At the moment the three most popular companies registered in the offshore jurisdiction of Anguilla are International Business Companies (IBC), Limited Liability Company (LLC) and Anguilla Ordinary or Local Business Company (ABC). To incorporate an International Business Company and an Anguilla Business Company the relevant persons have to submit a complete Articles of Incorporation. The Limited Liability Company has to submit a completed Articles of Formation.

The Ordinary Company and the International Business Company have directors who oversee the administration of the company’s affair whilst the Limited Liability Company has managers. International Business Companies and Ordinary Companies can both have one director. Both of these Anguilla companies can be registered by a single individual. The director and shareholder of an International Business Company can be the same person. In the case of a public company which is a type of Ordinary Company, there must be three directors of which two must not be officers or employees of the company or its associates. But, the manager of an Anguilla offshore Limited Liability Company or LLC can also be a member of the company.

International Business Companies and Ordinary Companies in Anguilla issue shares therefore the company is owned by the shareholders. Limited Liability Companies do not issue shares however contributions called interests are made. The owners of such companies are called members. The International Business Companies and the Ordinary Companies in Anguilla can issue different types and classes of shares. The International Business Companies can issue bearer whilst the Ordinary Company is not allowed by the Companies Act to issue bearer shares and bearer certificates.

Under the Companies Act, Ordinary Anguilla Companies are obligated to keep an Annual General Meeting (AGM) at least every fifteen (15) months. Shareholders have to be informed of this meeting between thirty (30) and seven (7) days before the meeting takes places. The venue for the annual general meeting is determined by the shareholders and has to be stated in the by- laws of the company. International Business Companies and Limited Liability Companies on the other hand are not bound by law to hold an annual general meeting. These Anguilla offshore companies can hold meetings for shareholders (IBC) and members (LLC) in any part of the world or at any time convenient to the stakeholders. In fact the meetings can take place by telephone or any medium of modern technology available.

All companies registered in tax haven Anguilla are exempted from all forms of income tax, corporate tax and withholding tax. These Anguilla companies pay no taxes on profits, dividends or interest accumulated by the Anguilla company. The companies registered in Anguilla are not obligated to keep final records or statements. The records can be kept at the company’s office for inspection by its stakeholders. A company’s financial statements and records can only be viewed with the necessary permission of company’s directors and managers. Anguilla offshore companies and clients are protected by the Confidentiality Ordinance Act. Under this Act, professional individuals or corporate bodies cannot divulge information or threaten to divulge information concerning clients or their business to persons who ought not to be in possession of such information. The laws of Anguilla regard this as an offence and apply stiff penalties which include fine and imprisonment. Only persons above the age of eighteen (18) can incorporate companies in Anguilla.

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