Antigua and Barbuda is a Central American country, and it is a part of the Commonwealth. Tourism is the primary economic sector, and it counts for approximately 60% of the GDP and 40% of investments. This country has a domestic-oriented agricultural sector with preferences upon sugar cane, fruits, and reduced water supply. Other significant economic activities include oil refining, textile, carpentry, rum production, beer, cement, local crafts, and furniture. It also has a high living-standard and average life expectancy.
Sole proprietorship in Antigua and Barbuda
The sole proprietorship is the simplest form of operating a business. It does not represent a legal entity form, and it has a very straightforward process of registration. In this kind of business, the owner has full control over gaining profit, so the owner and the manager are the same people. If you want to be independent and have unlimited liability, this business type is right for you. The paragraphs below will help you with information about important processes within the registration of your business.
Disclaimer: Be aware that this article is not a substitute for legal advice. Please always check official websites or seek legal advice before you take action.
How to register a sole proprietorship in Antigua and Barbuda
As it was said earlier, registering a sole proprietorship in Antigua and Barbuda is quite an affordable and easy process.
Business name registration
When you decide on the type of business, the next step is to register a business name. You need to make sure that the name you want to use does not already exist. The rest of the process could be done by heading to Company Registration at the Antigua and Barbuda Intellectual Property & Commerce Office (ABIPCO) or applying on their website.
This simple process should not take longer than a day, and the fee is $10. The outcome of this is a Business Registration Certificate. Furthermore, you should complete a Name Reservation form. The name reservation lasts 90 days, and if you don’t use the name in that period, you must re-apply.