Anguilla Business Company (“ABC”)

Anguilla zero tax regimes enables ABC’s to be used either as a domestic company for business within Anguilla or as offshore vehicles. ABC’s used, as offshore vehicles are exempt from most record-keeping and accounting requirements. An ABC may have a single director and shareholder. ABC’s may be limited by shares (which must be without nominal or par value and cannot be bearer shares), by guarantee or by both, thus making hybrid companies possible.
The doctrine of ultra vires has been abolished. Generally, an ABC has all of the rights, powers and privileges of an individual.
Unless licensed to do so, it may not carry on banking, trust, insurance or company management business.

Filing articles of incorporation form ABC’s. By-laws need not be publicly filed. ABC’s must file an annual return containing shareholder and director details.
A private ABC is exempt under the Companies Act from, amongst other requirements, being audited, but it must maintain at its registered office a copy of its consolidated financial statements and prepare and maintain at its registered office minutes of meetings of directors and resolutions of directors and committees. An annual shareholders meeting is required for all ABC’s.

ABC’s are exempt from taxation, except that ABC’s owning land in Anguilla are subject to stamp duty on the transfer of shares.

Limited Liability Company (“LLC”)

The Limited Liability Company Act (LLC Act) is quite similar to the corresponding Delaware statute. The term of an Anguilla LLC may be perpetual or specific.
An LLC may be structured to provide their members with both limited liability and rights and liabilities to income and for losses.
The LLC Act also clearly creates an economic interest, which can be transferred separately from the membership interest.

In return for their contributions, members own an assignable LLC Interest. On dissolution, members receive distributions of assets from the LLC, if solvent, although interim distributions can be made before dissolution.

Filing articles of formation forms an LLC. The LLC must also have an LLC Agreement, which need not be publicly filed. An LLC may have a single member and is managed by the members or by one or more managers. It can carry on any business not prohibited by law in Anguilla, but cannot carry on banking, insurance, trust or company management business unless licensed to do so. The LLC is exempt from taxation.

A foreign LLC may re-domicile to Anguilla and an Anguillian LLC may, subject to its LLC agreement and the LLC Act, re-domicile outside Anguilla.

Anguilla Financial Services Comparison of Offshore Jurisdictions

http://www.anguillafsc.com/compare.pdf

Contact our offices for a consultation:

Caribbean Management Services Ltd. (CMS)
Managing Director
Post Office Box 950, The Valley
Anguilla, British West Indies
Phone: +1 264-498-5858
Fax:     +1 264-497-5504
E-mail: mgrdir@cmservicesltd.com
           mgrdir@yahoo.com
Website www.cmservicesltd.com