Antigua and Barbuda (AG)

Jurisdiction Overview

IDQuestionAnswer
470 *LO Record: Does the registration of domestic companies comprise legal owner's identity information? Some LO: No, companies available where only some legal owners are recorded.
 Data Date: 2018

Notes

 
In 2017, Antigua introduced amendments reagrding beneficial ownership registration, which included the obligation to identify the shareholders owning 5% or more of the voting rights. The FATF reported: "The Laws Miscellaneous Provisions Act (No. 2) of 2017 amends the Companies Act, 1995, International Business Corporations Act Cap. 222 the International Foundations Act, 2007, the Corporate Management and Trust Service Providers Act,2008 and the International Limited Liability Companies Act 2007 and mandates the filing of an annual attestation form capturing information on beneficial ownership and control and provides an administrative penalty where a company wilfully fails to file an attestation report on beneficial ownership." (FATF 2018: 170). However, regarding legal ownership, the amendment requires companies to submit annually the name and address of persons who owns five percent or more of the total voting rights of the company" (Law Miscellaneous Amendments (No.2) Act, 2017). This threshold allows some shareholders to avoid reporting obligation.
 
In 2014, the Global Forum reported that only domestic companies are required to register legal ownersip (GF 2014: 20-22). With regard to IBCs [International Business Corporations], according to the Global Forum:" The information on this certificate includes the name and address of each shareholder who owns more than 5% of the shares" (ibid: 22).

Sources

GF 2014: 20-22
 
FATF 2018: 167-169