ARTICLE
1 November 2000

Hong Kong Business Boosted By Anguillian Services

Anguilla Media, Telecoms, IT, Entertainment
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The leading on-line international company registration system (ACORN) Anguilla's Commercial Online Registration Network has been presented in Hong Kong.

A high-level delegation comprising the architects of Anguilla's financial services visited Hong Kong this week for a series of business briefings.

Anguilla's Minister for Finance, Economic Development, Investment and Commerce, The Hon Victor Banks who lead the delegation, says Hong Kong is a very important jurisdiction to Anguilla. However, Anguilla's well-regulated financial services are, in the main, a secret within Hong Kong's mainstream business community.

"We went to Hong Kong to change the way practitioners incorporate international business companies. ACORN is the modern way in which companies are formed enabling practitioners instantaneous and real-time on-line capability to register international business companies. The traditional process is time-consuming and prevents practitioners from getting on with the job of running the actual business," said Mr Banks.

According to Banks it is thought that some 30 per cent of the world's international business company registrations are generated from Hong Kong. "We suggest ACORN is the key to ensuring the continued growth in the sector is done hassle free and efficiently."

Hong Kong-based ICS Trust (Asia) Limited has been providing ACORN services to the Far East since March 1999. Ms Elizabeth Thomson, President of ICS Trust said:

"Hong Kong does business at the speed of light and with ACORN we incorporate at the same pace. No other jurisdiction can match ACORN in terms of speed and efficiency. It is at the cutting edge in terms of e-commerce and enables us to service our clients in the way they expect from ICS Trust."

Ms Thomson added that because ACORN is the responsibility of the jurisdiction's regulatory authority users are assured of a sound, well-regulated product.

John Lawrence, Director of Financial Services, Government of Anguilla said:

"Anguilla is a fairly new provider of international financial services which has given us the added advantage of ensuring that its growth has been developed in a solid legislative and regulatory environment. It has been designed to meet worldwide standards and actually enhances Anguilla's regulatory practices because company formation is overseen by my department."

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