A group whose principals trade in precious metals is seeking to establish a presence in Antigua the government here announced today.
Based on discussions held in Cabinet, the group’s business is to purchase small quantities of precious metals from multiple traders in South and Central America, and then sell wholesale to users of precious metals in North America, Asia and other places.
“The precious metals, upon entering Antigua, would be held in a bonded warehouse; within a short period following, the products would be exported to their several destinations,” the government reported.
The Cabinet reportedly inquired of the Government’s interest in realizing either employment or taxes from the operation.
“The group assured the Cabinet that an increase in indirect benefits from banking services would accrue; and, placing the country’s marketplace for precious metals on the world market would result in a flow of increased interest in Antigua and Barbuda. ABST would also be paid on services that would yield significant returns.”