What are LLCs used for?
The International LLC Act of Antigua is structured so that LLCs incorporated under it will have significant asset protection and estate planning benefits. On the asset protection side, a member’s interest is shielded from seizure by charging order protection which means that if there if a personal judgment against the member that member’s interest is protected, and the only remedy a judge can order is to require the company to pay to the judgment creditor any amount that the company would have paid to the member as a distribution. In other words, when a company makes a distribution to its members, it will pay all the members other than the member against which a charging order has been issued – that member’s share of the distribution will go to the judgment creditor. In addition to the charging order protection, the legislation has very strong fraudulent conveyance and confidentiality provisions.
