Basic Introduction

Anguilla is one of Britain's Overseas Territories in the Caribbean and as such it enjoys a high degree of political stability. All political parties are strongly committed to the growth of Anguilla as a quality financial services center.

Although the country is essentially self governing, its legislature is the democratically elected House of Assembly. The Constitution gives the British appointed Governor certain fundamental reserve powers. All legislation must be assented to by the Governor as H.M. The Queen's representative.

The significant growth in Government revenues earned from the financial services sector over the last few years is a testament to the success of the policies to date. Anguilla is well positioned as a major player in the international arena.

Anguilla is a common law jurisdiction. Its judicial system is administered by the Eastern Caribbean Supreme Court the appeal process culminates with the Privy Council. The Court system is serviced by a number of firms of fully qualified and experienced lawyers.

The professional infrastructure is well-developed, with major accounting firms represented on the island. The telecommunications system is of a world standard providing direct access worldwide.

Unlike many financial services centers, Anguilla is truly a neutral tax jurisdiction. 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. This makes Anguilla a very attractive location for financial services professionals to base themselves. The Government recognizes the desirability of expanding Anguilla's professional infrastructure and has very recently established a new programmer allowing for multi-year work permits of up to four years duration and relaxed residency rules.

Anguilla has three types of companies:

* The Ordinary Company/ Anguilla Business Company (ABC)

* The International Business Company

* The Limited Liability Company

Advantages & Features

(1) Well-regulated financial services industry

(2) Common law legal system based on English law

(3) Well developed professional infrastructure

(4) World standard telecommunications system

(5) Easy air access to North America and Europe

(6) Competitive pricing

(7) Modern legislation

(8) Stable Government

(9) Indirect tax jurisdiction

(10) No foreign exchange restrictions

(11) Accessibility to the Regulators, Registry and Ministers

(12) World’s most efficient and first fully electronic registry

(13) Anguilla is not party to any double tax treaties

Official Requirements

(1) Authorized Capital: The normal authorized 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.

(2) Director(s): 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.

(3) Company Secretary: Not required, but normally appointed.

(4) Shareholder(s): The minimum number of shareholders is one.