Tax Haven Anguilla

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Tax haven Anguilla has over the years made great strides in developing its financial services sector. One of the main achievements of tax haven Anguilla is the establishment if its company online registration system known as ACORN (Anguilla Companies Online Registration Network) which has enabled the island to optimize the level and quality of its financial services.

Country Overview

Anguilla tax haven is a Caribbean island found in the Leeward Islands and can be described as a collection of cays, namely Anguillita, Sombrero, Dog Island, Prickly Pear Cays, Seal Island, Scrub Island and Sandy Island. Anguilla’s population comprises of a mixture of people of European and African descent. The language spoken is English.

Tax haven Anguilla was first settled by native Amerindians about 4000 years ago and in 1493 was sighted by Christopher Columbus. On the eastern end of Anguilla many artifacts were excavated by archeologists, giving first hand proof of the settlement of the island’s natives many years ago. The Amerindian name for Anguilla is ‘Malliouhana’. In the 1830’s, Anguilla was joined with St. Kitts and Nevis in a federation recommended by the British. This union was not accepted by the Anguillan people who felt that their interests were not sufficiently represented in the House of Assemble due to the fact that Anguilla was able to have only one representative in the tri-island legislature. Following this, in 1958, Anguilla became a member of the Federation of the West Indies. In 1962, Anguillans took to the streets and boldly protested against the tri-state union of St. Kitts, Nevis, Anguilla, demanding independence from the union. Anguilla Day was celebrated on May 30, 1967 in remembrance of the island’s protest. All three islands - St. Kitts, Nevis and Anguilla were given separate constitutions and made associated states under the British. In 1980, tax haven Anguilla was given the status of a Dependent British Territory.

Today, Anguilla tax haven has developed into a prime destination for real estate and luxury tourism as a result of positive government policy on foreign ownership of property, a peaceful society, political stability and beautiful landscape laced with white sand beaches. As a British Overseas Territory with a high degree of autonomy, Anguilla tax haven is considered to be credible for doing business and large scale investments. The legal system is based on English Common Law and the Queen of England is represented by a governor; currently William Alistair Harrison. The Chief Minister is Hubert B. Hughes, who is head of government.

Anguilla tax haven is an associated member of the Organisation of Eastern Caribbean States (OECS), comprising English speaking islands of the Windward chain. The Eastern Caribbean dollar (XCD) is a common currency shared by Anguilla and other OECS member countries. The Eastern Caribbean dollar is administered by the Eastern Caribbean Central Bank (ECCB) - the regulatory body for banks and other financial institutions within the region. As a result, despite tax haven Anguilla’s political status as a British Territory, Anguilla has close ties with the rest of the Caribbean region.

Anguilla Fiscal Incentives and Advantages

Tax haven Anguilla offers quite an array of fiscal incentives, some of which are listed below:

  • No estate, gift, succession, transfer tax
  • No withholding tax on dividends or interests
  • Propulsive business environment
  • No income tax
  • No corporate tax
  • No capital gains tax
  • Convenient time zone
  • Well trained experts and professionals
  • Advanced infrastructure

Anguilla Offshore Legislative Framework

Accompanying Anguilla offshore companies and entities is an offshore legislative framework which ensures that offshore activities are undertaken in conformity with international norms and rules.

  • Protected Cell Companies Act 2004
  • International Business Companies Act
  • Mutual Funds Act
  • Trust Companies and Offshore banking Act
  • Anguilla Foundation 2008

Anguilla Offshore Financial Services

As a tax haven, Anguilla, offers a variety of corporate forms which are being widely used due to their numerous advantages in trade, increasing profits, tax planning, managing assets and reducing taxes. Offshore companies registered in Anguilla are called ABCs, which is an acronym used for referring to Anguilla Business Companies.

Offshore services that can be accessed in tax haven Anguilla include:

  • Formation services for setting up International Trusts
  • Formation services for setting up Offshore Foundations
  • Formation services for setting up Limited Liability Companies or LLCs
  • Offshore Banking
  • Formation services for setting up Anguilla Business Companies (equivalent to International Business Company)
  • Mutual Funds Services
  • Offshore Insurance
  • Formation services for setting up Protected Cell Companies (PCC)
  • Company Management

Anguilla Financial Services Commission (FSC)

The Financial Services Commission in Anguilla was established in order to provide a supervisory mechanism for offshore and international business entities. The Commission was introduced through the Financial Services Commission Act which was passed in November 2003. The main objective of the Commission is to ensure that Anguilla’s offshore services are adequately regulated and comply with international standards.

Some of the FSC’s functions include taking the necessary steps that would help protect and further develop financial services, supervising financial licensees, ensuring that legislations are implemented and followed through by the various stakeholders, keeping in contact with authorities and ensuring that all necessary information is relayed.

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