The Antiguan Senate has approved sweeping amendments to the country's Special Economic Zone (SEZ) legislation, introducing tighter financial oversight measures for both new applicants and existing operators. According to Antigua News Room, the updated law marks the fourth revision to the SEZ framework since 2015.
Under the amended legislation, any entity seeking to develop or operate within a special economic zone must disclose detailed information regarding ownership, business structure, and the source of its funds. Licences will only be granted to applicants deemed "fit and proper" and capable of complying with anti-money laundering and counter-terrorism financing regulations.
The amendments explicitly tie SEZ operations to compliance with domestic laws governing money laundering prevention, terrorism financing, and the proliferation of weapons of mass destruction. Existing businesses operating within the zones fall under the new regime as well and will have six months to meet the enhanced requirements.
Operators are now required to implement systems to detect and prevent illicit financial activity and must cooperate with regulatory authorities, including financial oversight bodies, law enforcement agencies, and tax authorities. The legislation also reinforces that special economic zones remain fully under government jurisdiction, with customs, immigration, police, and financial regulators retaining authority to monitor and enforce compliance.
Regulators have been granted expanded powers to conduct inspections, and the law now prohibits unlicensed financial services and unauthorized digital asset activities within the zones. Businesses must also obtain a separate operational permit before commencing activities, with all financial compliance checks completed in advance.
Applications will be reviewed by a government-appointed committee tasked with assessing ownership structures, financial standing, and potential risks of illegal activity. Despite the tighter controls, the government retains the ability to offer tax incentives and other benefits to attract foreign investment.
