Anguilla is one of the five remaining British Dependent Territories in the Caribbean and as such it enjoys a high degree of political stability. All political parties are strongly committed to the growth of Anguilla as a quality financial services center.
Although the country is essentially self governing, its legislature being the democratically elected House of Assembly, the Constitution gives the British appointed Governor certain fundamental reserve powers. All legislation must be assented to by the Governor as the Queen's representative.
Anguilla is a common law jurisdiction. Its judicial system is administered by the Eastern Caribbean Supreme Court, the appeal process culminating with the Privy Council. The Court system is serviced by a number of firms of fully qualified and experienced lawyers.
Banking services are provided by Barclays Bank and Bank of Nova Scotia, as well as by the National Bank of Anguilla and the Caribbean Commercial Bank which are both indigenous banks. The professional infrastructure is well developed, with major accounting firms represented on the island. The telecommunications system is state of the art, providing direct access worldwide.
On January 1, 1995 a comprehensive package of new financial services legislation came into force in Anguilla. The package comprised:
- The International Business Companies Ordinance
- The Limited Liability Companies Ordinance
- The Limited Partnership Ordinance
- The Trusts Ordinance
- The Partnership Ordinance
- The Fraudulent Dispositions Ordinance
- The Companies Ordinance
- The Company Management Ordinance
With the enactment of this legislation, Anguilla became a serious player in the international financial services arena.
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