BRITISH ANGUILLA (B.A.)
INTERNATIONAL BUSINESS CORPORATIONS (IBC)
 

SOCIAL AND ECONOMIC INDICATORS

» LOCATION

Caribbean Sea (approximately 160 kilometers to the East of Puerto Rico).

» SURFACE AREA

102 square kilometers divided among 20 islands, many of which are not permanently inhabited. The biggest one is British Anguilla (B.A.), where the capital The Valley is located.

RELEVANT ELEMENTS OF THE COUNTRYS

» Excellent corporations law

» Flexible corporations law.

» There are no taxes on international or banking

transactions

» There are no foreign currency control regulations

» Political and economic stability

» Excellent hotel accommodations

» Excellent international communication systems

» Qualified personnel

» There are no taxes on capital gains or income, or other

type of taxes

APPLICABLE LAW

The Law of International Business Corporations of British Anguilla (B.A.), 2000 and the International Business Corporations Regulations, 2000, and its amendments.

COMMERCIAL TRANSACTIONS

The IBC can engage in any licit business in any country, and carry out transactions in any preferred currency.

DIRECTORS/DIGNITARIES, AND SHAREHOLDERS

» Shareholders, directors, and/or dignitaries can be natural

or juridical persons

» Corporation Registry is optional for the initial directors

and/or dignitaries or for subsequent changes of same

» Directors can grant general or special powers of attorney

» Companies are allowed to have a sole director

» Directors or dignitaries need not be shareholders

» Shareholders, directors, and dignitaries can be of any

nationality and be residents of any country

» Shareholders and/or directors meetings can be held in any

country and they can participate in them via a power of attorney or telephone

REGISTRIES

» The books, registries, and certificates of the company can

be kept in any place or country that the directors choose

» It is not necessary to neither present nor register annual

accounts

REGISTERED OFFICE, CORPORATE SEAL, AND LEGALIZATION

» It is required that the Registered Office be located in

British Anguilla (B.A.)

» Corporate seal is obligatory

» The Apostille is the method usually employed for the

legalization of documents

USE OF INTERNATIONAL BUSINESS CORPORATIONS OF BRITISH ANGUILLA (B.A. IBC’s)

» Titleholder of bank accounts, fix-term deposits,

investment projects, and any other financial or commercial title

» Proprietor of shares of other corporations or legal entities

» Proprietor of apartments, houses, buildings, ships and any

other assets or real estate or chattel

» Administrator or promoter of international commercial

transactions

» International leasing of vehicles, machinery, ships, and

other

» Ideal instrument to give or receive money in loan, pay or

receive commissions, royalties, and other revenues

» Marketing and promotion of products and services

» Other commercial and financial activities

» POPULATION

13,500 inhabitants (2006 estimate)

» CLIMATE

Tropical

» OFFICIAL LANGUAGE

English

» GOVERMENT

Overseas British Territory. Is a territory under the sovereignty of the United Kingdom, but does not conform part of the United Kingdom itself.

» STANDARD OF LIVING

High

» BANKING

International banking systems available.

» CURRENCY

East Caribbean Dollar, although the dollar of the United States of America (US$) is also broadly accepted.

» INDUSTRY

Tourism and financial services.

TAXES

Tax exemption on any commercial activity or transaction carried out outside the British Anguilla (B.A.).

SHARE CAPITAL

» Nominative or redeemable shares, at the owner’s option

» No paid-in capital is required

» There are no minimum or maximum capital requirements

» Bearer shares are permitted, but subject to custody services

ANNUAL TAX DECLARATIONS

It is not obligatory to present neither annual tax declaration nor financial statements; it is not obligatory to hold an annual shareholders or directors meeting.

INCORPORATION AND ADMINISTRATION

» Ample availability of company names for incorporations

» Familiarity with corporate documents because the British Anguilla (B.A.) is a

dependent territory of the United Kingdom

» The word “Limited” can be used as part of the name of the company

» Expeditious incorporation process and simple administration

» The Public Registry of British Anguilla (B.A.) is equipped with a modern and

sophisticated online system (ACORN) that increases the speed and efficiency of the processing of documents in a prompt manner

» There are companies available in reserve; however, with the ACORN systems

these are practically unnecessary

» Taxes and mortgages are registered

DOCUMENTS KEPT IN THE REGISTERED OFFICE

» Copy of Shareholders Registry

» Copy of the impression of the official seal

COSTS AND HONORARIES

Reasonable incorporation and maintenance costs

REDOMICILIATION

Corporations of other jurisdictions can be expeditiously redomiciled to British Anguilla (B.A.)

CORBETTI PEZZOTTI & QUIJANO REQUIREMENTS

Adequate references of moral solvency and other due diligence documents, as required

*Information courtesy of MOSSACK FONSECA & CO.