International Corporations: Angilla

Angilla

Anguila, an island in the eastern Caribbean Sea, a British overseas territory. It is the most northerly of the Leeward Islands in the Lesser Antilles and lies about 12 miles (19 km) north of the island of Saint Martin and 60 miles (100 km) northwest of Saint Kitts. The Valley is the principal town and the administrative center of the island. Noted for its easy-going atmosphere and magnificent beaches and waters, Anguilla is a popular tourist destination. Area 35 square miles (91 square km). Pop. (2020 est.) 15003.

The day-to-day life of Anguilla’s people is similar to that of North Americans. Presumably, this is a consequence of the island’s close proximity to the United States (and its Caribbean territories) and of the heavy dependence of the Anguillan economy on U.S. tourists. The impact of the United States’s cultural influence is reinforced by the prevalence of American music, television, and other media. Computer use is relatively widespread in businesses, schools, and homes. A significant number of people are computer literate and have access to Internet services. Cellular phones are popular among the young and middle-aged.

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Company Incorporation
Main Characteristics of the international bussiness (IBO

Anguilla boasts the world’s first fully electronic registry system, the Commercial Online Registration Network (ACORN). This state-of-the-art company’s system enables instant and secure electronic incorporations and registrations giving the island a competitive edge as company formation can be done 24 hours a day, 7/7
Anguilla is an offshore incorporation center and tax neutral jurisdiction that enjoys a high reputation and stability as a British Overseas Territory.
As other British Overseas Territories, Anguilla has a well-regulated corporate and financial services industry. However, unlike other offshore centers, Anguilla has avoided excessive attention by international regulatory agencies.

Angilla Corporations Overview

Company typeInternational Business Company (Company limited by shares)
Governing corporate legislationInternational Business Companies Act, 2014 
ShareholdersInternational Business companies may be formed by one or more shareholders, who can be either natural or legal persons, residents or non-residents. Details of shareholders are not publicly disclosed.
DirectorsAt least one director is required, who may be a natural person or a legal entity, resident or non-resident. Directors’ details are not available to the public.
Information published relating to company officersDetails of shareholders are not publicly disclosed.
Directors’ details are not available to the public.
LiabilityThe liability of the shareholders is limited up to the amount of the shares they hold.
Accounting requirement/ complianceNo accounting / reporting requirements. N.B. Section 65 (1) and (2) of the IBC Act 2000 (Amended) require all companies to maintain records permitting to document a company’s transactions and financial situation. Business Companies may be required to keep accounting records and underlying documentation for a period of 5 years, but its location can be freely determined. There is no requirement to file financial statements, nor annual return.
Corporate income taxAnguilla does not levy corporate income tax on both resident and non-resident companies. There are no taxes on capital gains and investment income. All dividends, compensations, rents and royalties are also exempted from taxation. No withholding tax is levied on dividend, interest and royalty payments to non-residents.
Standard currencyUSD
Shared capital/paid upThe authorized share capital is usually US$ 50,000, and it may be in any currency. There is no statutory requirement for capital to be fully or partly paid on incorporation
Basis of the Legal SystemUnder Common Law.
SecretaryThe appointment of a secretary is not required.
SharesShares may be bearer shares, registered shares, with or without par value, voting or non-voting, preferential or common, and may be issued in any currency. Bearer shares need to be held by a custodian.
Registered address An IBC must have a registered address in Anguilla, provided by a licensed registered agent.
General meetingAnnual general meetings are not mandatory, can be held anywhere, and may be conducted by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy.
Electronic SignaturePermitted 
Time to formAnguilla has a fast and efficient Registry: it takes only 2-3 days to register a company.
Renewal dateAnniversary date of the company / Each Year
Time ZoneConvenient world time zone: GMT-4
ConfidentialityAnguilla offers a high level of anonymity and privacy.

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