Anguilla Limited Liability Companies

The Anguilla Limited Liability Company is modeled according to the United States based Limited Liability Companies or LLCs created in Wyoming in 1977. Anguillan LLCs are hybrid entities that do not refer to their proprietors as directors or shareholders, but members, since shares are not issued and business operations are commenced by contributions made towards the company by each member. Anguillan LLCs are effective and efficient for conducting different types of business activities internationally and provide personal asset protection by limiting the liabilities of the members to the value of their investment or contribution. The Limited Liability Company Act of Anguilla for part of the interim revised statutes of Anguilla and was passed in October, 2000.

Very often one asks why offshore? Asset protection offshore is telling in many ways and comes with the legal privileges from other jurisdictions. This has made second citizenship a major asset protection tool besides foundations and companies. It does not involve setting up entities but simply getting access to better life conditions. Example, retirees get better or zero tax on retirement income, while tax planners can maximize financial resources from higher interest rates on savings accounts. Buying real estate to increase wealth which serves as future collateral is a big advantage as well.

Anguillan LLCs can be formed by simply following very simple incorporation procedures. LLCs must be incorporated through a locally based licensed offshore service provider who assumes the responsibility of filing and preparing the necessary LLC corporate documents. Anguillan LLCs can be instantly incorporated via ACORN – Anguilla Commercial Online Registration Network which assists with name check and verification and document filing for quick and efficient Anguilla LLC formation. Anguillan LLC names must include “LLC” or “Limited Liability Company”, as in the example of “Global Management Limited Liability Company” or “International Services LLC” and cannot include words or phrases that are unacceptable under Anguillan law. In the event that someone wishes to form an Anguillan LLC and is fearful of the name in mind gets used by someone else, he may choose to reserve a company name which can be done for a period of 120 days.

Business activities such as trust, banking, insurance brokerage, reinsurance and insurance management cannot be performed by Anguillan LLCs since these activities are restricted to banks, insurance and trust companies that specialize in providing these types of services. Anguillan LLCs are more widely used for conducting trade, shipping, professional consultancy, mining and marketing and are effective instruments for protecting one’s assets, deferring taxes, accumulating wealth and expanding business operations throughout various parts of the world.

Being an entity first created in the United States, the LLC is considered a credible structure, which makes it popular for doing offshore business. Anguillan LLCs are granted the powers to elect and appoint managers, conduct business in any part of the world, lend money, make investments, reinvest its funds in different business ventures, become a member of partnerships, other companies or joint ventures, amend its operating agreement, make complaints and defend its name.

The formation process of the Anguillan LLC is also very simple and only involves the incorporation of the business name and filing of the Articles of Formation and the Operating Agreement. The Articles of Formation contains the LLC’s name, the address of its registered office and first registered agent’s name and address including a date of dissolution in the event that a dissolution date was specified by the LLC’s members and other important clauses that the members may wish to include in regards to the functioning and management of the company so long as they are consistent with the laws of Anguilla.

The Operation Agreements of an Anguillan LLC may contain clauses that state the distribution of profits and losses among members, define the powers, rights and duties of different classes, groups or ranking of members and make provisions for the creation of new and amended LLC agreements without the approval or vote of any member or class of member.

Overseas based Anguillan LLCs are exempt from corporate tax, withholding tax, income tax and other similar taxes that are levied by measuring the assets and funds accumulated from business conducted outside of Anguilla. Anguillan LLCs that hold bank accounts, maintain financial reports and managerial or administrative in Anguilla in regards to business done outside of Anguilla are not considered to be conducting business locally.