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Anguilla Offshore Company Formation

The tax haven of Anguilla is situated in the Caribbean and is a well established offshore financial center. Anguilla as a tax haven allows for the formation of Anguilla Limited Liability Companies (LLCs), Anguilla offshore companies, offshore trusts and offshore foundations. Other offshore service available in the offshore tax haven of Anguilla is offshore banking. The offshore tax haven of Anguilla beginning in 1992 passed a number of legislation which would aid the offshore tax haven to become one of the best offshore jurisdictions in the Caribbean.

Offshore corporation formation in Anguilla can be easily arranged. For offshore formation in the tax haven the services of a registered agent must be used. A registered agent is a person who is authorized by the government or the financial services commission to provide offshore services in a jurisdiction. According to the stipulations of offshore legislation in Anguilla Company it is mandatory that everyone who is interested in incorporating and offshore Limited Liability Company, International Business Company, offshore foundation or offshore trust company must employ an authorized and registered agent to work on their behalf.

To form an Anguilla International business company (IBC) commonly known as an offshore corporation a Memorandum of Association and an Articles of Association must be prepared. These documents are then filed with the Registrar of companies. Persons who choose to incorporate online can use Anguilla’s online company registration known as ACORN. Anguilla offshore companies formation is regulated by the Anguilla International Business Companies Act which was introduced in the jurisdiction in 2000. The Memorandum of Association for an offshore corporation in Anguilla must contain the following information:

  • The name of the proposed offshore corporation
  • The name and address of the registered agent
  • The registered address of the company in Anguilla
  • The classes of shares to be issued and the maximum number of shares from each class
  • The currency in which the company shares will be issued
  • The rights, limitation, privileges and powers of each type of share issued
  • The type of business that the company can carry out
  • The by- laws of the company

If the Registrar of Companies is satisfied with the documents a certificate of incorporation will be issued to the corporation. An Anguilla offshore company can be formed using just one shareholder and one director. The shareholder and directors of Anguilla offshore companies must be over the age of eighteen (18) and can be of any nationality. Offshore company formation in the tax haven of Anguilla has many benefits. Offshore corporations in Anguilla are only taxed on local earnings. The global earnings of Anguilla offshore companies are not subjected to income tax and corporate tax. Offshore companies formed in Anguilla pay no capital gains tax, estate tax, withholding tax, gift tax or inheritance tax.

When realizing offshore company registration in Anguilla clients must bear in mind that company names must denote liability by using one of the following words or its abbreviation: Limited, Incorporated, Sociedad Anonima, Corporation among others. Anguilla offshore companies are prohibited to conduct business with or on behalf of resident of the jurisdiction but can employ the services of professional such as accountants, lawyers and financial advisors.

An Anguilla Limited Liability Company is another type of offshore company which can be formed in the jurisdiction. The Anguilla LLC is very popular among offshore investors. The offshore formation of Anguilla LLC is governed according to the Anguilla Limited Liability Act of 2000. Like the Anguilla IBC and LLC must be registered using a registered agent. When forming an offshore Limited Liability Company in Anguilla a complete Articles of Formation must be handed to the Registrar of Companies who will in turn issue a Certificate of Formation if he or she is pleased with the document submitted. The Articles of Formation for an offshore LLC in Anguilla should have the following content:

  • The name of the Limited Liability Company
  • The name and address of the registered agent
  • The registered address of the company
  • The date by which the company will be dissolved
  • Details that the members of the LLC regard as important

The members of an Anguilla LLC may enter into an agreement which will determine the nature of business to be conducted by the company and other important laws with regards as to how the classes of members and the rights and limitations of these members. The document must be signed by all involved. In an Anguilla Limited liability company the members’ liability will be based on the extent of the contribution made to the company.

Offshore limited Liability companies formed in the tax haven of Anguilla pay no income tax, corporate tax, capital gains tax, estate tax, gift tax or withholding tax. Such offshore companies registered in Anguilla benefit for an exemption on Stamp Duty for transactions carried out on behalf of the corporation.

Anguilla most recently (2008) passed its foundation Act to increase its competiveness in the offshore world. An Anguilla foundation can be formed to protect assets and for estate planning. People who have the need to secure the wealth for the future of the heirs can find protection in the formation of an offshore foundation in Anguilla. An offshore foundation formed in Anguilla has characteristics of a hybrid company with features of a trust and corporations. An Anguilla offshore trust once registered with the Registrar of Companies is a legal entity and can sue, buy property, sell property and be sued.

The offshore foundation formation involves submitting complete articles of formation with the details which follow:

  • The name of the foundation
  • The name and address of the foundation’s registered agent
  • The names and addresses of the foundation council members
  • The name and address of the secretary
  • The purpose for which the foundation is formed
  • The designation of the beneficiaries to the foundations
  • The names and addresses of the foundation’s beneficiaries
  • The by- laws of the foundation

For offshore foundation formation in Anguilla the foundation’s name must end with the word Foundation or the abbreviation Fdn and the equivalent in a foreign language may also be used. A Foundation cannot be formed with a name which has already been used for registration. The foundation council for an Anguilla foundation can be a corporation or natural persons who are above the age of eighteen (18). The foundation council has the responsibility of managing the assets in the foundation, distribute the income in a foundation, and conduct legal business on behalf of the foundation.

An Anguilla offshore foundation will be exempted from local taxation in the offshore jurisdiction if its beneficiaries are not citizens of Anguilla, if the persons who contribute the assets are not residents of Anguilla, if the property which forms part of the Anguilla foundation is not Anguilla lands or property. Capital gains tax, withholding tax, inheritance tax, estate tax will not be applied to assets in the foundation which are gained outside of the jurisdiction. In addition an offshore foundation formed in Anguilla will pay no Stamp Duty on transactions which as the transfer of property.

Offshore company formation in the offshore tax haven of Anguilla has many benefits. The main one being tax savings. Anguilla offshore company formation is not very costly and the benefits quickly overweigh the cost of offshore formation. Asset protection and privacy are two very important features of offshore company formation in the tax haven of Anguilla.