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Registration of a company (an offshore company) in Anguilla

Anguilla is one of those British territories that are not subject to increased scrutiny from international regulatory bodies, making it a favorable environment for offshore business activity.

Current pandemic trends are influencing the tax laws of many countries towards higher tax rates, making hot the topic of incorporating a legal entity in a favorable offshore zone such as Anguilla.

There are no stringent requirements for foreign investors under local law, making the registration of an offshore company in Anguilla a simple and fast procedure that takes around 2-5 days. Anguilla is also an advantageous offshore jurisdiction in terms of the absence of taxation on income, dividends, and capital gains of foreign entities, as well as the absence of taxation on international transactions.

Advantages of registering offshore in Anguilla

The jurisdiction’s cooperation with international regulators to improve the transparency of company tax returns is currently in the planning stages, so the current environment for conducting offshore business in Anguilla is favorable.

At the same time, by 2023 the jurisdiction of Anguilla will have introduced a publicly accessible registry of ultimate beneficial ownership of companies, the information in which will be public, which will have a significant impact on the privacy of non-resident company owners.

At the moment, there are the following main benefits of registering an offshore entity in Anguilla:

  1. 1. No direct and direct taxes on income and real estate, capital gains, and profits from individuals and companies, irrespective of their residence in the jurisdiction.
  2. 2. One person with residence in any jurisdiction and of any nationality may act as director and shareholder.
  3. 3. There is no mandatory requirement to appoint a secretary, as in many other jurisdictions.
  4. 4. Comparatively low start-up costs for a business.
  5. 5. The most popular form of offshore incorporation, International Business Companies (IBC), involves only international business activities and does not require the involvement of residents of the jurisdiction in the transactions.
  6. 6. Low amount of company share capital (minimum of $50,000) and no requirement to contribute a compulsory part thereof.
  7. 7. Banking institutions in Anguilla serve offshore companies without any restrictions or additional requirements.
  8. 8. Offshore companies do not have to be subject to mandatory audits, nor do they have to file annual financial statements. At the same time, there is a requirement to keep accounting records, as well as to retain the accounting records within the jurisdiction, and to submit them on request to the local regulatory authority.
  9. 9. Confidentiality of ultimate beneficial owners, which will be valid until at least 2023.

Anguilla as an offshore jurisdiction

Anyone seeking an answer to the question of where to incorporate an offshore company should consider Anguilla and its laws as one of the best jurisdictions.

It should be noted that in addition to an IBC, a foreign offshore company may be registered in the form of a trust or a company limited by shares (LLC). Certain areas of business are subject to the requirements of an economic presence in Anguilla. These include banking or insurance, shipping, distribution, and service centers, holdings, fund management, as well as financial services, leasing and intangible asset management (intellectual property).

The share capital of a legal entity can be determined in any currency, and in the vast majority of cases, it is USD 50,000. It should also be noted that, at the moment, confidential information on the ultimate beneficial owners of companies is not public and is not subject to disclosure.

In Anguilla, the companies are required to have a registered office in the jurisdiction. However, local regulators do not require that shareholder meetings be held in Anguilla and such meetings can be held in any other jurisdiction or online.

It should also be noted that 4 years ago Anguilla adopted the rules set by international regulators regarding the exchange of tax data within the AEOI.

The attractiveness of Anguilla as a favorable offshore zone compared to other jurisdictions is also due to the lack of government measures for low-tax jurisdictions to apply the Double Tax Treaty. States such as Malta, the Netherlands, Cyprus, and Luxembourg have increased their dividend tax to 15%, unlike Anguilla.

Corporate taxation in Anguilla

For foreign companies, the tax laws in Anguilla provide for virtually no levies. The following relatively low mandatory rates apply in Anguilla:

  1. 1. Property tax at 0.75% of the annual land value, which is assessed by the local regulator.
  2. 2. Transfer tax on immovable property of 5%. It is paid by the company when transferring the ownership to a third party.
  3. 3. Stamp duty between 0.01% and 5%. This tax is payable to the state on the conclusion of any bilateral or multilateral treaty.
  4. 4. Mandatory stamp duty of up to 12.5% of the value of the property purchased by foreign nationals after the pre-approval of the land license application.

It should also be noted that Anguilla has the zero tax on individual housing construction land (IHC) as well as on land with no buildings or utilities.

Foreign investors prefer to do business with Anguilla companies because of the following tax incentives:

  • No tax on royalties, dividends, and capital gains;
  • No Controlled Foreign Companies rules in the jurisdiction;
  • Full tax exemption for offshore companies;
  • Zero tax rate for companies on personal income tax, corporate tax, and value-added tax, as well as on dividends received and sent;
  • No thin capitalization rules;
  • Zero tax rate for individuals on their property and inherited immovable property;
  • The allowed nominal service.

For advice on acquiring a company (offshore) in Anguilla, please fill in the feedback form on the website or write to veritaslaw2009@gmail.com.

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