Anguilla, or "British Anguilla" is an attractive
jurisdiction to North America's private equity market; but what
other corporate options does it offer, and how is it different from
s legal system. It was one of numerous offshore jurisdictions in
the 1980s to base its company legislation on the BVI's flagship
act – the International Business Companies Act, which is the
statutory predecessor of the BVI Business Companies Act.
Anguillan law is a relatively unique blend of throwback 1980s
and forward thinking structures – Anguilla LLCs have been
around since 2000 and have found a niche market in the North
American private equity field.
Types of corporate entities
Unlike the majority of the offshore industry, Anguilla has not
repealed its IBC legislation. Most Anguillan companies are
International Business Companies (IBCs)
incorporated under the Anguillan International Business Companies
Act. There are numerous other organizational structures: in
addition to LLCs (formed under the Limited Liability Company Act),
Anguilla also has the Companies Act Companies
(CACs) (formed under the Companies Act),
general partnerships, limited partnerships, protected cell
companies (which can only be CACs and are similar to the BVI's
segregated portfolio companies), and trusts foundations.
How is Anguilla similar to the BVI?
Based on UK common law with recourse to the UK courts (the
Low cost, tax neutral and lightly regulated jurisdiction
Corporate flexibility: IBCs are permitted to undertake any
lawful act or activity and there are no corporate benefit
Public registration of charges priority is determined by date
How is Anguilla different to the BVI?
Constitutional documents for IBCs and CACs are based on the US
model (articles of incorporation and by-laws)
Corporate insolvency is determined under common law rules and
personal bankruptcy statute and there is no corporate insolvency
act (at the time of writing the draft legislation had not been
The requirements for the valid execution of deeds have not yet
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