Anguilla

Population:

11,000

Currency:

Eastern Caribbean dollar, EC$2.70 = US$1 (mid-2005, fixed rate)

Language:

English

Time zone:

GMT plus 8

Centre's expertise:

Islamic financial products

General requirements

Type of entity

International business company

Type of law

Common Law with local modifications

Shelf company available

Yes

Time to establish a new company

Incorporation may be done online in minutes

Taxation

Nil: Anguilla is pure tax haven

Double taxation agreements

None

Forex restrictions

No foreign exchange controls and the US dollar circulates freely

Language & name restrictions on companies

Names may be registered in any language, including Chinese; banks and financials need licenses

Share capital

Permitted currencies

Any

Minimum paid up

US$1

Usual authorized capital

US$50,000

Directors and personnel

Minimum number

1

Local required

No

Company secretary & qualifications

A company secretary is not required but is normally appointed

Shareholders and AGM

Minimum number

1

Disclosure requirements

Yes

Publicly accessible records

No

Obligations for annual meetings

No

Location of AGM

Anywhere

Accounts

Requirement to prepare

Yes

Audit requirements

No

Account filing obligations

No

Publicly accessible accounts

No

Other

Requirements to file annual return

No

Change in domicile permitted

Yes

Need to registered office

Yes, must be maintained in Anguilla at the addressof the licensed management company or law firm

Number of companies set up in last year

1,300