Anguilla is an Overseas Territory of the United Kingdom situated on the north-eastern shoulder of the Caribbean’s Lesser Antilles chain and 5 miles north of the Island of St. Martin.
The Island is governed under a constitution that allows the local legislature a large amount of autonomy over internal affairs with executive power being vested in a governor, who is appointed by the Queen. While taking advice from London on international matters affecting the Territory, the governor is advised in the execution of his duties by an executive council made up of a chief minister, three other ministers, and two ex-officio members. Lastly, there is an elected House of Assembly with power to enact local laws. Anguilla is served by the Eastern Caribbean Supreme Court with the final court of appeal being the Privy Council in London.
The laws of Anguilla are based on common law principles derived from the United Kingdom.
Until recently, the Island’s principal economic mainstays have been commercial fishing and a tourist industry centred upon the abundant marine life, reefs and sandy beaches which are among the best in the Caribbean. In 1994, the Anguilla Government enacted the International Business Companies Ordinance hoping to participate in the enormous success that a similar piece of legislation had brought to the nearby British Virgin Islands. Since that time, a growing financial services industry known more for its quality than its volume has come into being and, today, it is possible to form a number of corporate entities on-line via the modern internet based incorporation facility that goes by the acronym ACORN. These entities include:
– The ordinary Limited Company;
– The International Business Corporation;
– The Limited Duration Liability Company;
– Hybrid Companies; and
– Limited Partnerships.
Additionally, Anguilla has a modern trust law which features the abolition of the rule against perpetuities, the provision of commercial and purpose trusts as well as charitable trusts and also allows the ability to accumulate income throughout the full term of the trust.
The official language of Anguilla is English and literacy is good. There is an adequate pool of local trust companies, law firms, accounting firms and banks, such that users of the financial services facilities offered can be comfortable that competition for their business exists.
The fully computerized on-line company registration facility constitutes a major advantage that Anguilla has over its competitors in the zero tax company formation field. With ACORN, Anguilla can proudly boast that confirmation of name availability and incorporation are possible from anywhere in the world at any time of the day or night