ANGUILLA COMPANY FORMATION AND MANAGEMENT

Caribbean Management Services Ltd. (CMS) as an Overseas Agent facilitates a comprehensive range of services related to the formation of companies by the use of ACORN (Anguilla Commercial Online Registration Network) and subsequently with Caribbean Management Services Ltd. (CMS) vast professional administrative expertise can provide its qualified administrative management services for any Anguilla domiciled offshore and or onshore Companies.

Within Caribbean Management Services Ltd. (CMS) Overseas Network we combine the individual needs of our clients with various solutions accessible within our international fiduciary and corporate management services for the company's International Private Clients and International Corporations.

Caribbean Management Services Ltd. (CMS) also facilitates the provision for legal advice, accountants and any other necessary corporate advice of which encompasses various jurisdictions.

WHAT IS ACORN?

The Anguilla Commercial Online Registration Network (ACORN) is a state of the art companies registration system developed in Anguilla with assistance from Companies House UK and the UK Government. Using the latest technology, ACORN enables instant and secure electronic incorporation and registration of Anguilla companies:

ACORN allows companies to be incorporated instantly from anywhere in the world 24-hours a day, 365 days a year. ACORN also enables all other corporate registration activities permitted under the relevant legislation to be undertaken online. Effectively it has done away with paper. Users can file anything from Articles of Incorporation in a variety of languages to paying annual fees and the system will provide guidance on the legal pitfalls that inevitably go hand-in-hand when completing any registries statutory documents.

Incorporations are effected immediately, with ACORN providing a copy of the company's Certificate of Incorporation instantly online. Hard copies of all Certificates generated are also provided through the local licensed company manager. The system even enables users to call up online reports, detailing transactions already undertaken and the costs and dates of those transactions. This system is technology at its very best.

TYPES OF ANGUILLA COMPANIES

International Business Company (“IBC”)

Filing Articles of Incorporation incorporates an IBC. The by-laws are not required to be publicly filed. An IBC generally has the power to undertake any lawful business or activity in or outside Anguilla, but is prohibited from carrying on business with persons resident in Anguilla, owning real property in Anguilla or carrying on banking, insurance, company management or trust business.

An IBC may have a single director and a single shareholder, both of whom may be corporate and non-resident. Nominee shareholders may be used. It is not mandatory to file director and shareholder details publicly. Copies of the share register, the articles, the by-laws and any amendments must be kept at the IBC's registered office. Annual returns or financial statements need not be filed.

Foreign companies may be re-domiciled to Anguilla as IBC’s even if the foreign law does not recognize such continuation. An IBC may re-domicile to a foreign jurisdiction if the laws of the foreign jurisdiction permit.

An IBC may issue registered and/or bearer shares, which may be issued with or without par value and in one or more foreign currencies. An IBC may purchase and own its own shares and may reduce its authorized and paid-in capital. Charges over property may be created and registered with the Registrar of Companies. An IBC may be voluntarily wound up by a resolution of the directors and shareholders. An IBC is exempt from taxation.