Anguilla is a British overseas territory located in the Caribbean, specifically in the north of the Windward Islands, in the Lesser Antilles.
It is one of the 17 Non-Self-Governing Territories under the supervision of the United Nations Decolonization Committee, in order to eliminate colonialism. Its capital is The Valley.
The archipelago comprises the island of Anguilla and some nearby islets and has maritime borders with the island of San Martin to the southeast. To the west are the British Virgin Islands.
In recent years Anguilla has become one of the most popular offshore financial centers internationally, as the State does not levy any kind of taxes or commissions to individuals and corporations.
The Head of State is the Queen of the United Kingdom Queen Elizabeth II of England, represented by Governor Alan Huckle, who is appointed by the Queen. The Head of Government is the Chief Minister Osbourne Fleming, who is appointed by the Governor within the majority block of the Assembly, who must form an Executive Council approved by said chamber.
Anguilla has few natural resources, and the economy depends a lot on tourism, corporate and financial services, lobster fishing and remittances from emigrants. Its currency is the Eastern Caribbean Dollar (XCD).
The main products that it produces and exports are salt, fish, lobsters, concrete blocks, cattle, tobacco and rum.
The issuance of postage stamps intended primarily for philatelic collecting is also a source of income for its economy.
The Offshore financial services sector consists of banks, money services businesses, company managers, insurers, brokers, captive intermediaries, mutual funds and trust companies.
The captive industry plays an ever-increasing and important part of Anguilla’s financial services industry. Anguilla is the fifth-largest jurisdiction for captive insurance, behind Bermuda, Cayman, Vermont and Guernsey.
More Corporate and Tax Legislation Changes of Offshore Companies In the previous letter, we alerted you about the massive legislative changes occurring across all offshore jurisdictions to comply with the OECD’s Base Erosion and Profit