Anguilla Offshore Company Formation

Anguilla is a Caribbean island and a British Dependent Territory; the majority of laws in Anguilla are based on British Common Law and English is the main business language used.

Anguilla offshore company formation is a growing business for the island and although the island has signed up to the 2005 EU Savings Tax Directive, it remains an important jurisdiction for those seeking privacy and zero taxation for their International Business Companies.

When structured correctly and carefully an Anguilla offshore company can afford the company’s owners personal privacy and it can reduce the taxation due on profits earned to zero.  In Anguilla there are no corporate taxes, income taxes, death duty, gift tax, capital gains tax or profit tax and therefore Anguilla offshore company formation has become a central business activity on the island as international individuals and companies seek to reduce their overall taxation burden.

In terms of the requirements an offshore company established in Anguilla must fulfil, an International Business Company is established according to the laws and rules of the International Business Companies Ordinance which was revised in 1994. 

This Ordinance states that an exempted IBC needs just one shareholder and shares can be issued in either bearer or registered form, furthermore it need only have a single director and corporate or individual directors are permitted.  Neither details of shareholders nor directors need appear on any public record but their details have to be kept at the IBC’s registered office which has to be in Anguilla. 

A further requirement that an offshore company formed in Anguilla must fulfil is that is has an Anguillan resident as its registered agent.  The majority of service providers who assist with Anguilla offshore company formations offer both a registered office and a registered agent as part of their domiciliary services.

In terms of reporting restrictions and accounting requirements there is further good news for those examining the benefits of incorporation in Anguilla, an international business company need not submit accounts or annual returns and needs only to pay an incorporation fee annually on the anniversary of the company’s formation.

Other types of company that can be established in Anguilla include corporations, limited liability corporations, companies limited by guarantee, general partnerships and limited partnerships although by far the most important offshore company vehicle is the international business company as detailed above.