Panocean Secretarial Group

Panocean Secretarial Group

Anguilla

Anguilla is the most northerly of the Leeward Islands and is located in the north-eastern Caribbean, approximately 950 miles south east of Miami, Florida.  There is an estimated population of 12,000 inhabitants and a land area of 91 square kilometres.

TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT

International Business Company (IBC).

PROCEDURE TO INCORPORATE

Registered Agent delivers the Memorandum of Association and Articles of Association to the Registry together with the appropriate fee.  The incorporation will usually take one to two working days.

LAWS AND REGULATIONS

The Island is an Overseas Territory of the United Kingdom with a legal system based upon English common law with local modifications.  The Island 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 defence and foreign affairs of Anguilla.  The major laws and regulations include:

  • The International Business Company Act;
  • The Trust Companies and Offshore Banking Act;
  • Money Laundering and Terrorist Financing Regulation;
  • Anguilla Foundation Act; and
  • Mutual Funds Act.

POWERS OF COMPANY

A Company incorporated in Anguilla has the same powers as a natural person.

LANGUAGE OF LEGISLATION AND CORPORATE DOCUMENTS

English.

NAME RESTRICTIONS

The name of an IBC must indicate that the company is Limited.  A company name can be verified by direct computer link with the Registry and confirmed within several hours of being requested.

LANGUAGE OF NAME

An Anguilla IBC can be incorporated using any language.  Chinese company name is allowed and will show on the Certificate of Incorporation and Memorandum & Articles of Association.

REGISTERED OFFICE REQUIRED

Yes, must be maintained in Anguilla at the address of a licensed management company.

NAMES REQUIRING CONSENT OR LICENCE

The following words cannot be used either in English or any other language: assurance, bank, building society, commonwealth, co-operative society, fidelity, friendly society, fund, guarantee, indemnity, insurance, re-insurance, trust, trustee, underwriter, royal, imperial, empire, municipal and chartered or any derivatives of any of these words without the written consent of the relevant department of the local government.

AUTHORISED SHARE CAPITAL

The authorized capital of an international business company may be stated 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.

CLASSES OF SHARES PERMITTED

Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights are permitted.  Allow Nominee shareholder(s).

BEARER SHARES PERMITTED

Yes.(However, Bearer Shares are immobilized.)

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES

No.  Disclosure of the beneficial owner(s) is not required; share register may be inspected only by a shareholder.

FILING REQUIREMENTS

Only the Memorandum and Articles are required for public records.  The registration and deregistration of Registers of Directors, Members, and Mortgages and Charges are optional.

TAXATION

Anguilla is a tax neutral country and there are NIL taxes on Anguilla companies, which include estate, capital gains, corporate and income tax.  Anguilla does not distinguish between local and offshore companies.  All companies registered in Anguilla have the benefits of Anguilla’s zero-tax situation.

DOUBLE TAXATION AGREEMENTS

Anguilla has no foreign exchange controls or double tax treaties.

LEGAL PROTECTION OF ASSETS

Assets are protected from confiscation or expropriation orders or similar actions by foreign governments.

FINANCIAL STATEMENT REQUIREMENTS

Whilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records that reflect the financial position of a company.  No filing of annual return is required.

MEETINGS

No annual meeting is required.  Any and all meetings may be held outside of Anguilla and may be by telephone or other electronic means.

DIRECTORS

The minimum number of directors is one.  Directors may be natural persons or bodies corporate.  They can be of any nationality and need not be Anguilla resident.

COMPANY SECRETARY

A company secretary is not a requirement under the Act, but at the option of the Company, a secretary may be appointed to facilitate signing obligations.

SHAREHOLDERS

The minimum number of shareholders is one. Shareholders may be natural persons or bodies corporate and of any nationality.

CAPITAL

No minimum capital is required.  Shares may be issued with or without par value and in any currency as permitted by the Memorandum of Association and Articles of Association.

OUR SERVICES

We have some stock of “Ready-made” companies that are immediately available for purchase and are pleased also to incorporate a company with client’s proposed name.  All companies are provided with our comprehensive company kit, include the following:

*    Certificate of Incorporation

*    Subscriber Appointment of First Director(s)

*    1 Statutory Book

*    Original & copies of Memorandum & Articles of Association

*    A Corporate Seal

*    A Pre-ink Stamp

*    Share Certificates

FEES

Panocean Secretarial Group will be happy to provide you with a schedule of our current fees for the company set up and provision of company secretary/correspondence address/nominee services upon request.

These are only the general guidelines and they do not constitute any legal liability for inaccurate information mentioned above.

Panocean Secretarial Services Limited  ©2004 Copyright.  All rights reserved. It is not allowed to reproduce, transmit or re-keying the above information.