Anguilla Anguilla



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$50k
Directors
Minimum number One
Local required No
Publicly accessible records No
Location of meetings Anywhere
Shareholders
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

EECIntroduction
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.

EECPopulation
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.

EECPolitical Structure
In 1967, Anguilla succeeded from Associated Statehood with St. Kitts and Nevis, opting for direct British rule, which was officially granted in 1981. 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 defence and foreign affairs. Elections are held at least once in every five years; electoral representation is parliamentary (as opposed to presidential).

EECInfrastructure 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 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.

EECLanguage
The official and spoken language is English.

EECCurrency
Eastern Caribbean ($EC) and $US dollar.

EECExchange 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.

EECType of Law
Anguilla's legal system is based upon English Common Law, with local modifications. The judiciary 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.

EECPrincipal Corporate Legislation
International Business Companies Ordinance 2000.

COMPANY INFORMATION

EECType of Company for International Trade and Investment
International Business Company (IBC).

EECProcedure 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.

EECRestrictions 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.

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

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

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

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

EECName 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.

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

EECNames 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.

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

EECDisclosure of Beneficial Ownership to Authorities
No.

COMPLIANCE

EECAuthorised 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.

EECClasses of Shares Permitted
Par value shares and shares with no par value.

EECTaxation
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.

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

EECLicence Fees
Government annual fees are US$ 200.

EECFinancial 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.

EECDirectors
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.

EECCompany Secretary
Not required, but normally appointed.

EECShareholders
The minimum number of shareholders is one.

EECDisclaimer
Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. Europe Emirates Consultancy does not accept any responsibility, legal or otherwise, for any errors or omission