ANGUILLA

Overview

Anguilla is one of fourteen British Overseas Territories which, while under the jurisdiction and sovereignty of the United Kingdom, are not a part of the UK. Queen Elizabeth II, the British monarch, is the head of state and the country has a common law legal system based on British law, although power over domestic affairs is determined by a locally elected House of Assembly, currently led by Chief Minister Hubert Hughes.

It is now the fifth most popular jurisdiction for Captive Insurance and is becoming increasingly attractive for foreign direct investment. Anguilla's official currency is the Eastern Caribbean dollar, though the US dollar is also commonly accepted. The Eastern Caribbean dollar has been pegged to the US dollar since 1976 at an exchange rate of US$1 = EC$2.70. Anguilla is truly a neutral tax jurisdiction (unlike many offshore financial services centers). There is no income, capital gains, estate, profit, or other forms of direct taxation on either individuals or corporations, whether resident in Anguilla or not.

 

Corporate Requirements

  • Company Name: must have an English name but the Chinese name is allowable but is bilingual.

  • The company name ending normally ends with Limited, Corporation, Incorporated or short-form Ltd., Inc., AVOID using the words such as Royal Family, the UK Government, a political party, a university, a professional association.

  • No minimum registered capital, standard registered capital at USD1,000,000 with a par value of USD1.00.

  • Has to appoint at least one director:

    • Can be individual or corporate.

    • Can appoint shareholder or somebody else.

    • Director has to be at least 18 years old.

  • At least one shareholder

  • There should be no limitation on the business nature, however, it is not allowed to carry any investment, trading, hold any property local. Besides, it is also not allowed to carry any trust, bank or insurance-related business and act as the registered agent which providing Anguilla registered address to other Anguilla company.

 

Company Characteristics

  • No requirement for an annual general meeting, and no need for submission of the annual financial reports and annual audit reports, maintain the company by paying the annual fee only.

  • No foreign currency exchange control, can open a bank account in HK/SG or anywhere in the world.

  • No public search solution for shareholder information.