Features of British Anguilla’s international Business Companies (B.A. IBCs)

GOVERNING LAW

• The British Anguilla’a (B.A) International Business Companies’ Act 2000, and the International Business Companies Regulations 2000 as amended.

 

BUSINESS TRANSACTIONS

• IBCs may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose.

 

TAXATION

• Full exemption from taxation for any business activity or transaction carried out outside British Anguilla (B.A.).

 

 SHARES CAPITAL

• Nominative/registered or redeemable shares at owner’s option.
• No paid-in capital is required.
• No minimum or maximum capital requirements.
• Bearer shares are allowed, but subject to custodian services.

 

DIRECTORS/ OFFICERS AND SHAREHOLDERS

• Shareholders, directors and/ or officers can be either corporate entities or natural persons.
• Registration at the companies registry of the initial directors and/or officers or of any ongoing changes there of

is optional.

• The directors may grant special or general powers of attorney.
• Companies are allowed to have a sole director.
• Neither the directors nor the officers need to be shareholders.
• Shareholders, directors and officers may be of any nationality and may be residents of any country.
• Shareholders and directors may hold their meetings in any country and may attend such meetings by proxy or by phone.

 

ANNUAL FILING

• No requirement to file annual returns or financial statements, no requirement to hold annual general meetings of shareholders or directors.

 

INCORPORATION AND ADMINISTRATION

• Excellent availability of company names for incorporation.
• The incorporation documents such as the articles of incorporation By-Laws are familiar.
• The word “Limited”, “Corporation”, “Incorporated”, or “Sociedad Anónima” or the abbreviations “Ltd.” “Inc.” or “S.A.”may be used as a company’s name ending.

• Incorporation documents may be drafted in Spanish or any language and submitted together with an English translation.
• Speedy incorporation procedure and simple ongoing administration.

• The British Anguilla’s (B.A.) Companies  Registry is equipped with modern sophisticated software (ACORN) improving speed and efficiency in the processing of documents in a timely manner.

• Shelf companies available, however the ACORN system makes them hardly necessary.
• Registration of mortgages and charges available.

 

RECORD KEEPING

• The company’s accounting books, records and minutes may be kept in any place or country chosen by the director

• Annual accounts are neither required nor be filed.

 

 

REGISTERED OFFICE, CORPORATE SEAL AND LEGALIZATION

• Registered Office in British Anguilla (B.A.) is required.
• Corporate seal is mandatory.
• The apostille is normally used to legalize documentation.

 

COSTS AND FEES

• Reasonable formation and maintenance costs and fees.

 

CONTINUATION

• Foreign companies can be speedily continued to British Anguilla (B.A.).

 

USES OF BRITISH ANGUILLA’S INTERNATIONAL BUSINESS COMPANIES (B.A. IBCs)  

• Holder of bank accounts, fixed deposits, investments plans and any other financial or commercial title.
• Owner of the shares of other companies or legal entities.
• Owner of apartments, houses, buildings, vessels and any other movable or immovable property or goods.

• Manager and promoter of international business transactions.
• International leasing of vehicles, machinery, vessels and others.
• Borrowing or lending money, paying or receiving commissions’ royalties or other.
• Marketing and promotion of products and services.
• Other commercial and financial activities.

 

• HIGHLIGHTS OF BRITISH ANGUILLA
• Excellent corporation law.
• Flexible company law.
• No taxes levied on international and banking transactions.
• No exchange control regulations.
• Political and economic stability.
• Excellence hotel accommodations
• Excellent worldwide communication facilities.
• Skilled personnel.
• No capital gains, income or other kinds of taxes.

 

 

DOCUMENTS REQUIRED TO BE KEPT AT (BRITISH ANGUILLA) REGISTERED OFFICE, IN ACCORDANCE WITH THE LAW

 

The following information/documents are required to be kept at the registered office. Same will not be able filed at the British Anguilla Registry.

 

• Appropriate character references and other due diligence documents, as required.
• Copy of the consent to Act letter signed by every person that would be appointed as director.
• Complete and updated copy of the share register shall be kept at the Registered Office of the company or at the office of
• The registered agent, containing the information of the name(s) and address (es) of the shareholders.

• Complete and updated copy of the Register of Directors and Officers is recommended to be kept at the registered Office of the company.

• Adoption of corporate seal is mandatory. An impression of same must be kept at the registered office of the company.

SOCIAL AND ECONOMIC INDICATORS

Location:	Caribbean (160 Kilometers east of Puerto Rico).
Area:	106 square kilometers divided in over 20 islands many of which are not permanentlyinhabited, the largest being British Anguilla (B.A.) where the capital known as thevalley is located.
Population:	14,436 ( 2009 Est.)
Climate:	Tropical
Official Language:	English
Government:	British Overseas Territory. These are territories which are under the sovereignty of theUnited Kingdom, but not considered part of the United Kingdom itself.
Living Standard:	High
Banking:	Worldwide banking facilities available
Legal Tender:	British Anguilla’s (B.A.) currency is the East Caribbean dollar, though the US dollar isalso widely accepted
Industries:	Tourism and Financial services.