The Anguilla International Business Company first came into being after the Anguilla Business Companies Ordinance was passed in 1994. Amendments to this act was made over the years and in 2000 when further amendments were made the Act became known as the Anguilla International Companies (IBC) Act of 2000. The Anguilla IBC Act stands as a piece of legislation which governs the registration of offshore companies and makes provisions for pertinent matters such as the type of shares which can be issued by Anguilla offshore companies. Anguilla is a small island in the Eastern Caribbean with an estimated population of 12,500 people and a judiciary system which is based on that of Great Britain and.

An Anguilla International Business Company is any business or corporation registered under the Anguilla IBC Act of 2000 which does no business with or on behalf of local residents. In other words, any company can be registered as an offshore company if its profits, gains and capital are generated outside of Anguilla. According to the International Business Companies Act one (1) or more persons can register an International Business Corporation by filing the appropriate documents with the Registrar. In order to register a company an individual must be eighteen (18) years or older and of sound mind. Any person who has an unsound mind as reported by a tribunal in or outside of Anguilla is unable to register an International Business Company. Individuals who are bankrupt cannot incorporate an offshore company in Anguilla.

An International Business Company in Anguilla cannot hold property or interest in property in Anguilla unless that property is used for an office space from which the company makes contact with its shareholders and to keep financial records. For an Anguilla offshore company, according to the legislation of 2000, it is only possible to carry out business for which a licensed is granted. To further explain, Anguilla offshore companies cannot offer services which concern businesses such as acting as an insurance agent, a broker, a reinsurance company or company management provider as indicated by the Management Act. This also includes carrying on banking or providing banking services as stipulated by the Banking Act. However, Anguilla IBC’s are allowed to make deposits or borrow money from any bank in Anguilla which is licensed under the 2000 Offshore Banking Act and can maintain contact with professionals such as solicitors, barristers and accountants in Anguilla.

In order to incorporate an Anguilla International Business Company the services of an offshore services provider or agent must be solicited. All Anguilla IBC’s are registered through licensed and registered agents. To incorporate an Anguilla Offshore company a complete Articles of Incorporation must be submitted with the following information; the name and address of the company, the classes of shares, the number of shares, the name and address of the registered agent and if there are different classes of shares the restrictions and privileges attached to the class of shares. If the Registrar is satisfied with the Articles a Certificate of Incorporation is issued to the IBC.

The names of IBC must not be similar to any existing company or partnership in Anguilla so as not to cause confusion or mislead people. The names of International Business Companies according to the act should not suggest connections to the Royal Family or Queen of Great Britain, or any political parties or leaders of political parties. The names of companies should not show any links with universities recognized by the laws of Anguilla unless written permission is granted by the institute.

Shares in an Anguilla offshore company registered in Anguilla can be issued for cash, services rendered, property or any debt obligation. Shares can have different rights attached to them for example, voting at meetings and rights to obtain equal shares in distribution of dividends. The shares issued in an Anguillan IBC may have different categories for example a company can issue the following types of shares: shares with or without par value, limited shares, and preference shares among others.

International Business Companies in accordance with the IBC Act of 2000 are exempted from all forms of taxation. As a tax haven, IBCS in Anguilla pay no corporate, withholding, capital gains or income tax. IBC’s in Anguilla are also exempted from tax duties transaction which deals with transfer of property and shares.

The Anguilla registry is fully computerized which maximizes the time in which a company is incorporated.