Anguilla Corporate Features and Registration Costs
GENERAL INFORMATION
Anguilla, the most northerly of the Caribbean Leeward Islands, has a landmass of 90 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 freshwater 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.
POPULATION
Anguilla supports a population estimated at 9,000. 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.
POLITICAL STRUCTURE
In 1969, Anguilla succeeded from Associated Statehood with St. Kitts and Nevis, opting for direct British rule, which was officially granted in 1982. 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 defense and foreign affairs. Elections are held at least once in every five years; electoral representation is parliamentary (as opposed to presidential).
INFRASTRUCTURE 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.
OFFICIAL LANGUAGE OF ANGUILLA
The official and spoken language is English.
CURRENCY
Eastern Caribbean (EU) dollar.
EXCHANGE 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.
TYPE 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.
PRINCIPAL CORPORATE LEGISLATION
International Business Companies Ordinance 1994.
COMPANY INFORMATION
Type of Company for International Trade and Investment
International Business Company (IBC).
Procedure 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.
Restrictions 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.
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 and Corporate Documents
The legislation and language of corporate documents is English.
Registered Office Required
Yes, must be maintained in Anguilla at the address of a licensed management company or law firm.
Time to Incorporate
Registration could be completed in one day.
Name 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.
Language of Name
On line incorporation allows for names in virtually any language or alphabet, including Chinese characters.
Name Requiring Consent or a License
Any name implying a relationship with the banking or insurance or company management industries- e.g. bank, financial, trust and insurance.
Suffixs 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 Authorities
No.
COMPLIANCE:
Authorized and Issued Share 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.
Classes of Shares Permitted
Par value shares, no par value shares and bearer shares,
Bearer Shares Permitted
Yes.
Taxation
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.
Double Taxation Agreements
Anguilla is not party to any double tax treaties.
Financial 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.
Directors
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.
Company Secretary
Not required, but normally appointed.
Shareholders
The minimum number of shareholders is one.The shareholders may be natural persons or corporate bodies. They may be of any nationality and need not be resident in Anguilla.
ANGUILLA COMPANY REGISTRATION AND MAINTENANCE FEES
Registration Fee
Our registration fee together with the current year maintenance fee for a company with a share capital no more than US$50,000 is US$800 excluding delivery fee. In particular, the fee covers:
- current year license fee
- current year registered agent fee
- current year registered office fee
- one company kit
- our incorporation service charges.
Documents to be provided by client for incorporation
- Photocopy of passport of each of the shareholder and director
- Residential address with proof, such as utility bills, telephone bills
- Proposed name of the company
- Amount of share capital (unless otherwise advised, all company will be incorporated with a standard share capital of USD50,000) and percentage of shareholding by each shareholder, if more than one shareholder
Time Frame
The whole incorporation process could be finished in 2 weeks.
Maintenance Fee
Annual maintenance cost for company with a share capital of no more than USD50,000 for second year onward is US$600 which covers annual license fee, annual registered agent and annual registered office fees.
Other Services (Optional)
Certificate of Good Standing: USD185
Certificate of Incumbency: USD165