Anguilla is an island in the Caribbean which is well known for its white sand beaches and remarkable hotel resorts. Anguilla is situated in the northern part of the Caribbean. Anguilla is part of Britain Overseas Territory in the Caribbean. As far as tax havens go in the Caribbean region Anguilla qualifies as one of the most respectable. Also an offshore jurisdiction, Anguilla provides quality offshore services which includes the formation of trusts and foundations, the incorporation of offshore companies or International Business companies (IBCs)and Limited Liability Companies(LLCs), offshore banking and limited liability companies (LLCs) among other superb services.
A tax haven is often referred to as a country or territory which implements very low taxes regimes or no taxes at all. Most tax havens of the world are actually offshore jurisdictions which are categorized for having the following characteristics: providing privacy, confidentiality and secrecy in banking, commercial and other such activity, the clients of these tax havens are mostly persons who are non residents to the country.
Anguilla like many other tax havens in the Caribbean region can be referred to as a pure tax haven. The offshore jurisdiction of Anguilla boasts of zero taxation levied on the profits, dividends and other types of income gained by offshore business entities or international business companies outside of the jurisdiction. The offshore jurisdictions of Anguilla imposes none of the following taxes on individuals or corporations; capital gains tax, estate tax, withholding tax, income tax, corporate tax, inheritance tax among other forms of taxes. It is for this reason that Anguilla has become one of the most popular tax havens in the Caribbean.
As a tax haven Anguilla encourages offshore banking and does not tax the income in such bank accounts. There are many offshore banking institutions in Anguilla and no taxes is imposed on the profits made by offshore bank accounts. Similarly offshore limited Liability companies in Anguilla pay no taxes if all the corporations’ profits and other types of incomes are earned outside of the jurisdiction. Foundations and exempt trusts formed in Anguilla pay no taxes. All offshore entities incorporated or formed in tax haven Anguilla are exempted from Stamp Duty which would normally have been paid on transfers done on behalf of companies, trusts and foundations etc.
Anguilla has progressive legislation in place which protects the privacy of offshore clients, offshore bank accounts and offshore business entities. The Anguilla offshore banking Act of 2005 states that, no bank employee or Central bank agent can give away information pertaining to an offshore bank account without the consent of the bank accountholder. Penalties for going against this law are a monetary fine a term of imprisonment. Information about the beneficial owners of International Business companies cannot be given out. If this is done it is considered an offense and perpetrators are punishable.
In tax haven Anguilla offshore companies can be incorporated with one shareholder and one director; the shareholder and director can be the same person which allows the International Business Company to maintain a flexible structure which is very easy to manage. The names of the beneficial owners and directors of offshore corporations in Anguilla are not filed in the public registry therefore this information is not available to the public. Offshore companies legislation in Anguilla seeks to provide further privacy by allowing offshore companies to be registered using nominee directors, shareholders and members.
The offshore jurisdiction of Anguilla has not signed any known double tax agreements or treaties with any foreign governments (including the United States, Canada). Anguilla as an offshore jurisdiction is well known for providing privacy for clients. The offshore tax haven of Anguilla has no exchange controls in place which is to the advantage of offshore corporations. The fact that there are no exchange controls law in place makes it easier for International Business Companies and other offshore entities, to transfer funds without signing declarations of funds or other such documents. This makes it very easy for such business entities to engage in international trade without many restrictions.
According to offshore companies legislation there is no need for an Anguilla offshore corporation to file its annual accounts or annual financial statements with the tax authorities on the offshore jurisdiction. There is no restriction on the nationality of persons that can own and incorporate international business companies and operate offshore bank accounts in the offshore jurisdiction of Anguilla.
The tax haven of Anguilla is an excellent location for those persons who are into tax planning. Anguilla implements zero taxes which makes the offshore jurisdiction an outstanding medium to be used for reducing taxes. The laws of Anguilla are strict but modern. The territory is favorable for asset protection. Tax haven Anguilla is a top class offshore jurisdiction which provides clients with avenues for investments and increasing revenues gained.