Offshore banking licenses are granted under the Trust Companies and Offshore Banking Act (TCOBA). Under the TCOBA, a banking licence is granted to applicants who are fit and proper and qualified to carry on offshore banking business. Under current guidelines offshore banking licenses will only be granted to:

  1. Branches or subsidiaries of banks with a well-established and proven track record which are subject to effective consolidated supervision.
  2. Banks which, although not subsidiaries are closely associated with an overseas bank, and which, by agreement, will be included within the consolidated supervision exercised by the overseas bank’s home supervisory authority.
  3. Wholly-owned subsidiaries of acceptable non-bank corporations whose shares are quoted on a recognized stock exchange, where the objective of the subsidiary is to undertake in-house treasury operations only, and where such operations are fully consolidated within the published financial statements of the parent company.

Anguilla Banking Licence Key Feature

  1. Name changes, share/interest transfers and issuance must be approved by the Inspector
  2. Anguilla offshore banks must not operate with less than 2 directors
  3. Holders, with the exception of domestic banks, must have a minimum paid-up share capital of $250,000
  4. Minimum paid-up share capital is variable and is prescribed by the Governor
  5. Share capital may be increased by the Governor upon recommendation of the Inspector ### Anguilla Offshore Insurance

Anguilla Banking Licence Legal Requirements

Anguilla Banking Licence

Description

General

  • Corporate  vehicle permitted

Anguilla IBC

  • Local physical office required

Yes

Share capital or equivalent

  • Minimum paid up capital

US$250,000

Directors

  • Minimum number

2

  • Corporate directorship allowed

Yes

  • Local director required

Yes

Shareholders

  • Minimum number

2

  • Corporate shareholders allowed

Yes

  • Local  shareholders required

No

Service Providers Required

  • Company Secretary

No

Anguilla Banking Licence Tax Treatment

No Taxation on wealth, income, capital, dividends.

Anguilla Banking Licence Duration to Set Up

3 months

Anguilla Banking Licence Distinctive Benefits

  • Anguilla is a zero tax jurisdiction.
  • Anguilla is a jurisdiction with no foreign exchange restrictions.
  • Flexible, modern legislation in a jurisdiction committed to growth.
  • Complete Confidentiality regarding tax and related issues.

Why US (Key Strengths)

  1. We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances.
  2. Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  3. We are very hands on in the post filing period checking with the regulator and service providers and updating you regularly.
  4. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  5. We have a full in-house compliance support for all compliance requirements with the regulator and service providers