4.jpg

Anguilla Foundation

The Anguilla Foundation is the newest corporate entity added to the number of financial services provided in Anguilla. The Anguilla Foundation Act was passed in June 2008, which made Anguilla Foundations part of the country’s government to strengthen its financial services sector whilst raising its profile as a competitor among other financial services centers.

Any person or corporation that wishes to set up an offshore foundation in Anguilla must solicit the services of a registered offshore agent in Anguilla. Anguilla Foundations can be set up either by a physical person or corporation through a written declaration of establishment. An Anguillan Foundation is established on behalf of a founder by a licensed registered agent in Anguilla that provides Anguilla foundation formation services. The assets given to the foundation when being established must have a minimum value of USD 10,000. Anguilla foundations are established with three main persons, which include the founder (the person donating assets to the Anguilla foundation), the Foundation Council (the foundation’s administrative body), the Beneficiaries (the person (s) or organization that benefits from or inherits the foundation’s assets). These are the three main components required for setting up an Anguilla Foundation and without which a foundation will be considered nonexistent.

The functions and uses of Anguilla Foundations are similar to those of foundations formed in other jurisdictions. Anguilla foundations stem from the classic Liechtenstein Private Foundations based on civil law and is a hybrid entity created by combining the advantageous features of a trust and corporation. Anguilla foundations are thus legal independent entities just as corporations and are able to hold assets just as is done in with the use of a trust. Anguilla foundations are capable of signing agreements and contracts, purchasing and selling property and holding assets.

These capabilities of Anguillan Foundations make them ideal for maintaining anonymity when performing business transactions, as well as planning how savings can be made on taxes through tax deferment as funds held in an Anguilla foundation do not constitute a source of income. The assets of a family can also be privately allocated and disposed without necessarily having to prepare a will, which is a public document and can be publicly scrutinized. Anguillan Foundations therefore provide a lot more privacy with regards to keeping family matters only within the family and not to anyone else. Anguilla foundations are thus ideal vehicles for effective estate and tax planning. Furthermore, according to the by-laws established for governing Anguilla Foundations, any of the foundation’s assets that have been allotted to a beneficiary cannot be alienated, passed because of insolvency or bankruptcy, seized, claimed or sold.

Confidence can be put into establishing Anguilla foundations because of the jurisdiction’s safety, stable regulatory framework and reputation as a quality financial services provider. Anguilla foundations are independent entities and managed by a council, which ensures that the wishes of the founder of the Anguilla foundation are met. According to the Anguilla Foundation Act and the declaration of establishment, Anguilla foundations can be used to fulfill several financial and personal objectives as long as they are compliant with the laws of both

Anguilla and the countries where transactions involving the foundation are undertaken. In the cases where licenses are required for carrying out certain activities, a license should be obtained before performing such activity. Anguilla foundations are flexible vehicles and are an effective means of managing the wea

back to top