- Interactive wagering license for all types of sports betting,
- Interactive gaming license for casinos, poker, bingo, roulette, etc.
What are the conditions imposed on key personnel in a gaming company in Antigua & Barbuda?
The management of a gaming/gambling company in Antigua and Barbuda must present relevant qualifications and experience in this field. In addition to this, individuals must be available to local authorities for various and rigorous background checks. Those who do not meet all the conditions or are discovered to have been involved in financial crimes may receive negative notices in the management of a gaming company.
What gaming/gambling software is accepted?
Only recognized gaming software is accepted for a company wanting to develop such activities. The registration authorities will ask for certification and complete details about the software in question. A testing agent will ensure the company uses the right software and operates under the Random Number Generator (RNG) imposed for gaming/gambling companies in Antigua & Barbuda.
What are the licensing costs in Antigua & Barbuda?
USD 15,000 is the gaming license application fee. Applicants must also pay a due diligence fee of around USD 10,000.
Is an annual gaming license fee imposed in Antigua & Barbuda?
Yes, gaming company owners must pay around USD 100,000 per year to keep/renew their license.
Is a minimum deposit required when opening a gambling company in Antigua & Barbuda?
Yes, USD 100,000 is requested as a guaranteed deposit when setting up a gaming/gambling company in Antigua & Barbuda.
How is the taxation on gaming companies in Antigua & Barbuda?
Here are the taxes imposed for gaming company owners in Antigua & Barbuda:
- 3% tax on “Net Win”. Taxes do not exceed USD 50,000/month.
- 25% as corporate income tax in Antigua & Barbuda.
- 0% CIT for IBCs without a permanent establishment in Antigua and Barbuda.
How long can a gaming license be obtained in Antigua and Barbuda?
It takes around 3-6 months to obtain a gaming/gambling license in Antigua & Barbuda.
Is Antigua & Barbuda an offshore jurisdiction?
Yes, Antigua & Barbuda is an offshore jurisdiction in the Caribbean, highly appreciated for a favorable tax system, mentioning that specific IBCs can enjoy almost 50 years of tax exemption.
Are you interested in setting up a gaming/gambling company in Antigua & Barbuda? You can always opt for company formation services offered by our local specialists at affordable prices. Contact us today and discover our offers.