Why Anguilla?

• A zero tax jurisdiction
• A quality tourist destination
• The only jurisdiction with ACORN
• A jurisdiction with excellent telecommunications
• A jurisdiction with no foreign exchange restrictions
• A British Overseas Territory situated in the Caribbean
• A jurisdiction with modern financial services legislation
• A jurisdiction with a broad, reputable, professional infrastructure
• A jurisdiction with a common law legal system based on English law

• ACORN access for registered overseas agents.
• Company "first choice" names normally available.
• No Taxation on wealth, income, capital, dividends.
• No Exchange Controls - US Dollars circulate freely.
• Complete Confidentiality regarding tax and related issues.
• Various accounts serviced by international and local Banks.
• Flexible, modern legislation in a jurisdiction committed to growth.

ANGUILLA

History: Anguilla was originally inhabited by, and was an important home island to, the Arawak Indians-an indigenous Caribbean race. Numerous significant artifacts have recently been unearthed which establish The Fountain (a fresh water underground spring) and other Island sites as important archeological finds which now draw substantial international interest. The British established control of Anguilla in the late 1600's, prevailing in numerous skirmishes with other European powers throughout the colonial period, so that today Anguilla is a British Dependent Territory.

Geography: Anguilla is the most northerly of the Caribbean Leeward Islands, located approximately one and a half hours south east of Miami, Florida, or four and a half hours south east of New York City, with flight connections from those and other United States cities, as well as from Europe and Latin America, through Puerto Rico, St. Maarten, Antigua, and Curacao.

Anguilla has a land mass of 36 square miles, which supports an estimated population of 9,000. The island is generally flat with occasional rainfall, but has the finest powder white sand beaches in the Caribbean. The official language is English; the primary industries are tourism (featuring numerous world class resorts and restaurants, catering to high net worth individuals from the United States, Europe, and Latin America), financial services, boat building, and fishing.

Government: In 1969, Anguilla succeeded from Associated Statehood with St. Kitts and Nevis, opting for direct British rule, which was officially granted in 1982. Today, as a British Dependent Territory, Anguilla does not have any political connections to the independent nation of St. Kitts and Nevis. Anguilla is a stable society and strong democracy, peacefully governed by an Executive Council of ministers appointed from the Legislative Council of elected members, presided over by a British appointed Governor. Britain maintains responsibility for defense and foreign affairs. Elections are held at least once in every five years.

LAW: Anguilla's legal system is based upon English Common Law, with local modifications. The judiciary is independent of the Executive and Legislative branches, and is fully independent of political influence. Anguilla has, since 1992 (and specifically in 1994), introduced and adopted numerous pieces of modern financial services legislation. These laws were drafted with the involvement of all elected legislators, with the advice of the private sector practitioners, and the consent of British Government representatives.

The new package of legislation is designed to be flexible, with provisions already in place for the soon to be introduced modem accessible company registry-capable of 24 hour per day incorporations for local management companies and their approved offshore affiliates.

CURRENCY DENOMINATION OF CAPITAL: The capital of International Business Companies (IBC's) is usually expressed in United States dollars, although any major currency may be used. The capital of all other companies is usually expressed in the local currency, the Eastern Caribbean dollar.

CURRENCY: The currency of Anguilla is the Eastern Caribbean (EC) dollar. The exchange rate between the US dollar and the EC dollar is fixed at 2.6882 EC to 1.00US.

EXCHANGE CONTROL: There are absolutely no foreign exchange controls, and the US dollar circulates freely throughout the economy. Bank accounts can be maintained in US dollars in either personal or corporate savings accounts, checking accounts, CD's, or other investment instruments.

BANKING FACILITIES: There are currently four domestic banks on Anguilla: two international, i.e. Barclays Bank and the Bank of Nova Scotia; and two local, i.e. Caribbean Commercial Bank and the National Bank of Anguilla. In addition there is currently one offshore bank, i.e. Hansa Bank. All banks on Anguilla offer a wide range of services, including trade finance.

CONFIDENTIALITY: The confidentiality Relationship Ordinance #10 of 1981, prohibits the unauthorized disclosure of information relating to a person's or a corporation's business affairs on Anguilla. Neither the Registrar nor Registered Agent may reveal confidential information without a Gazette order to do so, under the penalty of law. It must be noted that the Ordinance does not offer protection with regard to the investigation of crimes which are offenses under the Anguillian law (i.e. drug related offenses, etc). However, as Anguilla does not have tax laws, tax related issues are not offenses under Anguillian law, therefore tax related matters cannot be a basis for the authorization of disclosure.

The common law duty of confidentiality of a banker, lawyer, accountant, or company manager, towards a client is rigorously applied in Anguilla. This fact is further reflected in the strict confidentiality provisions of the recently enacted banking and trust company legislation.

COMMUNICATIONS: Communications facilities on Anguilla are exceptional, and expanding. International direct dialing, cellular, fax, modem, Internet, and dedicated email service lines are all available.

INCOME TAX: There is absolutely no income tax on Anguilla.

CORPORATE TAX: There is absolutely no corporate tax on Anguilla.

CAPITAL GAINS TAX: There is absolutely no capital gains tax on Anguilla.

WITHHOLDING TAX: There is absolutely no withholding tax on Anguilla.

ESTATE TAX: There is absolutely no estate tax on Anguilla.

PROFIT TAX: There is absolutely no profit tax on Anguilla.

OTHER TAXES: There are absolutely no wealth taxes on Anguilla-all Government income is derived from accommodation fees, import duties, license fees, and company registrations.

TAX IMPLICATIONS: Anguilla is a unique jurisdiction that truly does not have any internal taxes. Anguilla is not a typical jurisdiction which has local taxes from which it exempts specific "offshore" entities. As such, there are exciting opportunities for establishing active companies (i.e. order acceptance operations, etc.) which actually do business, and books profits, on Island.

TAX TREATIES: As Anguilla has no taxes, it has no tax treaties.

TYPES OF COMPANIES: There are two types of companies of primary interest to the offshore investor: the International Business Company (IBC) and the Anguilla Specified Private Company (SPC).

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