Antigua & Barbuda Banks
Antigua and Barbuda is an independent island state in the Lesser Antilles, to the east of the Caribbean. It is comprised by thereof the Leeward Islands, Antigua and two smaller islands, Barbuda to the north and Redonda to the southwest. All offshore banks registered in Antigua and Barbuda are regulated and supervised by the Financial Services Regulatory Commission (FSRC). This entity created the IBC Act law, which guides the processes for incorporating offshore companies. All offshore banks must have an office in the country, with an official that represents the bank; he must be resident of the country and work exclusively and permanently for this bank.
All documentation and information necessary for forming an opinion about the bank’s activities financial state must be maintained in this office.
Antigua ad Barbuda is not found in any black list, because it has complied with all the requirements imposed by the G8 countries and even the Organization for Cooperation in Economic Development (OCED) emphasizes the cooperation of this Caribbean nation in the prevention of money laundering. The FSRC works in coordination with the Office of National Drug Control and Money Laundering Policy (ONDCP), an entity that has also issued control and preventative guidelines with which financial institutions must comply. Lately, the government of Antigua and Barbuda has implemented changes in laws and, for example, clients’ records transactions undertaken must be conserved by offshore banks; in addition, banks must maintain a proportion of capital to assets of at least 5%; banks are prohibited from receiving or transfer funds for people who are not clients or who don’t have an account; meanwhile, the assets of any person accused of money laundering will be frozen. To conclude, the courts in Antigua and Barbuda are already authorized to collaborate with other States to identify, track down, freeze or confiscate property of people who have committed a crime.
Comisión Reguladora de Servicios Financieros:
Telephone: +268 481 1000
Related Categories
Directory > Offshore Banks
Barrington Bank Inc..
Country:Antigua & Barbuda
Website:www.barringtonbank.com
Type:Commercial and Private ...
Client presence:NOT needed
Global Bank of Commerce..
Country:Antigua & Barbuda
Website:www.globalbank.ag
Type:Commercial and Private ...
Client presence:NOT needed
Royal Bank Of Canada..
Country:Antigua & Barbuda
Website:www.rbcroyalbank.com
Type:Commercial and Private ...
Client presence:NOT needed
Antigua Commercial Bank..
Country:Antigua & Barbuda
Website:www.acbonline.com
Type:Commercial and Private ...
Client presence:N/A
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