Antigua and Barbuda Country Summary
Sanctions
No
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Antigua & Barbuda is no longer on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Antigua & Barbuda was undertaken in November 2021. According to that Evaluation, Antigua & Barbuda was deemed Compliant for 11 and Largely Compliant for 25 of the FATF 40 Recommendations. It remained Highly Effective for 0 and Substantially Effective 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
There are no international sanctions currently in force against this country
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | 62 |
Antigua and Barbuda has laws in place to combat corruption, including criminal penalties for officials, but allegations of corruption are prevalent and investigations often yield little result. The Integrity in Public Life Act mandates public officials to disclose their income and assets, yet enforcement is criticized as inadequate due to the commission being understaffed and under-resourced. Although the Freedom of Information Act aims to provide citizens access to official documents, practical challenges hinder this process, suggesting a need for stronger enforcement and resources.
Economy
Antigua and Barbuda's economy is primarily driven by tourism and related sectors, which are crucial for its growth. The International Monetary Fund (IMF) forecasts a 6.1 percent economic growth in 2024, supported by a rebound in tourism and increased construction activity, with positive real GDP growth expected to continue through 2025.
Antigua and Barbuda's investment climate is characterized by a strong encouragement of foreign direct investment (FDI), particularly in priority sectors such as tourism, agriculture, and marine services. The Antigua and Barbuda Investment Authority (ABIA) plays a crucial role in facilitating and supporting FDI, ensuring that all investors receive equal business facilitation services. Notably, there are no restrictions on foreign ownership, allowing investors to hold up to 100 percent of their investments.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
