Antigua and Barbuda (AG)

Jurisdiction Overview

IDQuestionAnswer
471 *BO Record: Does the registration of domestic companies comprise beneficial owner's identity information? Yes, up to 10%. All companies require recording of all beneficial owners at threshold of more than any share/influence, up to 10%.
 Data Date: 2018

Notes

 
Antigua introduced, in 2017, amendments regarding beneficial ownership registration. 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 willfully fails to file an attestation report on beneficial ownership” (FATF 2018: 170). The amendment provides that: “A company shall submit annually an attestation report to the Financial Services Regulatory Commission (Commission) on the beneficial ownership and control of the company, which shall include the following: (a) the name and address of any person who owns five percent or more of the total voting rights of the company; (b) where there is a nominee, the name and address of the ultimate beneficial owner for whom a person holds the shares or their ownership interest; (c) the name and address of any person who controls the company acting directly or indirectly, and acting individually or jointly; (d) the name of all of the directors and officers; and (e) any other information as the Commission may determine” (Law Miscellaneous Amendments (No.2) Act, 2017, Section 2). In May 2019, Circular 2 was passed, requiring the Commission to file the beneficial ownership attestation to the Intelectual Property and Commerce Office.

Sources

GF 2014: 20-22
 
FATF 2018: 167-169
 
Law (Miscellaneous Amendments) Act (No. 2) of 2017
 
https://abipco.gov.ag/wp-content/uploads/2017/07/Law-miscellaneous-Amendments-No.2-Act-2017.pdf
 
https://abipco.gov.ag/wp-content/uploads/2019/Circular-2-of-2019-Annual-Attestation-of-Beneficial-Ownership-and-Control.pdf