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Antigua & Barbuda Investment Advisor License Guideline

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Antigua & Barbuda Investment Advisor License Guideline

Antigua & Barbuda Investment Advisor License
The Securities Act, 2001, provides the legal framework for the provision of the Investment Advisor Services in Antigua & Barbuda.
Permitted Activities
As per the Act, an Investment Advisor means a person carrying on business of:

  1. Advises others concerning investment in securities;
  2. Issues analyses or reports concerning specific securities; or
  3. Manages a portfolio of securities for another person –
  4. Without holding property of the other person; and
  5. On terms that preclude him from doing so.

Legal Requirements

Sr.
No		ElementRequirement(s)
 Entity RequirementsAn applicant could be a company registered or incorporated under the Companies Act of a Member Territory or an individual resident in a Member Territory.
 Director’s RequirementsThe licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.
 Shareholder requirements
  • The investment dealer will need at least one shareholder.
  • Corporate shareholding is allowed and 100% foreign ownership is permitted.
 Compliance OfficerThe Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.
 Licensed PrincipleThe Applicant must employ at least one individual who is licensed as a principal.
The Principle must:
  1. Have successfully completed the ECSM Certification Examination Program.
  2. Have sufficient educational or other qualifications or experience;
  3. Have sufficient authority within the company;
  4. Be a fit and proper person, to supervise the business for which the company that has nominated him is licensed or is applying to be licensed;
 Authorized RepresentativeThe Applicant must employ at least one individual who is licensed as a representative.
The representative must:
  1. Have successfully completed the ECSM Certification Examination Program.
  2. Have sufficient educational or other qualifications or experience;
  3. Be a fit and proper person to be licensed as a representative;
 Local OfficeThe applicant must have premises acceptable to the ECSRC. The premises should be able to facilitate confidential interaction between the applicant and its clients, and provide for safe and confidential storage of documents.
 AuditorThe Licensee, within one month after becoming licensed, shall appoint an external auditor who is acceptable to the Commission
 InsuranceThe applicant must have indemnity insurance coverage or a fidelity bond acceptable to the ECSRC.
 Minimum Capital RequirementsThe Applicant must have the prescribed minimum paid-up capital and is able to meet the prescribed minimum net liquid capital requirement in cash or readily marketable securities.
The prescribed minimum paid-up capital is EC$ 250,000 (Approximately USD 93,000)

Ongoing Obligations

  1. Licences are to be renewed annually on 1 April. On application for renewal of a licence, the ECSRC, if satisfied that the applicant is a licensee of good standing, may grant the renewal on payment by the applicant of the annual renewal licence fee
  2. Filing of Audited Accounts: The licensee shall for the financial year beginning on the day on which it commences to carry on securities business; and for each subsequent year submit to the Commission, within ninety days after the end of the financial year, audited financial statements prepared in accordance with international accounting standards, and which contain such additional information as may be prescribed.
  3. The Licensee must maintain appropriate policies of insurance for the purpose of indemnifying such licensee against any liability that may be incurred as a result of any act or omission by the licensee or any of its officers or employees in the conduct of the licensee’s securities business.

About Valsen Fiduciaries
Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.

    1. Company formations and Administration
    2. Assistance with Bank Account opening
    3. Collective Investment Setup and Administration
    4. Intellectual Property Registrations and Maintenance.
    5. Trusts and Foundations setup and administration
    6. Online Payment Gateway Solutions
    7. Banking Licenses and PSP, E-Money, E- Wallet Licenses
    8. Yacht and aircraft registrations.
    9. Cryptocurrency Solutions (ICO, STO, Crypto Exchanges etc)

The Valsen Advantage

  • We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealing and advisory licenses in all major jurisdictions.
  • Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  • We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  • We have a full in-house compliance support for all compliance requirements with the regulator and service providers

Our Contact Details
Please visit us on: www.offshorelicense-regulatory.com , www.valsen-corporate.com
OR Contact us on:

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  • Email: info@valsenfiduciaries.com