Features of British Anguilla’s international Business Companies (B.A. IBCs)
- The British Anguilla’a (B.A) International Business Companies’ Act 2000, and the International Business Companies Regulations 2000 as amended.
- IBCs may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose.
- Full exemption from taxation for any business activity or transaction carried out outside British Anguilla (B.A.).
- 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.
- 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.
- 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.
- 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.)|
|Government:||British Overseas Territory. These are territories which are under the sovereignty of theUnited Kingdom, but not considered part of the United Kingdom itself.|
|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.|