Antigua and Barbuda Special Economic Zone is approved by the national House of Representatives and Senate of Antigua and Barbuda and its duty-free policies are permanently protected by the laws of the Commonwealth and Antigua and Barbuda.
Antigua and Barbuda Special Economic Zone approved by national legislation of Antigua and Barbuda and its tax-free preferential policies. Antigua and Barbuda Special Economic Zone can enjoy zero-tax policy permanently.
Three Laws to Escort Antigua and Barbuda Special Economic Zone at September 2015. The construction of the Antigua and Barbuda Special Economic Zone which was invested and started officially after the approval of Special Economic Zone Act 2015 and Special Economic Zone (License) Regulations 2015 by the government of Antigua and Barbuda. Meanwhile, the Special Economic Zone License Order 2015 was issued to Yida International Investment Antigua Limited by government of Antigua and Barbuda, which means Antigua and Barbuda Special Economic Zone is under the protection of the legal system of Commonwealth, and it is under a triple legal protection of Act, Regulations, and License.
Antigua and Barbuda Special Economic Zone was introduced to the world in the form of legislation by the government of Antigua and Barbuda, which settled a legal foundation for the long-term development of Antigua and Barbuda Special Economic Zone and ensured a safe operation of the first international special economic zone in Caribbean. The government of Antigua and Barbuda set up a Special Economic Zone to promote and establish self-contained, industrial, commercial and financial corporate offices and business centers, with solid and good infrastructure, to facilitate public and private sector participation in a competitive and attractive environment for the promotion of economic development and the creation of jobs in Antigua and Barbuda.
Antigua and Barbuda Special Economic Zone covers an area of 1609 acres and consists of 10 functional zones, including Hotel, Industrial park, Golf course and villa, International medical rehabilitation area, International commodity duty free logistics wholesale center, International warehouse free zone, Central business center, University town, Headquarters area and Financial center.
Antigua and Barbuda Special Economic Zone provides the most international comprehensive and competitive incentives and preferential policies, including overall zero-tax policies, free financial policies, and unlimited off-shore duty-free shopping policies to attract foreign direct investment. Multinational companies can minimize its global tax burden by carrying out overseas business in Antigua and Barbuda Special Economic Zone. The preferential policies of the Special Economic Zones mainly include financial duty-free policies, licensing policies, financial and tax policies, business administration policies, infrastructure policies, off-shore duty free policies, and CIP policies.
It is specified in Antigua and Barbuda Special Economic Zone License Order, 2015 that “The Special Economic Zone License and the incentives and concession granted to Yida International Investment Antigua Limited shall be effective from the date of the license and continue in force in accordance with the laws of Antigua and Barbuda. The License awarded to Yida International Investment Antigua Limited and all its incentives and concessions shall be protected during the life of the Zone. The approved names and categories of functional businesses and industries operating in the Zone shall be protected and such approved names and categories shall not be accepted for approval for any other applicants.” “All residents and approved businesses and industries in the Zone are allowed to freely acquire, hold and sell land, shares and other properties in the Zone.” And it is also specified in the Financial and Tax Policies that “Waiver of taxes within the Zone. The Zone shall be free of all taxes levied in Antigua and Barbuda.” The permanent duty-free policies carried out in Antigua and Barbuda Special Economic Zone made it the sole permanent duty-free area of Commonwealth by far. It is specified in the CIP Policies that “Families of 4 will be processes at USD 50,000 for the entire family for the first 500 family applications into the Zone, and transfer taxes and stamp duties shall be waived.”
Antigua and Barbuda Special Economic Zone aims to be a whole new global off-shore center of international off-shore companies and an international off-shore financial center like Cayman, Virgin Islands, and Bermuda in respect of off-shore financial business. With the establishment and operation of Antigua and Barbuda Special Economic Zone, we believe that it will become a new economic engine in the Caribbean!
At the 30th Dec 2019, the Antigua and Barbuda Special Economic Zone has ready to receive foreign investment, development and construction physically and legally. All functional zone is opening for investment. There is in total 1650 Acre lands available. Details are follow:
The ABSEZ will plan to build 10 five-star hotels with a total construction area of approximately 250,000 square meters and provide 1,000 employment opportunities.
The climate of Antigua and Barbuda is livable year-round, with a minimum temperature of 22 degrees in winter and a maximum temperature of 28 degrees. The highest temperature in summer is 32 degrees. Antigua and Barbuda is famous for its blue sky and white clouds and 365 beaches. About 1.5 million tourists visit here every year. The existing high-end hotel supply capacity cannot meet the growing tourist demand and the tourism industry has great potential.
According to the tax exemption policy, foreign investors are exempt from tax on purchasing land, building hotels, and importing related goods in the ABSEZ. Taxes are not payable on income earned by foreign companies operating and selling hotels. The tax exemption policy can help foreign investors reduce investment risks and increase investment returns to the greatest extent.
The investment and construction of ten hotels will also promote the development of tourism-related enterprises: including all building materials companies, sand and stone companies, cement, construction machinery companies; all supermarkets, restaurants, retail, taxis, car repairs and accessories companies.
ABSEZ Industrial Park plans to introduce 500 labor-intensive foreign-funded enterprises which is expected to bring 4 million square meters of engineering construction and nearly 27,500 jobs.
According to the tax exemption policy, foreign-registered companies, investment in building factories, import and export of related raw materials, sales of related goods, and corresponding profits are not required to pay taxes to the government; similarly, all workers and managers of the company’s factories are not required to pay wage tax. For example, if your plant sells $ 100 million a year and your tax rate is 50%, your company will need to pay $ 50 million in taxes. However, according to the tax exemption policy of the ABSEZ, all of these 50 million taxes is classified as your company’s profit. This also gives your company enough room to reduce prices to increase the competitiveness of your products.
The ABSEZ golf course, golf villas and clubs have a total construction area of 300,000 square meters and can solve the employment of 500 people.
The ABSEZ Golf Course will become the world’s first independent island golf course. The golf course is positioned as a private golf club and qualified for international games. Similarly, construction of related venues in the ABSEZ is not subject to land acquisition tax (2.5% in the United States), material sales tax (4.5% in the United States), wage tax (50-70% in the United States), capital gains tax (23.8% in the United States) and income tax (39.6% in the United States) to maximize investors’ interests.
The total construction area of the International Medical Rehabilitation Zone of the ABSEZ is 60,000 square meters, which can provide employment for 200 people. There is only one hospital in Antigua and Barbuda currently. The equipment and technology are outdated, which cannot meet the needs of the middle classes. This part of the people above the middle classes basically choose to go to the United States, Canada, the United Kingdom and Europe for medical treatment. In addition, there are more than 1.5 million tourists from Europe and the United States each year. The ABSEZ will also welcome 1-2 million permanent residents in the future and the existing medical capacity is seriously insufficient. Therefore, it is now very suitable to build a high-level hospital, set up a medical examination center, a medical and rehabilitation center, and a medical plastic surgery center in the ABSEZ.
The total construction area of ABSEZ International Commodity Duty Free Logistics Wholesale Center is 100,000 square meters, which can solve the employment of 100 people.
Antigua and Barbuda is located in the Caribbean, radiating South America, North America, Europe and Africa. Enterprises in special economic zones do not have to pay a tax while selling their products to four continents.
The total construction area of the ABSEZ International Warehouse Free Zone is 200,000 square meters, which can solve the employment of 300 people. ,
When the products produced by 500 foreign-funded enterprises in the ABSEZ need to be exported, the exported goods must enter the warehousing-free zone of the ABSEZ to legalize the safety of export commodities.
The ABSEZ duty-free storage zone is a long-term storage of international goods free of tax. The warehousing free zone provides flexible storage services for international goods, making the ABSEZ to a storage and transportation hub that connects the world and regional commodity trade. The warehousing free zone also provides a flexible duty-free operation platform for international import and export trade and re-export traders to promote the sales of international goods.
The 300,000-square-meter business center of the ABSEZ can provide employment for 500 people.
The ABSEZ Business Center is an international business center integrating tourism, leisure, entertainment, duty-free shopping and entertainment. Inside there are dining and dining areas, bars, karaoke areas, outlying island duty free areas, gaming areas and more. Free zones can import goods from the global free zones to sell in the Antigua and Barbuda offshore free zone. Anyone who visits and vacations in Antigua and Barbuda can purchase duty-free goods in the free zone. Antigua and Barbuda nationals must pay consumption tax to the country when shopping in the free zone. The casino is located in a five-star hotel, exclusive area for business culture and entertainment, and the casino has more entertainment venues and dining areas.
The total construction area of the headquarters of the ABSEZ is 300,000 square meters, which can solve the employment of 500 people.
If the Enterprise headquarter is registered in the ABSEZ, it can register several branches in the ABSEZ at the same time, which holding sub-companies in other countries, according to the tax exemption policy of the ABSEZ:
Profits from companies in different countries are returned to the ABSEZ branch and are exempt from income tax.
When sub-companies located at other countries is sold, the owner only need to sell the holding branch in the ABSEZ, and there is no tax on the sale of the sub-company.
When the assets of companies in other countries need to be transferred, they can be exempted from transaction tax and income tax by selling the subsidiaries of the ABSEZ to others.
When the products and semi-finished products of factories in other countries are sold to the branches of the ABSEZ, or the products assembled by the ABSEZ Company are ready to sold to the rest of the world, import and export duties are exempted.
The total construction area of the headquarters of the ABSEZ is 300,000 square meters, which can solve the employment of 500 people.
If the Enterprise headquarter is registered in the ABSEZ, it can register several branches in the ABSEZ at the same time, which holding sub-companies in other countries, according to the tax exemption policy of the ABSEZ:
Profits from companies in different countries are returned to the ABSEZ branch and are exempt from income tax. When sub-companies located at other countries is sold, the owner only need to sell the holding branch in the ABSEZ, and there is no tax on the sale of the sub-company. When the assets of companies in other countries need to be transferred, they can be exempted from transaction tax and income tax by selling the subsidiaries of the ABSEZ to others.
When the products and semi-finished products of factories in other countries are sold to the branches of the ABSEZ, or the products assembled by the ABSEZ Company are ready to sold to the rest of the world, import and export duties are exempted.
The total construction area of the financial center of the ABSEZ is 50,000 square meters, which can solve the employment of 200 people.
The financial center of the ABSEZ has established various fund centers, offshore settlement centers, offshore insurance companies, offshore trust companies, offshore asset management companies, international securities trading centers, and so on.
