Offshore Company Formation – Anguilla

Anguilla is a self-governing British territory in the Caribbean Sea and a well-known offshore center. Its principal corporate acts, the IBC Act of 2000 and the Companies Act of 2000 as amended, are based on English common law. There are several types of companies in Anguilla: the Ordinary Company, the Limited Liability Company and the International Business Company (most suitable for offshore business although all types are exempted from taxes).

Basic Information and Calculation of Expenses

Anguilla offers fully exemption from taxes and simple registration procedure to its investors and business entities. Moreover, it has an online registration system which makes registration, any amendments or liquidation process even easier.

The expenses for company formation and maintenance depend on a number of services needed and intensity of business activity. The formation package starts from 850 USD any may be up to 4 000 USD for the additional services like nominee directors, brokerage account or regular receptionist.

Nominee services for shareholders and directors separately are 350 USD per year. The Government fee is just 200 USD.

Opening a bank account depends on a country and ranges from 350 USD in Cyprus or New Zealand to 1 700 USD in Singapore.

An Apostille together with notarization cost approximately 150 USD.

The restrictions for an international company are standard: prohibition on carrying out business with the residents and owing a real property (except for sea vessels). A special license is obligatory for banking and insurance business. It should be noted that a certain restrictions are connected with the name of a company, i.e. such words as “bank”, “republic”, and “government” are not used.

A registered office is necessary. The service together with the registered agent is provided upon registration.

Setup Procedure

The registration procedure is very easy and flexible: a company is entitled to choose just one director and one shareholder of any nationality which can be individuals or legal entities, no minimum authorized capital is required, the secretary is optional, and the legislation provides for a variety of shares’ forms in any currency. The incorporation consists of the following steps:

  • Choosing a corporate name for a new company. Ready-made companies are available upon request.
  • Selecting directors, shareholders, secretary, share capital, class and types of shares.
  • Preparation of the Articles of Association and payment of fees.
  • Filing the Articles of Association with the Registry; its notary certification and Apostille upon client’s request.
  • Delivery of the documents to the client by courier.

Taxation in Anguilla

Under the effective laws IBCs in Anguilla are exempted from any taxes. There are no double tax treaties with other countries. Companies are not required to exchange any financial or corporate information with the Government or tax authorities.

Accounting

IB companies registered in Anguilla do not appoint an auditor or file financial statements to the authorities. On the other hand, companies maintain their books and records and keep corporate documents at the registered office. Companies’ financial data and register are not revealed to the public.

Advantages of Anguilla Offshores

  • Anguilla IBCs are fully exempted from taxes.
  • The legal system is based on stable common law.
  • No currency or tax control.
  • Absence of foreign exchange restrictions.
  • Nominee services for privacy and confidentiality.
  • Shareholders’ and directors’ meetings are not required.
  • Absence of audit.
  • Company’s books and records are not available to the public.
  • Simple registration procedure and maintenance.