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Anguilla

Introduction

Anguilla is a British Overseas Territory in the Eastern Caribbean, comprises a small main island and several offshore islets. The island’s capital is the Valley.

It is one of the most northerly of the Leeward Islands in the Lesser Antilles, lying east of Puerto Rico and the Virgin Islands and directly north of Saint Martin.

The total land area of the territory is 102 sq km.

Population:

population of approximately 14,764 (2016 estimate). The majority of residents (90.08%) are black, the descendants of slaves transported from Africa. Minorities include whites at 3.74% and people of mixed race at 4.65% (figures from 2001 census).

72% of the population is Anguillian while 28% is non-Anguillian (2001 census). Of the non-Anguillian population, many are citizens of the United States, United Kingdom, St Kitts & Nevis, the Dominican Republic, Jamaica and Nigeria.

Official language

is English. Other languages are also spoken on the island, including varieties of Spanish, Chinese and the languages of other immigrants.

Political Structure

Anguilla is an internally self-governing overseas territory of the United Kingdom. Its politics take place in a framework of a parliamentary representative democratic dependency, whereby the Chief Minister is the head of government, and of a pluriform multi-party system.

Executive power is exercised by the government. Legislative power is vested in both the government and the House of Assembly. The judiciary is independent of the executive and the legislature.

Economy

Anguilla main industries are tourism, offshore incorporation and management, offshore banking, captive insurance and fishing.

Offshore companies based in Anguilla have become increasingly sought after both for their high level of confidentiality and their speed of registration.

Currency:

East Caribbean dollar (XCD). Though the US dollar is also widely accepted. The exchange rate is fixed to the US dollar at US$1 = EC$2.70.

Exchange Control:

Anguilla welcomes foreign investors and one of the investment incentives is that there are no currency or exchange controls in Anguilla.

Financial services industry:

Anguilla's financial system comprises 7 banks, 2 money services businesses, more than 40 company managers, more than 50 insurers, 12 brokers, more than 250 captive intermediaries, more than 50 mutual funds and 8 trust companies.

Corporate Law/Act

Anguilla has become a popular tax haven, having no capital gains, estate, profit or other forms of direct taxation on either individuals or corporations.

Type of Company/Corporation:

One IBC Limited can incorporate a company with your choice of name and confirm the availability of names in advance. The type of company we incorporate in Anguilla is International Business Company (IBC).

Business Restrictions:

An Anguilla IBC must not conduct business with residents of Anguilla, own interest in real property in Anguilla, or conduct business in banking or trust and insurance businesses (without an appropriate license).

Company Name Restriction:

An Anguilla offshore company’s name must end with a word, phrase, or abbreviation that indicates Limited Liability, such as "Limited", "Ltd.", "Société Anonyme", "S.A.", "Corporation", "Corp.”, “Incorporation”, or “Inc.” Restricted names include those suggesting the patronage of the Royal Family or the UK Government such as, "National", "Royal", "Republic", "Commonwealth", "Government", "Govt", or "Anguilla".

Company Information privacy:

The IBC Act makes it an offence for anyone including an auditor or official liquidator to reveal any information regarding an Anguilla corporation, except by order of the Court, and solely relating to criminal activities.

The names of the shareholders and directors are not part of any public record and are known only to the registered agent.

Incorporation Procedure

You do not have to come to Anguilla to register your company in what is one of the best places to incorporate. With your instructions, we will do it all for you.

Just 4 simple steps are given to incorporate a Company in Anguilla:

  • Step 1: Select basic Resident/Founder nationality information and other additional services which you want (if any).
  • Step 2: Register or login and fill in the company names and director/ shareholder(s) and fill in billing address and special request (if any).
  • Step 3: Choose your payment method (We accept payment by Credit/Debit Card, PayPal or Wire Transfer).
  • Step 4: You will receive soft copies of necessary documents including: Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in Anguilla is ready to do business. You can bring the documents in company kit to open corporate bank account or we can help you with our long experience of Banking support service.

* These documents required to incorporate company in Anguilla:

  • Passport of each shareholder/beneficial owner and director;
  • Proof of residential address of each director and shareholder (Must be in English or certified translation version);
  • The proposed company names;
  • The issued share capital and par value of shares.

Compliance

Capital:

The share capital can be denominated in any currency approved by the Registrar of Companies. The usual minimum issued is US$ 1 and the usual authorised is US$ 50,000.

Share:

Anguilla IBC shares may be issued in a variety of forms and classifications and may include: Par or No Par Value, voting or non-voting, Preferential or Common and Registered or Bearer form.

Director:

  • Only one director is required.
  • Director may be of any nationality and reside in any country
  • Director may be either a natural person or a a corporate entity.

Shareholder:

  • Only one shareholder is required.
  • Shareholder may be of any nationality and reside in any country
  • Shareholder may be either a natural person or a a corporate entity.
  • Nominee Shareholders and directors are allowed and we can provide this service.

Beneficial Owner:

The information on the Beneficial Owners is kept at the Registered Office and not available to the public.

We offer Nominee Services for Anguilla corporations to provide for your further confidentiality and privacy.

Taxation:

Law provides Tax Exemption for offshore companies beginning from the day of incorporation.

Finance statement:

Annual accounts or financial statements are not required to be filed with the Anguilla Commercial Registry although, there are requirements for the directors to maintain financial information to enable them to operate and function properly in Anguilla.

There is no requirement to appoint an auditor.

Local Agent:

There is no statutory requirement for a secretary or other officers for Anguillan corporations; however, if officers are required they can also be directors and shareholders.

Double Taxation Agreements:

There are no dual Taxation Treaties with other countries; therefore there is no requirement for exchange of information with other Tax Authorities.

License

License Fee & Levy:

Incorporation in Anguilla are required to apply to the Ministry of Finance for a business licence. Once the application is approved, the required fee is sent to the Inland Revenue Department for payment. Upon receipt of payment, IRD issues a business certificate.

Payment, Company return due Date:

Annual maintenance fees which are due on January 1st. of the year following the date of incorporation and every January thereafter.

Penalty:

Annual fee paid after due date: An international business company that fails to pay the annual fee by the due date shall, in addition to the annual fee, pay a penalty of an amount equal to 10% of the annual fee.

Annual fee paid 3 months later: An international business company that fails to pay the annual fee and the penalty due before the expiration of 3 months from the due date shall, in addition to the annual fee, be liable to pay a penalty of an amount equal to 50% of the annual fee.

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