ACG Business & Management

General
Anguilla is located in the Caribbean Sea, a few kilometres from Saint-Martin. It is attached to the island of Sombrero, as well as to those islands which are, for the most part, inhabited: Scrub, Dog, etc.
Today, Anguilla is a British dependent territory with its own government and having adopted its own laws. Its attachment to Great Britain is a guarantee of stability. The economy is based on industrial fishing, ship building and agriculture.
A system of full professional secrecy is in force in Anguilla. The practise of "nominees" allows an additional degree of confidentiality to be achieved. The authorities require legal authorisation in order to be able to remove this secrecy, but they rarely use it. In effect, the banks are criminally responsible for the provenance of the deposits which they receive. They therefore do not encourage money laundering and are careful enough to "sift through" their customers.

Business Card

Total absence of taxes on individuals or companies
Trusts institution
Population 2004 : 11,797 inhabitants
Annual growth rate : 1.98 %
Surface area: 102 km²
Official language: English
Currency : East Caribbean Dollar
Main cities : The Valley
The legal system is based on British common law.

Banks
There are only a handful of local banks, but they are good quality.

Tax
There is no tax on revenues and Anguilla does not deduct a levy on an individual's property. In case of succession, a moderate tax of 3% is deducted on property which is owned in the territory by non-residents.
Companies benefit from an identical system. The miscellaneous status of the island’s companies offers a guarantee against any change in this situation.

Companies
An "Ordinary Company" (which can be used either offshore or "onshore") is a highly flexible legal form which is agreeable to those who do not appreciate complications. Its principle characteristics are as follows:

A minimum of one shareholder and one director.
The shareholders have limited liability.

As a specific form of ordinary company, the naturally wary will choose the "Private Company”, which is exempt from the presentation of its accounts. However, the down side to this is that it cannot have more than eleven shareholders, nor offer its shares to the public, nor publicise its activities!
The other form which is usually used is that of the "International Business Company" (IBC), which offers the advantage of complete secrecy with regard to the composition of its management and the list of its shareholders. This type of company may move its head office from one jurisdiction to another without any problem, as long as the jurisdiction recognises the IBC (International Business Companies).