Offshore Banking

Anguilla : Ideal for Offshore Business

The tiny, quiet, island of Anguilla can be deceiving at first glance. The British-owned island has long been promising itself as an international financial hub. The burgeoning financial sector offers a plethora of services such as dealing with trust management, insurances and mutual funds. The government keeps updating its laws to ensure Anguilla is in sync with current developments in the world financial markets and is fast becoming a center for international e-commerce. However, the government remains vigilant in ensuring that the country does not become a center for money laundering.

Non-resident owners

are exempt from local Exchange control regulations and the government allows some latitude for doing financial business in Anguilla, i.e. incorporating an international company (one of several forms of companies permitted under Anguilla law and the one most suitable for offshore investors. For further information please visit First Anguilla Trust Company Limited website.

The laws regarding foreign investments are complicated to most and a local attorney must be consulted to ensure all forms and procedures are completed accurately and in a timely manner.

Corporate Offshore Account

  • Notarized copy of passport (or other form of photo identification). Some banks also require apostille.

  • Notarized copy of a utility bill or bank statement as proof of address. Some banks also require apostille.

  • A bank reference. This is usually a letter from a bank, on the bank’s official letterhead, stating that you have been a customer for so and so many years and have always been an upstanding customer. Don’t worry if you haven’t. As long as you are still a customer of the bank, they will almost always provide one.

  • A professional reference. These are quite rare, but some banks require them. Can often be substituted for another bank reference (if you use two different banks). Professional reference is a letter from a lawyer, accountant, or other person of reputable profession confirming that you are of good character.

  • Full set of notarized company documents. This includes memorandum and articles of association, certificate of incorporation, certificate of good standing, register of directors, register of members/shareholders, and company structure diagram (if there are corporate shareholders, for example).

  • Detailed business plan, outlining the goal of the company, estimate turnover/revenue, marketing channels, and a competition analysis.

If you open a corporate account for your offshore company using an OSP, they will take care of the company documents.