COREDO > Opening a Bank Account in Antigua and Barbuda

Opening a Bank Account in Antigua and Barbuda

Banking System of Antigua and Barbuda

Antigua and Barbuda is a Caribbean jurisdiction with a developed banking sector, a stable financial system, and an international approach to banking services. The country’s banks offer foreign clients reliable infrastructure for international transactions, multi-currency operations, and modern compliance procedures.

Since 2016, COREDO has been assisting clients with opening bank accounts in Antigua and Barbuda, providing full support at every stage of the process.

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Cost of the service
from 700 EUR

Types of Bank Accounts

The following types of accounts are available in the banking system of Antigua and Barbuda:

Corporate bank accounts

for legal entities registered both in Antigua and Barbuda and in foreign jurisdictions. Suitable for trading companies, holding structures, and international businesses.

Personal bank accounts

for individuals, including non-residents. Current, savings, and deposit accounts are available.

Payment institution accounts

for clients requiring settlement services without traditional banking.

Multi-currency accounts

banks in Antigua and Barbuda offer the possibility of opening accounts in multiple currencies, including USD, EUR, and XCD, which is convenient for companies engaged in international activities.

Requirements for Clients

Banks in Antigua and Barbuda apply strict KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures in accordance with the Money Laundering (Prevention) Act and the regulations of the ECCB and FSRC.

For legal entities, the main requirements include: having an active company with a complete set of incorporation documents, disclosure of information about beneficial owners (UBO), confirmation of the source of funds and the legitimacy of commercial activities, and provision of banking history.

For individuals, a valid identity document, proof of residential address, and proof of income source are required. Some banks may request professional reference letters (from bankers, lawyers, or accountants).

Source: Money Laundering (Prevention) Act

Account Opening Process and Timelines

The process of opening a bank account in Antigua and Barbuda with COREDO includes the following stages:

Client Analysis (preliminary screening).

COREDO specialists analyse the client’s profile, identify a suitable bank and account type taking into account the specifics of the business and the jurisdiction of company registration.

01

Document preparation.

COREDO assists in collecting and preparing the full package of documents in accordance with the requirements of the selected bank. Documents not in English must be translated by a certified translator.

02

Submission of the application to the bank.

The document package is submitted to the bank for review. COREDO accompanies the process and ensures communication with the bank.

03

Verification and compliance.

The bank conducts KYC/AML procedures, document verification, and source of funds checks. Additional document requests are possible at this stage.

04

Account opening and delivery of details.

Upon successful completion of the verification, the client receives account details and access to internet banking.

05

Verification and account opening timelines at banks in Antigua and Barbuda are from 14 business days and depend on the completeness of the documents submitted and the internal procedures of the selected bank.

COREDO Service Fees

For Legal Entities

Stage	Fee
Stage 1 — Client Analysis (preliminary screening)	EUR 300 + VAT
Stage 2 — Bank corporate account	EUR 2,000 + VAT
Stage 2 — Payment institution account	EUR 1,500 + VAT
Opening deposit	EUR 1,000
Total	from EUR 1,800 to EUR 2,300 + VAT

For Individuals

Stage	Fee
Stage 1 — Client Analysis (preliminary screening)	EUR 200 + VAT
Stage 2 — Bank account	EUR 1,000 + VAT
Stage 2 — Payment institution account	EUR 500 + VAT
Opening deposit	EUR 400
Total	from EUR 700 to EUR 1,200 + VAT

The fee includes full support throughout the process — from the preliminary analysis to receipt of account details.

Required Documents

For Legal Entities

To open a corporate bank account in Antigua and Barbuda, the following documents must be prepared:

Certificate of Incorporation
Memorandum and Articles of Association — apostilled originals
Register of Directors and Members
Board Resolution authorising the opening of the account
Corporate organisational chart indicating beneficial owners (UBO)
Notarised copies of passports of all directors and beneficial owners
Proof of company address (utility bill)
Company bank statement for the last year (original)
Two professional reference letters from a banker, accountant, or lawyer indicating the duration of the professional relationship (at least one year)
Declaration of cryptocurrency activities (if applicable)

For Individuals

Valid international passport (notarised copy)
Proof of residential address (utility bill or bank statement — no older than 3 months)
Proof of income source
Bank reference letter

Advantages of Working with COREDO

COREDO has been providing bank account opening services since 2016 and possesses significant experience working with banks across various jurisdictions, including Antigua and Barbuda. The key advantages of cooperation include:

An individual approach to bank selection

taking into account the specifics of the client’s business and jurisdictional requirements

Full support at every stage of the process

from document preparation to receipt of account details

Communication with the bank on behalf of the client

including prompt responses to additional requests

Consultations on compliance requirements (KYC/AML)

and assistance in preparing documentation that meets the standards of the ECCB and FSRC

Transparent pricing

with a fixed fee for each stage

COREDO has been providing bank account opening services since 2016 and possesses significant experience working with banks across various jurisdictions, including Antigua and Barbuda. The key advantages of cooperation include:

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Our Experts

Daniil Saprykin

Head of Customer Success. Daniil coordinates client relations at COREDO and ensures high-quality support at every stage of bank account opening. His experience in corporate services and client management enables him to find optimal solutions for each client.

Diana Šnajdr

Customer Success Manager. Diana provides operational support for COREDO clients, assisting with document preparation and coordination with banks. Her attention to detail and client-oriented approach guarantee the efficient completion of all procedures.

Frequently Asked Questions

Can non-residents open a bank account in Antigua and Barbuda?

Yes, banks in Antigua and Barbuda serve both residents and non-residents. Accounts at local and international banks are available to non-residents, subject to completion of KYC/AML procedures and submission of the full document package.

What currencies are available for bank accounts?

Banks in Antigua and Barbuda offer multi-currency accounts. The main available currencies are the Eastern Caribbean Dollar (XCD), the US Dollar (USD), and the Euro (EUR). Some international banks also offer the possibility of working with other world currencies.

How long does it take to open an account?

The verification and account opening process typically takes from 14 business days. The exact timeline depends on the completeness of the document package submitted, the selected bank, and the results of the compliance review.

Is personal presence required to open an account?

In most cases, banks in Antigua and Barbuda require personal identification. However, a number of banks, including Antigua Commercial Bank and Eastern Caribbean Amalgamated Bank, allow remote account opening subject to the fulfilment of additional verification requirements.

Which banks operate in Antigua and Barbuda?

The country has both local banks (Antigua Commercial Bank, Eastern Caribbean Amalgamated Bank) and international financial institutions (CIBC FirstCaribbean International Bank). In the international banking sector, Global Bank of Commerce operates, specialising in providing services to international clients.

Submit Application

COREDO specialists are ready to assist you with opening a bank account in Antigua and Barbuda. Contact us for an individual consultation.