Why Anguilla

Anguilla is a British Overseas Territory located in the Caribbean east of Puerto Rico and the British Virgin Islands and north of the French territory of St. Martin. It has an English common law legal system with a resident High Court judge and Magistrate, itinerant Eastern Caribbean Court of Appeal with the Privy Council in London as its appellate court. The jurisdiction entered the financial services sector in 1994 when it enacted a package of legislation providing for the domiciliation of international business companies, domestic companies, limited liability companies, limited partnerships, trusts and offshore banks. Since then, it has added mutual funds, protected cell companies and captive and domestic insurance legislation. The jurisdiction is well served by a professional infrastructure of law firms, accountants and company and trust service providers. Telecommunication services are state of the art and airline links through St. Martin and Puerto Rico allow for ease of access. The island’s new airport runway allows for direct flights on private jets from anywhere in the world including the new Boeing 737 Business Jet.

Why GCSL Anguilla

GCSL, through its three licensed entities in Anguilla, offers trust services, company formation, corporate directors, nominee shareholders, company secretarial, bank account opening and a wide range of administration and consultancy services. In addition, it establishes and manages captive insurance companies, sets up mutual funds and provides consulting services to entrepreneurs in the Caribbean interested in pursuing business activities in Greater China.

Several features of its legislation make Anguilla an attractive jurisdiction. These include:

		Anguilla is truly a ZERO tax jurisdiction and both domestic and international business companies are exempt from corporate tax, tax on dividends and capital gains and other forms of direct taxes. Residents also do not pay income tax, estate tax or death tax. Issues of ring-fencing are therefore not pertinent and Anguilla has not entered into any tax agreements with other countries for the collection of taxes. Trusts settled under Anguilla law are also tax exempt.
		The ACORN system allows for the incorporation of companies online in less than 5 minutes from anywhere in the world, 24 hours a day, 7 days a week and 365 days a year. Access is given to licensed service providers and their overseas agents, who are also approved by the jurisdiction’s regulatory body, the Financial Services Commission (FSC). Once the incorporation process is completed, a digital certificate of incorporation is produced which can be used to open bank accounts.
		Name availability is greater and because of the ACORN system, all filings can be done online electronically. Companies may be formed in several distinct languages including Chinese and Russian with discrete characters. Further improvements are under way including providing for bulk incorporations.
		The Anguilla trust is attractive for asset-protection and its enabling legislation specifically disallows the enforcement of foreign judgments, the recognition of foreign law and abolishes, amongst other principles, the rules against accumulations, perpetuities, double possibilities and purpose trusts. Its limited liability company is also attractive for this purpose and is widely used in fund structures.
		The Anguilla mutual funds legislation allows for a flexible regime which recognizes private and professional funds and registers public funds. Private funds are ideally suited for use by brokerage firms who wish to create a product for their in-house clients. There is no minimum subscription and the Act allows for up to 99 investors. Professional investors may use the professional fund to invest a minimum of US$100,000 with as many other investors as they agree to have.
		The FSC has created a fast-track procedure for the domiciliation of funds allowing them to be formed and launched in 24 hours with post-dated regulatory oversight. Only service providers who have been granted a specially designated status as qualified intermediaries may avail themselves of this facility.
		Both local government and the regulatory authorities are keen on improving Anguilla’s legislation and GCSL professionals work closely with these officials and members of the private sector to enhance the jurisdiction’s profile while providing a client-focused service.
		As a member of The GCSL Group of Companies, GCSL Anguilla is ideally positioned to provide clients with a truly global network of services in a cost-effective, efficient and professional manner.

Click for the Guide to Anguilla Companies, Trusts and Mutual Funds

For further information please contact our Anguilla office at anguilla@gcsl.info

We are here to CONSULT and SERVE YOU.