The Bible speaks of the Dead being concious of nothing at Ecclesiastes9:5. So the dead are in the grave.
However John5:28-29 speaks of a Ressurection of the Righteous and Unrighteous, so in God's due time he will awaken those asleep in death.
Those who are resurrected the bible says will live on the Earth, Psalm37:29
They will live on the Earth under good conditions as brought out at Isaiah 65:21-25.
So regarding an Afterlife, technically yes there will be but not in the sense where people believe the Soul continues on after death.The afterlife will be after the resurrection, righteous people will live on the earth forever under paradisaic conditions.
For more information please visit
www.jw.org