3 secret ways this special tax haven is used by entrepreneurs and even multinationals
Anguilla is a popular place for numerous purposes, as well as of course as a natural paradise to live in without paying any taxes.
First, Anguilla is a popular place for trusts, especially Asset Protection Trusts (APT).
This type of trust is often set up by professionals, such as doctors, dentists and other professionals, to protect their assets from frivolous lawsuits and other bogus legal actions.
Furthermore, trusts for the protection of family assets are not uncommon, even in the event of disagreements with the spouse.
Anguilla is one of the main jurisdictions for the establishment of trusts also depending on the privacy laws present in this territory.
Anguilla courts usually allow very limited claims against trusts, mainly if the claim is about divorce, debt or foreign tax.
Even so, being able to satisfy oneself on a trust from another country is a very difficult, and very expensive, undertaking for any creditor; therefore, unless it is huge amounts, many creditors do not even venture into similar lawsuits.
Secondly, Anguilla is used to access its excellent financial and banking services.
In fact, there are over 100 different banks in Anguilla, including prestigious names such as Barclays and Bank of America.
However, it should be noted that Anguilla has agreed to implement the OECD Information Exchange Treaty, and is now on the OECD white list, so the transfer of tax residence must be carefully planned if you want to avoid also the reporting obligations of the banking data.
Finally, Anguilla is chosen by those who want to form offshore companies in a tax free jurisdiction.
Anguilla offers an International Business Company (IBC), which allows you to operate outside Anguilla.
It is not a particularly convenient choice for holding companies, given that there are few double taxation treaties, but it can be ideal for many other purposes.
In the latest installment of this mini series on Anguilla, we will reveal whether or not Anguilla is a safe place to live, at what prices you can find prestigious beachfront apartments, and we will see how you can get a permanent residence.
Contact us right now for specific advice.
Remember that laws change all the time; therefore it is essential to check the law in force when you decide to relocate or move abroad.
It is also very important that you speak to your international tax attorney before starting any type of tax planning or relocation of your business.
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- protect your assets, making them "untouchable";
- become an international / global entrepreneur, able to use all world regulations and tax advantages to your benefit;
- making you profit using tax havens;
- acquire multiple residences;
- acquire new passports;
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