Main Characteristics of a Company in Anguilla
General Background – Anguilla is an island belonging to the United Kingdom. Anguilla’s capital is The Valley, and the official language is English. The country covers an expanse of just 91 kilometers. Anguilla’s population stands at about 15,000 residents and the GDP is $175 million. The local currency is called the East Caribbean dollar which is fixed to the US dollar. The main income stems from fishing and tourism. To get to Anguilla, there are flights from New York, Miami and other cities within the USA. Investors who are company owners in Europe and Latin America take advantage of Anguilla’s economy and fly there directly. In contrast to other islands, communication standards are at a high level in Anguilla.
Tax – There is no company tax, personal tax or capital gains tax. Anguilla is known for its zero tax that is offered to companies and businesses and so attracts many foreign companies, businesses and entrepreneurs.
Confidentiality – There is a very high level of confidentiality in Anguilla and the country charges high fines for those who violate ones confidentiality.
The Name of the Company – Names must be in English but not a name that is similar or the same as a name that already exists. There is a ban on the use of names that indicate names of banks, finance, security, shipping, the British Royal family or any type of offensive name.
Shareholders – One shareholder may be nominated, private or a corporation, there is no obligation for the shareholder to be a resident of Anguilla.
Directors – There must be at least one director, private or a corporation, there is no obligation for local residency.
Financial Statements – There is no obligation to submit financial statements for Anguilla company.
Conditions for Registering a Company in Anguilla:
The system in Anguilla is flexible and makes it possible to incorporate a company there quickly and easily by filling out a basic form that consists of just two pages and the terms of the company. The Anguilla company must provide a local address but may register the company through a local lawyer’s office. In addition, one may nominate a citizen as a local representative. In order to register a company that is connected to the banking or business management insurance sectors, one must attain a special agreement and permit.
Assistance in company formation in Anguilla can be done through our corporate solutions with the option of opening a bank account in one of the international banks on the island. The bank account can be business or personal and is connected to the American dollar. Anguilla’s law is based on international law and therefore is an updated and modern system. The official language in Anguilla is English and therefore all documents need to be in English. An international company in Anguilla benefits from tax deductions just as a private citizen. An offshore company is limited with regards to doing business with Anguilla residents, in banking and trustee deals, insurance companies or management services.
Anguilla does not take direct tax like the IRS, company tax, capital gains tax, tax on gifts or inheritance tax. The annual maintenance fee for incorporating a regular company in Anguilla is $250 and the fee for incorporating an offshore company is $200.