Company Formation Survey 2008


	Home ANGUILLA ANTIGUA ARUBA BAHAMAS BARBADOS BELIZE BERMUDA BRITISH VIRGIN ISLANDS BRUNEI CAYMAN ISLANDS COOK ISLANDS CYPRUS ENGLAND & WALES GIBRALTAR GUERNSEY HONG KONG HUNGARY IRELAND ISLE OF MAN JERSEY LABUAN LIBERIA LUXEMBOURG MADEIRA MALTA MARSHALL ISLANDS MAURITIUS NEVIS PANAMA ST. KITTS ST. LUCIA ST. VINCENT AND THE GRENADINES SAMOA SÃO TOMÉ E PRÍNCIPE SEYCHELLES SINGAPORE SWEDEN SWITZERLAND TURKS & CAICOS VANUATU


		1. Company law	International Business Companies Act, 2000; Companies Act, 2000; Limited Liability Companies Act, 2000; Limited Partnership Act, 2000. Protected Cell Companies Act 2003; Foundations Act 2008 – pending.
		2. Types of company: (a) type of company preferred for international transactions:	International Business Companies; Anguillian private and public companies, incorporated under the Companies Act, allowing companies to operate both onshore and offshore; Limited Liability Companies (LLCs) and Limited Partnerships (LPs).
		(b) shareless companies:	Under the Companies Act, companies limited by guarantee and companies limited by both shares and guarantee (hybrid companies) can be formed.
		3. Capital requirements:	There are no minimum or maximum capital requirements.
		4. Costs to incorporate, excluding government fees:	The fees applied by local Company Managers to incorporate companies can range from USD50 upwards.
		5. Fees paid to authorities to incorporate:	Government fees are as follows: Local Company (COC) USD279.60 (Offshore) USD55 (Onshore) International Business Company (IBC) USD250 Limited Liability Company (LLC) USD250 Limited Partnership (LP) USD250 (Fees quoted are for electronic incorporations)
		6. Annual fees paid to authorities:	Government fees are as follows: Local Company (COC) USD279 International Business Company (IBC) USD200 Limited Liability Company (LLC) USD250 Limited Partnership USD250 (Fees quoted are for electronic filings)
		7. Taxation rates applied to companies generally:	Anguilla is a zero tax jurisdiction and levies no corporate tax on either local or offshore companies.
		(a) the taxation of companies in 2 (a)	See above.
		8. Method of incorporation:	Ordinary companies, International Business Companies and Limited Liability Companies can be incorporated instantly online through the ACORN system by any of the authorised agents listed at www.axafsc.com. It is now possible to register Chinese name companies electronically. Additionally, provision has been made for online searches for Company status and name availability to be carried out by lending institutions, free of cost.
		9. Who may incorporate - specify what, if any, local representatives/ professionals required?	Minimum of one Director required for Anguilla Ordinary Company or IBC, who need not be local. All companies must have a registered office and registered agent in Anguilla.
		(a) are ready made companies available?	Ready made/shelf companies are available. Though with the ACORN system, this is hardly required.
		10. Length of time to incorporate:	Instant on-line incorporation (3 mins). Furthermore, incorporation can be handled 24 hours a day, 365 days a year. Manual incorporations are dealt with within 30 minutes during working hours.
		11. Minimum members:	Minimum of one Director is required for all companies – need not be local. There are no disclosure requirements for an International Business Company.
		12. Registered office:	Registered office required in Anguilla.
		(a) Can the registered office be a bank/ lawyer/ accountant's office (brass plate)?	The registered office can be anywhere in Anguilla. The registered Agent must hold the relevant licence.
		13. Directors and secretary: (a) Must a director/ secretary be resident?	A minimum of one Director. Company secretary not mandatory. Directors and secretary need not be resident.
		(b) Are Corporate Directors allowed?	Yes.
		14. Appointee directors/ secretary possible?	Appointee directors and secretary possible.
		15. Amount of fees payable to appointee directors/ secretary:	Fees for management vary with the nature and complexity of the directorships. Fees for corporate secretary USD100-400.
		16. Meetings:	Annual meeting need not be held in Anguilla. Meetings can be held by telephone.
		17. Annual return:	An annual return, listing shareholders and directors, who may be nominees, must be filed by Anguillian Ordinary Companies. No such return is required for IBCs or LLCs, which pay an annual fee only.
		(a) Must financial statements of a company be audited?	Financial statements are not required to be filed other than for public companies whose financial statements must be audited.
		18. Is disclosure of profits required by filing balance sheets with annual returns?	No disclosure of profits is required other than for public companies.
		19. Are there any exchange control or other financial restraints imposed upon a company?	Anguilla has no exchange controls and profits can be easily repatriated in any currency.
		20. Companies formed in the last year:	2,600.
		21. Number of companies on the company register altogether:	12,000.
S I T E M A P BACK TO TOP		22. How, if any, is migration into and out of the jurisdiction achieved?	Redomiciliation as an Anguilla company, IBC or LLC is possible by filing articles of continuance or an application to transfer domicile on the prescribed forms. All statutory documents relating to migration can be filed electronically. IBCs can continue into Anguilla free of cost (advance payment of USD100 that is refunded with the first annual fee payment).
		23. Is migration out of your country provided for?	Yes, migration out of Anguilla is also provided for.
		24. Any amendments to company law over the last 12 months:	Yes. The IBC Act was amended to allow the use of bearer shares.
		25. Anticipated amendments to company law over the next 12 months:	No.