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Anguilla

General Information

Anguilla is the northernmost of the Leeward Islands and is located in the northeastern Caribbean Sea, approximately 950 miles south east of Miami.

There is an estimated population of 18,090 inhabitants and a land area of 91 square kilometers. 

The island is an Overseas Territory of the United Kingdom with a legal system based on the English common law with local modifications. 

Anguilla is governed by an Executive Council appointed by the Governor from amongst the elected members of the House of Assembly. 

The United Kingdom is responsible for the defense and foreign affairs of Anguilla.

Anguilla has offered a superior level of efficiency and service for over 30 years, providing a suite of financial services products that provide efficiency, flexibility, stability and tax neutrality.

Highlights of Anguilla companies

  • Creation status, and business of Anguillan IBCs are governed by the International Business Companies Ordinance of 1994 (amended in 2000) which comprises all the most desirable aspects and features of this modern type of legislation.
  • The Anguillan IBC is an extremely flexible product which provides for minimal reporting, no requirements to file financial statements and no requirements to disclose beneficial ownership.
  • ACORN (Anguilla’s Commercial Online Registration Network), allows agents from other countries to incorporate online and streamlines the incorporation process of Anguilla IBCs. The registered agents have secure, encrypted access to the system.

In addition to the IBC, the corporate ordinances provide for limited liability (or limited life) companies and ordinary companies which, due to Anguilla’s zero tax status, can be used as domestic or international vehicles.

Companies limited by guarantee, hybrid companies, and nonprofit companies are also permitted.

Corporate Requirements

Name: The name of an IBC is allowed to use ending words in different languages, for example: “Limited”, “Ltd. “, Corporation”, “Corp.”, “Société à Responsabilité Limitée”, “SARL”, “Sociedad Anonima”, “S.A.”, “Gesellschaft mit beschrankter Haftung”, “GmbH”.  The name of an IBC shall not be the same as, or similar to, the name or business name of any other person or of any association, partnership, or firm, if the use of that name would be likely to confuse or mislead, unless the person, association, partnership or firm consents in writing to the use of that name in whole or in part.  The words: “Assurance”, “Bank”, “Building Society”, “Commonwealth”, “Co-operative Society”, “Fidelity”, “Friendly Society”, “Fund”, “Guarantee”, “Indemnity”, “Insurance”, “Re-insurance”, “Trust”, “Trustee”, “Underwriter” or any derivatives of any of these words cannot be used.

Also, names shall not suggest or imply the patronage of Her Majesty or any member of the Royal Family or connection with Her Majesty’s Government or any department thereof in the United Kingdom or elsewhere, such as: “Royal”, “Imperial”, “Empire”, “Municipal”, “Chartered”, “Queen” or any derivatives of any of these words.

Capital / Shares: Capital of an IBC may be denominated in any currency approved by the Registrar and the par value of shares with a par value, if any, shall be expressed in the same currency.

There are no minimum or maximum capital requirements, but the standard is $50,000.00. 

Shares must be issued in registered form as bearer shares are not permitted.

 Subscribers: One or more persons, over 18 years old, fully abled and solvent may incorporate an IBC company.

Register of Members/Shareholders: IBCs need to have a minimum of one shareholder.

There is no requirement to hold meetings on the island and provides that meetings may be held in person, by telephone or by other electronic means.

There is no requirement to file the details of the shareholders in any public record.

A copy of the share register must be kept at the Registered Office from the date of registration of the Company.

Registered Office / Agent:  According to the local legislation, the company must maintain a registered agent and a registered office address in the territory of Anguilla. 

Directors / Officers: A minimum of one director is required and corporate directors are permitted. 

There is no requirement to file the details of directors on any public register.

Books, Records, and Seal: There is no requirement to file accounts.

The only requirement is that the company must pay the annual fee to the local government on the anniversary date of its incorporation together with a simple, two-page annual return. 

The books and records are required to be kept at the companies registered office or at such other place as the directors may, by resolution, determine. 

The IBC shall have a common seal and an imprint thereof shall be kept at the registered office of the company.

Accounting Records: All IBCs must keep records and underlying documents which are sufficient to explain the transactions of the company and allow determining its financial position at any time.

The records and underlying documents must be kept at the registered agent’s office or at any other place determined by a resolution of directors. 

Where the records and underlying documents are kept at a place other than at the registered office, the company must provide to the agent a written confirmation of the physical address of the place at which the records and underlying documentation are kept and the name of the person who maintains and controls them.

The registered agent must have full access to the records and underlying documentation at any time, in case it is required by the authorities.

If there are any changes in the above-mentioned information, the registered agent of the company must be informed in no more than 14 days.

Economic Substance

Economic substance laws came into effect in Anguilla in early January 2019.

(International Business Companies (Economic Substance) Regulations 2019). 

The authorities are working on the implementation of the Economic Substance Guidelines which are expected to be released during 2021.

Taxation

There are no direct taxes in Anguilla such as income tax, corporation tax, capital gains tax, profit tax, gift tax or death duties.

Annual License Fee, due date and penalties

There is a US$200.00 annual license fee for all authorized capitals.

ANNUAL LICENSE DUE10% SURCHARGE50% SURCHARGESTRUCK-OFF FROM REGISTRY
Anniversary DateThree months after the Anniversary DateFrom the fourth up to the sixth month from the Anniversary DateSix months after the Anniversary Date
*Disclaimer
Information contained in this publication does not constitute any kind of advice on any particular matters and should not be considered as such.
OMC Group accepts no responsibility for clients’ decisions.   LR_CM_0521

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