Anguilla is the most northerly of the Leeward Islands in the Eastern Caribbean, lying roughly equidistant from the British Virgin Islands and Antigua. The capital of Anguilla is The Valley, located towards the western end of the island.
GOVERNMENT
Anguilla is a British Overseas Territory, having been under continuous British rule since 1650. The island has a similar constitutional status to Bermuda, the Cayman Islands and the British Virgin Islands. Its Government consists of a British appointed Governor, who is the representative of Her Majesty the Queen, and a constitutionally elected House of Assembly.
LEGAL SYSTEM
Anguillian law is based on the British legal system and English common law, supplemented by legislation promulgated by the House of Assembly. The court system forms part of the Eastern Caribbean Supreme Court with final appeal to the Privy Council in the United Kingdom.
ANGUILLA AS AN OFFSHORE CENTRE
Anguilla is a truly zero tax jurisdiction having no income, capital gains, estate or other forms of direct taxation on either individuals or corporations. The official currency of Anguilla is the Eastern Caribbean (EC) Dollar which is pegged to the US Dollar and controlled by the Eastern Caribbean Central Bank. The EC Dollar is exceptionally stable, its rate against the US Dollar having remained virtually unchanged in the last fifteen years. The US Dollar is also acceptable island-wide. There are no exchange controls in Anguilla.
Anguilla is a politically stable, relatively uncrowded financial services jurisdiction and offshore corporate domicile. The island is equipped with an excellent electronic communications network and has recently enacted a comprehensive and innovative package of financial services legislation enabling it to now offer the flexibility of:
- a modern International Business Companies Ordinance;
- a Limited Partnership Ordinance;
- a Limited Liability Companies Ordinance; and
- a Companies Ordinance
backed up by one of the newest and most innovative computerized company registration services in the world.
Anguilla's Commercial On-line Registration Network system, (ACORN) is an on-line electronic Companies Registry system which went live on 16 November 1998 allowing licensed Company Managers and Trust Companies in Anguilla to electronically incorporate International Business Companies.
The phased implementation of ACORN will go on to cover:
- Extension of ACORN to eligible overseas agents, who will have direct electronic access to Anguilla's Companies Registry allowing them to incorporate International Business Companies from anywhere in the world;
- Electronic incorporation of Ordinary Companies and all Registry activities relating to the Companies Ordinance; and
- The electronic incorporation of Limited Liabilities Companies and Limited Partnerships and all Registry activities relating to the same.
Anguilla is, and is set to remain, an innovative and high quality financial services centre.
If you would like further information on Anguilla, the various corporate vehicles available or details of how Harney Westwood & Riegels can help you with your incorporation requirements, please contact J Alex Richardson or Fiona Bada in Anguilla.
Harney Westwood & Riegels also provide information and advice on the British Virgin Islands. To view this information Click Here
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information please contact us.
