Company in Anguilla
Anguilla is a small country which is located in the Caribbean Sea and belongs to the dependent territories of Great Britain but has internal independence. Anguilla, in addition to be a beautiful island, is also an offshore jurisdiction which doesn’t have double taxation conventions. This country has high position in international rankings, thanks to the rapidly growing economy and government policy, which is positively focused on investments from every corner of the world. That is why open business in Anguilla is profitable.
Company formation in Anguilla
In Anguilla, IBC (International Business Company) is a characteristic legal form of doing business. IBC is a representative company and has the same rights and benefits as a natural person. The opening of the company must take place under a unique name, which must end with a word indicating that it is a company or use abbreviations such as “Corp.” or “Société Anonyme” and “S.A.”. Another characteristic feature of IBC is that establishing a company requires a minimum one of shareholder and a director and secretary of the company, and the same person (company) can at the same time function as a shareholder, director and secretary. Companies founded on Anguilla can have bank accounts anywhere in the world. The Management Board isn’t obliged to organize annual general meetings. However, if he decides to do so, he can organize meetings anywhere in the world.
Company registration in Anguilla
Company registration takes 1 to 2 business days. In addition, the company’s registration documents don’t include the names and identities of its shareholders, secretaries or directors. This information is stored at the registered office and isn’t published. The names of the directors aren’t registered in the register and are known only to the registered agent.
Open company in Anguilla form a distance
Company registration in Anguilla can be done at a distance. To register a company, copies of the relevant documents must be submitted in the commercial register of Anguilla’s companies. The law defines English as the official language of documents. In addition, IBC from Anguilla must have a locally registered agent and local office.
Taxes in Anguilla
For local companies operating only abroad, Anguilla is completely tax neutral jurisdiction because the local government don’t impose any tax on the income of such companies. There is no direct taxation in the form of income tax or capital gains tax. In addition, Anguilla is also not a party to international agreements on the exchange of information on tax and fiscal matters, which allows it to remain completely anonymous when trustees and nominal structures are used. The advantage of local legislation is the absence of any obligations regarding transaction recording, accounting and financial reporting. Starting a business here is associated with the obligation to pay a fixed fee once a year to confirm offshore status.
Free zones in Anguilla
In the case of Anguilla, it is difficult to talk about free economic zones, because opening a business in this country gives a wide opportunity for tax optimization for entrepreneurs. The tax system of this country is a great convenience for entrepreneurs who decide to open a company. As already mentioned, local companies which run business activities abroad aren’t subject to income tax and turnover tax. The company may engage in any activities that are lawful. However, IBC is exempt from corporate tax and capital gains tax as long as it doesn’t deal with Anguilla residents or the owner of Anguilla property.
Ready made company in Anguilla
It is also possible to buy a company on Anguilla that is already registered. As a rule, the ready company in Anguilla exists relatively short, didn’t run business before and was created for its subsequent sale. However, due to the legal regime regarding the establishment of companies and the time of its registration, the purchase of a company on Anguilla isn’t profitable, and thus rarely used.