Anguilla IBC Offshore Company Information

Anguilla Offshore Company Overview

Anguilla is truly a neutral tax jurisdiction (unlike many offshore financial services centres). There are no income, capital gains, estate, profit or other forms of direct taxation on either individuals or corporations, whether resident in Anguilla or not. So in this context Anguilla, although regarded by some as a tax haven, has an advantage over many offshore centres in that it does not have 'designer' taxation targeting offshore or non-resident business. The Anguilla Offshore Company is based on the traditional IBC model. Companies incorporated in any other jurisdiction may be continued in Anguilla as an Anguilla Offshore Company. An Anguilla Offshore Company can, where the laws of another jurisdiction permit, redomicile to such jurisdiction.

 Key Corporate Features

	General
	Type of entity:		IBC
	Type of law:		Common
	Shelf company availability:		Yes
	Our time to establish a new company:		1 hour
	Minimum government fees (excluding taxation):		US$200
	Corporate taxation:		Nil
	Double taxation treaty access:		No
	Share capital or equivalent
	Standard currency:		US$
	Permitted currencies:		Any
	Minimum paid up:		US$1
	Usual authorised:		US$50,000
	Directors or Managers
	Minimum number:		One
	Local required:		No
	Publicly accessible records:		No
	Location of meetings:		Anywhere
	Members
	Minimum number:		One
	Publicly accessible records:		No
	Location of meetings:		Anywhere
	Company Secretary
	Required:		Optional
	Local or qualified:		No
	Accounts
	Requirement to prepare:		Yes
	Audit requirements:		No
	Requirement to file accounts:		No
	Publicly accessible accounts:		No
	Other
	Requirement to file annual return:		No
	Change in domicile permitted:		Yes

Anguilla, the most northerly of the Caribbean Leeward Islands, has a landmass of 91 sq km and was originally inhabited by, and was an important home island to, the Arawak Indians, an indigenous Caribbean race. Numerous significant artefacts have recently been unearthed which establish the Fountain (a fresh water underground spring) and other Island sites as important archaeological finds which now draw substantial international interest. The British established control of Anguilla in the late 1600's, prevailing in numerous skirmishes with other European powers throughout the colonial period, so that today Anguilla is a British Dependent Territory.

Population
Anguilla supports a population estimated at 12,000. The Island is generally flat with occasional rainfall, but has the finest powder white sand beaches in the Caribbean. The official language is English; the primary industries are tourism (featuring numerous world class resorts and restaurants, catering to high net worth individuals from the United States, Europe and Latin America), financial services, boat building and fishing. The standard of living and the level of education are both quite high.

 

Political Structure
In 1967, Anguilla succeeded from Associated Statehood with St. Kitts and Nevis, opting for direct British rule, which was officially granted in 1982. Anguilla is a stable society and strong democracy, peacefully governed by an Executive Council of ministers appointed from the Legislative Council of elected members, presided over by a British appointed Governor. Britain maintains responsibility for the defence and foreign affairs of Anguilla. Elections are held at least once in every five years; electoral representation is parliamentary (as opposed to presidential).

 

Infrastructure and Economy
Anguilla is located approximately one and a half hours south east of Miami, Florida, or four and a half hours south east of New York City. There are flight connections to Anguilla from those and other United States cities, as well as from Europe and Latin America, through Puerto Rico, St. Maarten, Antigua, and Curacao.
Communications facilities on Anguilla are exceptional, and expanding. International direct dialling, cellular connections, fax, modem, Internet, and dedicated e-mail service lines are all available.

 

Language
The official and spoken language is English.

 

Currency
Eastern Caribbean ($EC) dollar.

 

Exchange Control
There are no Foreign Exchange controls, and the US dollar circulates freely throughout the economy. Bank accounts can be maintained in US dollars in either personal or corporate savings accounts, checking accounts, CD's, or other investment instruments.

 

Type of Law
Anguilla's legal system is based upon English Common Law, with local modifications. The judiciary in Anguilla is independent of the Executive and Legislative branches, and is fully independent of political influence. Anguilla has, since 1992 (and specifically in 1994), introduced and adopted numerous pieces of modern financial service legislation. These laws were drafted with the involvement of all elected legislators, with the advice of the private sector practitioners, and the consent of British Government representatives.

 

Principal Corporate Legislation
International Business Companies Ordinance 1994 as amended.

International Business Company (IBC).

Procedure to Incorporate
On line incorporation is available to approved sub-agents to provide instant incorporation. Alternatively, filing a basic two-page form (i.e. Form 8, The Articles of Incorporation) is the only requirement.

Restrictions on Trading
An IBC is restricted from conducting business with persons resident on Anguilla, conducting banking or trust business, conducting insurance or reinsurance business, or conducting the business of providing company management services. On Anguilla, an IBC may maintain bank accounts, retain professional advisors carrying on business within Anguilla, maintain corporate records, hold meetings and lease office space.

Powers of Company
An International Business Company has the full capacity of, and all rights, powers, and privileges of, a natural person.

Language of Legislation and Corporate Documents
The legislation and language of corporate documents is English.

Registered Office Required
Yes, must be maintained in Anguilla at the address of a licensed management company or law firm.

Time to Incorporate
On line incorporation will allow approved sub-agents in Anguilla to incorporate within minutes. Otherwise, 24 hours is required.

Name Restrictions
Any name that has already been incorporated or a name that is so similar as to cause confusion. Restricted names are ones that suggest the patronage of the Royal Family, the UK Government, a political party, a university, a professional association, or names that the registrar may consider to be misleading or objectionable.

Language of Name
On line incorporation allows for names in virtually any language or alphabet, including Chinese characters.

Name Requiring Consent or a Licence
Any name implying a relationship with the banking or insurance or company management industries- e.g. bank, financial, trust and insurance.

Suffixes to Denote Limited Liability
The name of an IBC must end in one of the following: Ltd, Corp, Inc, SA, NV or GmbH.

Disclosure of Beneficial Ownership to Authorities
No.

 

Authorised and Issued Share Capital
The usual authorised share capital is US$50,000 divided in to 50,000 shares of US$1, this being the maximum capital for the minimum fees for incorporation and annual fees. The share capital can be expressed in any currency. The minimum issued capital is one share.

Classes of Shares Permitted
Par value shares and shares with no par value

Taxation
Anguilla is a pure tax haven and has no direct taxation in the form of income tax, capital gains tax, gift tax or inheritance tax.

 Double Taxation Agreements
Anguilla is not party to any double tax treaties.

Licence Fee
Government annual fees are US$200.

Financial Statements Required
There is no requirement to file accounts with the authorities but a company is required to keep financial records that reflect the financial position of the company.

Directors
The minimum number of directors is one. The directors may be natural persons or corporate bodies. They may be of any nationality and need not be resident in Anguilla.

Company Secretary
Not required, but normally appointed.

Shareholders
The minimum number of shareholders is one.