Antigua and Barbuda (AG)

Jurisdiction Overview

IDQuestionAnswer
237 *Are the settlors/founders named? No, not all of them have to be named (if any).
 Data Date: 2018

Notes

 
According to the Global Forum: "An international foundation that specifies the laws of Antigua and Barbuda for any part of its administration must be registered with the FSRC [Financial Services Regulatory Commission Antigua & Barbuda], which maintains a Register of International Foundations. At the time of registration, the international foundation must provide to the FSRC the names and addresses of the following persons: the Antigua and Barbuda member of the foundation council; all non-resident members; and all protectors" (GF 2014: 44). However, the definition of 'member' in the International Foundation Act 2007 does not include settlor or beneficiaries. This was confirmed by the FATF in 2018: "International Foundations Act – Section 7 states that an International Foundation shall have a registered office in Antigua and Barbuda. Section 53 indicates that the internal register should include its members and protectors, name and address of each foundation member and protector [...]" (FATF 2018: 169-170). While the 2017 amendments require international foundations to file an attestation of beneficial ownership, it applies the same beneficial ownership definition for companies (any person who owns 5 % of shares, etc.) instead of requiring all parties of the foundation to be identified (Art. 8 of the amending law).

Sources

GF 2011: 31-32; GF 2014: 44
 
International Foundation Act 2007, art 53
 
FATF 2018: 169-170
 
https://abipco.gov.ag/wp-content/uploads/2017/07/Law-miscellaneous-Amendments-No.2-Act-2017.pdf