Anguilla is a British overseas territory and is the northernmost island in the Leeward chain, located just a short distance from Puerto Rica. As a former British Colony English is widely spoken and the legal system is based on English Law.
Anguilla has few natural resources and the economy depends heavily on tourism and offshore banking and corporate services. Anguillan officials have put substantial effort into developing the offshore financial sector which has grown consistently.
Anguilla is a true neutral tax jurisdiction and has numerous advantages, some of which are listed below:
Key benefits of Anguilla:
- Anguilla offers an excellent degree of political stability
- The legal system in Anguilla is common law based on English Law
- Zero taxation on corporations or individuals, residing on the island or not. Includes capital gains, profit and income tax. This makes Anguilla an attractive jurisdiction in which to base financial services and assets.
- No requirement for submission of Annual Returns or Financial Statements.
- Highly professional and experienced professionals (Lawyers, Accountants, Corporate Service providers) in order to provide support.
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Cyprus implements the Hague Convention, legally recognising Trusts as a type of Equitable Law
This year, the Republic of Cyprus ratified The Hague Conventions’ definition of the legislation applicable to trusts and furthering the regulations surrounding their recognition. Cyprus common law now recognises trusts as a unique legal institution under equity.
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Cyprus is the perfect location for incorporating an offshore or private company due to its simple incorporation procedures and agreeable tax structure. Below are the steps to company formation, the registration procedure, and all documentation required for incorporation:
ACRA release new initiatives for Singapore Filing Agents
ACRA have released new guidelines introduced to update the current system, bringing it transparently in line with other jurisdictions; going forward, businesses will be offered a copy of their business profile and the amount of information available for public use will increase substantially.
The servicing of documents to a Cyprus company & failure to act
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Gibraltar companies now have to disclose full Beneficial Ownership details to Central Register
Gibraltar is working to implement all EU legislation relating to the 4th Anti Money Laundering Directive into national law, in addition to the current EU legislation on financial supervision and direct taxation, and to this affect, the Government of Gibraltar have established a Central Register of Beneficial Ownership that will be effective from June 26th 2017.
European Commission publishes tax avoidance disclosure directive
The EC (European Commission) has published its draft legislation compelling financial service providers or intermediaries to disclose any international tax planning schemes they have encouraged, enabled or assisted in any way.