Anguilla LLC Formation
The Anguilla LLC / Limited Liability Company was one of the first laws outside of the United States to offer this type of entity. The Limited Liability Company Act (LLC) was originally enacted in 1994 and then revised in 2000. Its LLC law was based on the law enabling LLC’s in the state of Wyoming in the United States. However, Anguilla’s LLC law goes much further than the one in Wyoming, for instance, permitting perpetual life of a LLC or as long as the LLC Agreement allows.
In addition, Anguilla structured its law so their LLC’s possess less than three of the four characteristics of U.S. corporations according to the U.S. Internal Revenue Service (IRS) which are: (a) limited liability, (b) continuity of life, (c) free transfer of interests, and (d) centralized management. Therefore, even under U.S. laws, an Anguilla LLC is treated as a partnership where its members have limited liability with all profits and losses of the LLC passing straight through to the individual members for taxation benefits.
It uses the English Common Law legal system.
Anguilla is an island nation located in the Caribbean. Anguilla’s capital is The Valley which is a small “town” whose population is around 2,000 persons.
Anguilla is a United Kingdom Overseas Territory with rights to local self-government. Its government includes democratically elected parliament with multiple political parties. Its Constitution was created in 1982 with an executive branch, its legislative branch, and a judiciary branch.
Britain provides military defense to Anguilla but has no presence of soldiers or garrisons or even military bases.
Anguilla Limited Liability Company (LLC) Benefits
There are several benefits for an Anguilla IBC including:
• Tax Exemptions: Anguilla LLC’s do not pay capital gains tax or corporate tax, and its members are not subject to income taxes in Anguilla as long as the LLC does not conduct business within Anguilla or with its residents. However, U.S. citizens and others who reside in countries who tax worldwide income are required to declare all income to their tax authorities.
• Limited Liability: Members enjoy limited liability from the debts and legal liabilities of the LLC.
• One Member: Only one member is required to register a LLC.
• One Manager: Only one manger is required to register a LLC which can be a member.
• Fast Registration: Upon completion of registration forms and payment of registration funds, an Anguilla LLC can be registered within 24 hours.
• Low Registration Fee: The registration fee of a LLC costs $250 USD.
• Privacy: Under the laws of Anguilla, it is a crime for anyone to reveal any information about an Anguilla company. Records at the government’s Registrar Office are not available to the public.
• No Minimum Authorized Share Capital: There is no minimum Authorized Share Capital requirement for Anguillan LLC’s.
• Flexibility: The Articles of Formation has great authority to specify the types of members along with their rights, duties, and powers; the business activities, duration of life, and can be amended at any time.
An Anguilla LLC must have a unique name which is not similar to other corporations or company names. In addition, the name must include either the words “Limited Liability Company”, or an abbreviation like “L.L.C.” or “LLC”.
Office Address and Local Agent
The LLC must have a local registered office and a local registered agent which is a licensed company.
A minimum of one member is required to form a LLC. Members can be individuals or corporations from any country and reside anywhere in the world.
Managers and Officers
A minimum of one manager is required who can be from any country residing anywhere. In addition, a manager can be a member.
There are no requirements to have officers. If they do appoint officers, they may be from any country and can be individuals or corporations not having to reside in Anguilla.
Anguilla LLC’s do not pay corporate tax or capital gains tax, and its members are not subject to income taxes in Anguilla as long as the LLC does not conduct business within Anguilla or with its residents.
The initial incorporation government fee is $350 USD and subsequent annual renewal fees cost $250 USD.
Only the Articles of Formation must be filed with the Registrar Office which is not made available to the public.
It is a crime for anyone to reveal any information about an Anguilla company. The only exception is pursuant to a court order issued by an Anguilla court only relating to investigations of crimes.
Accounting and Audit Requirements
Accounting or financial statements are not required to be filed with the government. Neither is the appointment of an auditor. Books and records must be kept and made available for inspection if requested by the government.
Annual General Meeting
Annual general meetings are not obligatory for Anguilla LLC’s. But, if they choose to hold meetings, they can be held anywhere.
Time Required for Incorporation
It normally only takes less than one day to register an Anguilla LLC.
Shelf companies can be purchased for faster registration.
There are several benefits for Anguilla LLC’s including: no corporate or capital gains taxes and no local income tax to the members, only one member required to register a LLC, fast registration, low registration fee of $350 USD and renewal fees of only $250 USD, privacy as no public access to the government’s registry office, no minimum authorized share capital, flexibility with running the LLC, and English is the official language.