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Anguilla Corporations:
[International Business Companies] [Anguilla Business
Companies] [Characteristics] [Registration requirements]
[Restricted words]
Through associates here in Panama, I am able to offer also companies from
Anguilla. Companies in Anguilla are registered through ACORN (Anguilla's
Commercial Online Registration Network), which provides private access to the
Anguilla's company registry so that they can incorporate companies online,
24-hours a day. This ensures a timely response to your incorporation
requests.
It is possible to incorporate in Anguilla both IBC's and ABC's -
International Business Companies
and Anguilla Business Companies.
We will provide a short description of these entities below and the differences
between them.
Under the new law, it is no longer necessary to file lengthy memoranda and
articles of association. In the case of an international business company, the
articles of incorporation need only contain the company's and incorporators'
names, the registered office and agent, and essential details as to the nature,
but not the ownership, of the company's shares.
Because of its ease of formation and limited reporting requirements, the
International Business Company (IBC) is often used when it is not intended to
carry on business in Anguilla, the company's only business being international.
Such a company may have one or more directors, who may be any person or persons
recognised under Anguilla law, including a company, trust or partnership; it may
purchase or redeem its shares and meetings may be held anywhere, by telephone or
other electronic means.
Furthermore, treasury and bearer shares are permitted and there are no financial
audit or statement requirements. Share register inspection is restricted to
registered shareholders and domicile can easily be transferred to and from
Anguilla.
An international business company may be used in conjunction with other
entities, such as a trust or various forms of partnership. It can be migrated in
or out of Anguilla.
The
International Business Companies Act is available in *.pdf format on the
Financial Services Commission of Anguilla website.
An ABC is permitted to transact business both internationally and within
Anguilla. Because Anguilla is a tax-free jurisdiction, however, it enjoys an
advantage over its competitors in many other offshore jurisdictions, where
freedom from local taxation is generally dependent on using an International
Business Company. Thus an ABC is no less tax efficient than an IBC and can be
used instead of an IBC if the slightly more onerous reporting requirements are
not considered a deterrent.
The Anguilla Business Company (ABC) is exempt from many filing and reporting
requirements of a public company and may also be designed to function with a
trust created under the Trusts Act. It has the flexibility to be adapted as a
special purpose company for a wide variety of applications. Like an IBC,
it can be migrated in or out of Anguilla.
The
Anguilla Companies Act is avaialble in *.pdf format on the Financial
Services Commission of Anguilla website.
ACORN Companies Online:
- ACORN allows licensed agents to incorporate and file documents 24 hours a
day, through a secure digital encrypted access to the system.
- Corporate documents are filed in electronic form.
- Electronic documents are admissible as evidence in court proceedings and
electronic documents filed with or issued by the Companies Registry can be
authenticated.
- Nevertheless, the authorised agents must maintain the usual high standard
of due diligence.
Anguilla companies have the following characteristics:
 |
Share register: Every IBC is required to keep one or
more Registers of Shares and shareholders, and at least one copy thereof must
be kept at the Registered Office of the company (in Anguilla). |
|
Books, records and common seal: Every IBC shall have
a common seal and an imprint of this seal must be kept at the Registered
Office of the Company. Seals must be used if the company enters into a
contract which, if entered between natural persons would be required by law to
be in writing and under seal. An IBC shall keep such accounts and records as
the directors consider necessary or desirable in order to reflect the
financial position of the company. |
|
Annual License fee: If the authorized capital does
not exceed US$50,000.00 an annual license fee of US$200.00 must be paid to the
government, on or before every anniversary date of incorporation of the
company. If the company fails to pay the annual fee within the period
above mentioned, a penalty of an amount equal to 10% of the annual fee must be
paid, in addition to the annual license fee. And, if the company fails to pay
the annual fee and the penalty due, it shall upon the expiration of three
months from the anniversary date, be liable to pay in addition to the annual
fee, a penalty of an amount equal to 50% of the annual fee. |
|
Officers and agents: The directors may, by a
resolution of directors, appoint any person, including a person who is a
director, to be an officer or agent of the company. |
|
Power of attorney: An IBC may grant general or
special powers of attorney in order for natural or legal persons to act on its
behalf to execute contracts, agreements, deeds and other. |
| Continuation: Continuation to and from Anguilla is permitted under
the ordinance. A company incorporated under the laws of a jurisdiction outside
Anguilla is entitled to continue as an international business company
notwithstanding any provision to the contrary in the laws of the jurisdiction
under which it is incorporated. |
In order to register a corporation in Anguilla, either:
- One or more persons may incorporate the IBC by signing and sending the
Articles of Incorporation to the Registrar, or
- An IBC may be formed through electronic means by using the ACORN System.
When setting up the Company, please note that the following applies:
|
Name: An Anguilla Corporation, must have either
"Limited", "Corporation", "Incorporated", "Society Anonyme", "Sociedad Anonima",
"Besioten Vennootshcap", "Gelleschafmit beschrankter Haftung", "Naamloze
Vennootshcap" or the abbreviation "Ltd.", "Corp", "Inc.", "S.A.", "B.V.",
"GmbH", or "NV" as part of the name. |
|
Capital: There is no minimum authorized capital for
IBC's. When formed through the Acorn System, the government registration fee
is US$250.00 regardless of its authorized capital. Shares may be issued as
registered shares or in bearer form. |
|
Registered Office / Registered Agent: Every IBC
shall at all times have a Registered Office and a Registered Agent in Anguilla
- this is established in the Articles of Incorporation. |
|
Director: The company need only have one
director, which may be a natural person or corporation. The first
director is appointed by the incorporators of the company. Thereafter,
the director(s) are elected by the shareholders or directors for such term as
the shareholders or directors determine. |
The following words require special authorisation (or
licensing) before they can be used in a company name:
|
Assurance, Assurance Broker, Assurer, Authority |
|
Banc, Banca, Bancaria, Bancaire, Bancario, Banco, Bancomer,
Bancorp, Bancos, Bangko, Bank, Banka, Bankas, Bankasi, Banke, Banken, Banker,
Bankhaus, Banki, Bankiers, Banking, Bankin’ny, Bankirsky, Bankos, Bankverein,
Banky, Banque, Banquier, Banquiers, Betting, British, Building Society |
|
Chamber of Commerce, Charity, Charitable, Co-operative, Co-op,
Credit, Creditbank, Credit Union, Creditanstalt, Credito |
|
Discontobank |
|
European |
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Friendly Society, Fiduciary, Foundation, Fund |
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Gaming, Gennossenschaftsbank, Girobank, Girozentrale,
Government, Great Britain |
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Handelsbank, Hypothekenbank |
|
Indemnity, Insurance, Insurance Broker, Insurer, Iraq, Iraqi |
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Kantonalbank, King, Kontrolbank, Kretit, Kredietbank |
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Landesbank, Libya, Libyan, Lottery, Lotto |
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Majesty, Mutual |
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Nationalbank |
|
Pankki, Patent, Patent Office, Police, Post Office, Prince,
Princess, Privatbank |
|
Queen |
|
Raiffeisenbank, Re-assurance, Re-assurance Broker, Re-assurer,
Red Cross, Re-insurance, Re-insurance Broker, Re-insurer, Royal, Royale,
Royalty |
|
Sparbank, Stock Exchange |
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Trade Union, Trust |
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Underwriter |
|
Vereinsbank, Volksbank |
|
Windsor |
For more information regarding incorporation of Anguilla
companies (IBCs or ABCs) please
contact me.
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Last
modified
26-Sep-2007 17:37 -0400
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