Country overview

#74

Antigua and Barbuda

Country stats

Rating Points

150

This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.

Crypto Penetration

2.3%

Estimated percentage of crypto users out of the country's total population based on public data.

Legal Entities

Number of crypto companies registered in the country based on regulator data if available or other types of public data.

Regulation Points

100

An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.

Amount of crypto users

2 300

Total amount of crypto users out of the country's total population based on public data.

Taxation points

This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.

Market volume points

A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.

Status of crypto

Legally allowed

General status of cryptocurrency regulation in this jurisdiction.

Crypto payments

Legally allowed

The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.

Security Level

Minor danger

The overall level of security in a given country based on open data.

Crypto Salaries

No info

The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.

Business Climate

No info

Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.

Stablecoin Regulation

No info

This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.

Bad Factors

This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.

Types of licenses

Crypto-to-crypto

This license type allows VASP to provide legal exchange from one cryptocurrency to another.

Crypto-to-fiat

This type of license regulates the exchange from cryptocurrency to fiat.

Wallet/Custody

This country has a legal licensing procedure for companies that store cryptocurrency - - crypto wallet providers and custodians.

Good

Medium

Bad

intro

Antigua and Barbuda is a sovereign country in the Carribean. The total area assumes 440 square kilometres , it consists of two medium sized islands: Antigua (281 km2) (1) and Barbuda (160.56 km2) (2). The total population is about 100,000 people based on Wikipedia (3).

According to Visaguide (4) Antigua and Barbuda has launched a Digital Nomad Residence program in 2020. Digital nomads are exempt from taxes in this country and the application procedure takes 14 days.

Also, based on Immigration consultant (5) there is an investment program on the island, which allows to get passport of Antigua and Barbuda. The applicant can pay $100k fee in state fund or buy a real estate property for $250k.

Last, but not least - Antigua and Barbuda is a member of ECCB - a monetary institution which unites 9 countries of the region.

Security level

There is no informartion about Antigua and Barbuda crime rate in Numbeo database. However, we define it as minor danger based on CIA factbook (6) and according to the statement (7) of local official, that the country has the lowest level of murders in the Carribean.

Crypto Payments

It’s legal to pay for immigration state services in Antigua and Barbuda in crypto (8) based on Golden Harbors review. Also there are crypto ATMs and payment providers operating in the country such as PayAntigua (9). Moreover, based on ImmigrantInvest (10) BTC and other cryptocurrencies are accepted by local businesses in the country.

Crypto Salaries

We have no information about regulation of salaries in crypto.

Legal

All information about license framework is described in the Digital Asset Bill 2020 (11). The legislation defines types of regulated crypto activities as:

(a) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets;

(b) operating as a payment service business utilizing digital assets which include the provision of services for the transfer of funds;

(d) providing custodial wallet services;

(e) operating as a digital assets services vendor.

All these types of entities must register by local regulator - The Financial Services Regulatory Commission (FSRC) (12). There is an application form (13) for digital asset businesses on FSRC site. Also you can find more details about Digital Assets Business Regulations 2021 (14) published by FSRC. You also can check some details on the site of Finlaw consulting firm (15).

Taxation

According to ImmigrantInvest (16) Antigua and Barbuda has no taxes for personal income since 2016 - PIT or CGT. However, in some cases personal income may be taxed - this includes 15% social contributions from salaries in local companies and in some cases 8% or 25% for self-employed based on Greenback (17). That's why you need to get a consultation from a local accountant or IRD about your personal taxation case. Based on Nomad Capitalist (18) there is a sales tax (similar to VAT) with 12,5% and tax on real estate purchase on the island Antigua. There is a 25% corporate income tax rate in Antigua and Barbuda and no CGT tax for resident companies based on GlobalCitizenSolutions (19). More information about all possible taxes in this jurisdiction you may find on the site of local tax authority - IRD of Antigua and Barbuda (20).

Links

1)👉🏻 Antigua Wikipedia

2)👉🏻 Barbuda Wikipedia

3)👉🏻 Antigua and Barbuda Wikipedia

4)👉🏻 Antigua and Barbuda Visa Guide

5)👉🏻 Antigua and Barbuda Citizenship: moving to crypto paradise Immigrant Invest

6)👉🏻 Antigua and Barbuda CIA the world factbook

7)👉🏻 Attorney General says Antigua is the safest country in the Caribbean AntiguaNewsroom

8)👉🏻 Antigua and Barbuda GoldenHarbors

9)👉🏻 PayAntigua

10)👉🏻 Antigua and Barbuda Citizenship: moving to crypto paradise Immigrant Invest

11)👉🏻 Digital Asset Business Bill 2020