Banks in Antigua and Barbuda: Essential Guide to What You Should Know

Top Banks in Antigua and Barbuda

Below is an updated list of licensed commercial and international banks in Antigua and Barbuda, verified by the FSRC and ECCB. These banks cater to both residents and international clients, offering retail, digital, business, and private banking solutions.

ACB Caribbean (Antigua Commercial Bank)

The oldest and most established commercial bank in Antigua and Barbuda, ACB Caribbean, manages an asset base exceeding EC$1 billion. Founded in 1955, it offers personal, business, and corporate banking, including mortgages, savings, online banking, and investment accounts

Caribbean Union Bank Ltd. (CUB)

Established in 2005, Caribbean Union Bank (CUB) focuses on personalized banking and digital innovation for individual clients and small to medium enterprises (SMEs). Its services include current and savings accounts, credit cards, personal loans, and currency exchange.

Known for customer-centered service, CUB is expanding its fintech offerings to enable easier access to financial tools across the Caribbean.

CIBC FirstCaribbean International Bank

A subsidiary of the Canadian Imperial Bank of Commerce (CIBC), this major regional institution operates across 16 Caribbean territories, including Antigua and Barbuda. It provides wealth management, personal loans, real estate financing, and corporate solutions.

Known for its international expertise and trusted global network, CIBC FirstCaribbean is a preferred choice for multinational and expatriate clients.

Global Bank of Commerce Ltd.

Founded in 1983, the Global Bank of Commerce (GBC) is among Antigua’s leading Class A licensed international banks, providing offshore and corporate banking services. 

It is known for confidentiality, multi-currency accounts, and global accessibility for international investors and corporate entities.

BOI Bank Ltd.

BOI Bank serves high-net-worth clients seeking offshore financial services. It offers wealth management, escrow, and investment solutions, with a focus on secure transactions and confidentiality. 

Based in Friar’s Hill, St. John’s, it is recognized for responsive and client-centered private banking operations.

BRS Banque S.A.

A European-backed institution offering personalized financial management and wealth services to global clients. BRS Banque is headquartered in St. John’s and provides investment solutions tailored for high-net-worth individuals.

Types of Antigua Bank Accounts

Banks in Antigua and Barbuda offer diverse account types designed for both individuals and corporate clients. Understanding your options ensures you select the right banking solution for your financial goals.

The first option is a Currency Account, which is available to both individuals and legal entities. This type of account allows you to hold money in foreign currencies such as USD, EUR, GBP, or CAD, and can function as a checking, savings, or term deposit account. It is offered at Global Bank of Commerce and ACB Caribbean.

A Checking (Current) Account is also available to both individuals and businesses. This is the most common account for day-to-day use, handling everyday transactions like payments, deposits, and withdrawals. It typically comes with a debit card and access to online banking.

For those involved in real estate, an Escrow Account can be opened by both individuals and legal entities. It is specifically designed to secure a property purchase during construction, holding the funds safely until the developer fulfills all contractual obligations.

A Savings Account is open to everyone — individuals and businesses alike — and is used to store and grow funds over time with interest. Unlike fixed deposits, you can make deposits and withdrawals at any time.

The Term Deposit (Fixed Deposit) account is available only to individuals and offers higher interest rates in exchange for locking your money in for a set period of 3, 6, or 12 months. Keep in mind that withdrawing early will result in penalties.

For companies, a Corporate/Business Account is available exclusively to legal entities. It is built to support business operations including cross-border payments and payroll, and can be held in multiple currencies.

Finally, an Offshore / Investment Account is available to both individuals and legal entities. This account is ideal for wealth management, offering privacy and international access, and is typically held in multiple currencies under offshore licensing.

How to Open a Bank Account in Antigua

Opening a bank account in Antigua and Barbuda is a structured process designed to meet international compliance standards. Whether you’re a resident, expatriate, entrepreneur, or investor, following the correct steps helps ensure a smooth application experience.

Step 1: Select Your Bank

Research and choose a bank that aligns with your financial needs refer to the ‘Top Banks’ section above for a detailed comparison

Step 2: Gather and Submit Required Documents

Prepare all necessary documentation before applying to avoid delays. Requirements can vary, but the following are standard:

Required Documents for Individuals

• A valid passport or national ID
• Proof of address (e.g., utility bill, bank statement, or rental agreement)
• Proof of income or employment (employer letter or financial statements for self-employed clients)
• Bank reference letter or letter from a recognized professional (required for foreigners)
• Source of funds documentation, such as recent bank account statements or real estate contract

Required Documents for Legal Entities

If a foreign company wishes to open a corporate account:

• Certificate of incorporation and articles of association
• Register of shareholders and directors
• Two identification documents per director and beneficial owner
• Certificate of Good Standing (if applicable)
• Recent financial statements
• Tax Identification Number (TIN)
• Bank reference letter

Non-residents can open accounts remotely or through local representation, often facilitated by an authorized consultancy.

Application Process

In-Person: Schedule an appointment or visit your chosen bank’s branch with your documents.

Remote: Many banks support online or email-based applications for non-residents, provided notarized/certified documents are submitted in English.

Initial Deposit: Some banks require a minimum initial deposit to activate the account—confirm this before applying

Processing Time

Personal accounts: typically 1–2 weeks

Corporate accounts: 2–4 weeks, depending on document review and due diligence

Mirabello Consultancy can assist you throughout the process and facilitate remote bank account openings for international clients.

Note: Document requirements may vary by institution. Depending on the banks in Antigua and Barbuda verification process.

Advantages of Banking in Antigua and Barbuda

• Economic stability supported by the ECCB and a fixed U.S. dollar peg (1 USD = 2.70 XCD).
• No restrictions on foreign currency accounts or transfers.
• Favorable tax structure, particularly for offshore and investment account holders.
• Modern banking technology, including digital and online transactions.
• Confidential and compliant financial governance, suitable for international clientele.

Can a foreigner open a bank account in Antigua and Barbuda?

Foreign individuals, companies, and non-resident investors can open accounts. Banks follow the Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols established by the Eastern Caribbean Central Bank (ECCB).

What are the Challenges with the Banks in Antigua and Barbuda?

While Antigua’s banking environment offers security and opportunity, clients must ensure compliance with international AML (Anti-Money Laundering) standards. Some banks may have longer verification timelines for foreign accounts or investment-linked transactions.

Why Antigua and Barbuda Leads the Caribbean in Global Opportunities

Antigua and Barbuda continues to be one of the Caribbean’s most desirable destinations for investors seeking secure, profitable ventures supported by a pro-business environment. The country’s government actively promotes foreign investment, offering financial incentives and streamlined approval processes through the Antigua and Barbuda Investment Authority (ABIA).

Investors benefit from:

• No capital gains, inheritance, or wealth taxes, making the jurisdiction ideal for asset diversification.
• Tax holidays and duty-free concessions designed to attract high-value international projects.
• Full repatriation of profits and dividends, ensuring investor freedom and financial security.

Investment prospects are diverse, spanning key sectors such as:

• Real estate: Government-approved developments, beachfront villas, resorts, and mixed-use projects catering to tourism and hospitality.
• Tourism and yachting: A rapidly expanding sector contributing over 50% of GDP, with growing demand for luxury accommodations, ecotourism, and marina infrastructure.
• Finance and banking: Opportunities in fintech, digital services, and offshore banking supported by strong regulatory standards.
• Agriculture and renewable energy: Government-backed initiatives encouraging sustainable farming, solar, and wind investment.
• Business Process Outsourcing (BPO): A skilled, English-speaking workforce and digital infrastructure provide a competitive advantage for outsourcing ventures.

The combination of accessibility, investor protection, and lifestyle appeal makes Antigua and Barbuda a powerful gateway for international entrepreneurs and high-net-worth individuals aiming to expand in the Caribbean region.

Bank Security and Regulatory Oversight in Antigua and Barbuda

Banking security in Antigua and Barbuda is anchored in strong legislation, advanced digital protection, and ongoing regulatory oversight. The nation’s banks operate under the Banking Act (2015) and the Banking (Amendment) Act 2025, which introduce enhanced consumer safeguards and tighter supervision of digital and financial operations.

All financial institutions are licensed and regulated by two primary authorities:

• The Eastern Caribbean Central Bank (ECCB) – overseeing monetary policy, licensing, and prudential supervision.
• The Financial Services Regulatory Commission (FSRC) – monitoring offshore banks, financial service providers, and their compliance with global standards.

Digital Security and Customer Protection

Antigua’s banks have adopted state-of-the-art cybersecurity to protect client funds and data.

• Online banking systems use 256-bit SSL encryption, firewall protection, and two-factor authentication (2FA) to prevent unauthorized access.
• Regular penetration tests and cybersecurity audits are mandatory under FSRC regulations.
• Mobile and e-banking platforms employ biometric login options, session time-outs, and fraud detection algorithms to ensure safe transactions.

Under the new 2025 Banking Amendment Bill, banks are now subject to continuous monitoring for data handling, fraud prevention, and customer complaint management. This reform gives the ECCB the power to cap service fees and demand improved transparency from financial institutions.