Population

Anguilla supports a population estimated at 14,764 people. The island is generally flat with occasional rain, but has the finest powder white sand beaches in the Caribbean. The official language is English, and the primary industries are tourism (with many world class resorts and restaurants, catering to high net worth individuals from the United States, Europe & Latin America), financial services, boat building & fishing. Living standards and education are both quite high.

Political Structure

In 1971, Anguilla seceded from Associated Statehood with St. Kitts & Nevis, choosing direct British rule, which officially was granted in 1980. Anguilla is a stable society and strong democracy, peacefully governed by an Executive Council of Ministers appointed from the Legislative Council of elected members, led by a British appointed governor. Britain maintains responsibility for defence and the foreign affairs of Anguilla. Elections are held at least once every five years; electoral representation is parliamentary (as opposed to presidential).

Infrastructure & Economy

Anguilla is located approximately 1.5 hours southeast of Miami, Florida, or 4.5 hours southeast of New York City. There are flight connexions to Anguilla from these and other American cities, as well as from Europe & Latin America through Puerto Rico, St. Maarten, Antigua & Curacao.
Communications facilities on Anguilla are exceptional, and growing rapidly. International direct dialling, cellular connections, fax, modem, Internet & dedicated e-mail service lines are all available.

Language

The official and spoken language is English.

Currency

Eastern Caribbean ($EC) dollar is the official currency, although U.S. Dollar is a commonly used.

Exchange Control

There are no exchange controls and the U.S. Dollar circulates freely throughout the economy. Bank accounts can be held in U.S. Dollars in either personal or corporate savings accounts, checking accounts, CDs or other investment instruments.

Type of Law

Anguilla legal system is based on English Common Law with local modifications. The judiciary in Anguilla is independent of the executive and legislative branches, and is completely independent of political influence. Anguilla has, since 1992 (and especially in 1994), introduced and adopted numerous pieces of modern financial services legislation. These laws were developed with the involvement of all elected legislators, with advice from the private sector practitioners, and the consent of British Government representatives.

Principal Corporate Legislation

• International Business Companies Act 2000.
• The Limited Partnership Act 2000
• Companies Act 2000
• The Companies Act 2000

Type of company for international trade & investment

International Business Company (IBC).

Procedures to Incorporate

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

Restrictions on Trading

An IBC is restricted from doing business with people 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, maintain bank accounts, retain professional advisors carrying on business within Anguilla, maintain corporate records, hold meetings and rent 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 & corporate documents

The legislation and the language of corporate documents is English.

Registered Office Required

Yes, must be maintained in Anguilla at the address of a licenced management company or law firm.

Time to Incorporate

On line incorporation will allow approved sub-agents in Anguilla to incorporate within minutes. If not, twenty-four hours is required.

Name Restrictions

Any name that has already been incorporated, or a name so similar as to cause confusion. Restricted names are those who suggest that the protection of the Royal Family, the British government, a political party, a university, a professional association, or names that the registrar may consider to be misleading or inappropriate.

Language of Name

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

Name Requiring Consent or a License

Each name that implies a relationship with the banking or insurance or company management industries-e.g. Banking, finance, trust & insurance.

Suffix 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 the Authorities

No

Authorized & Issued Share Capital

The usual authorised share capital is US $50,000 divided into 50,000 shares of U.S. $1, this is the highest capital to the minimum fees for incorporation and annual fees. The share capital may be expressed in other currencies. The minimum issued capital is one share.

Classes of Shares Permitted

Par value shares and shares without nominal value.

Taxation

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

Double Taxation Agreements

Anguilla isn't party to any double tax treaties.

Licence

The Government annual fees are U.S. $200

Financial Statements Required

There is no requirement to submit accounts to the authorities but a company is required to keep financial records that correspond to the financial position of the company.

Directors

The minimum number of directors is one. Board members can be normal people or business people. They can be of any nationality and need not be a resident in Anguilla.

Company Secretary

Not necessary, but normally appointed.

Shareholders

The minimum number of shareholders is one.

How can I get more information on company formation in Anguilla?

Please contact us if you wish to open a company in Anguilla and we will be pleased to discuss your Anguilla company formation matters in greater detail.

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