Anguilla Protected Cell Company

In 2004, Anguilla enacted the protected cell company act (PCC) which allowed a corporate entity to have separate cells which can function separately from each other. Moreover, the debt and or liabilities of one cell cannot be attributed to another cell without the express permission of the other cell owners. This is an attractive and useful feature for insurance/captive insurance companies, mutual funds and asset protection structures. However, PCC Companies are subject to specific licensing requirements. The license must be obtained prior to incorporation.

Anguilla PCC Key Features

Companies engaged in insurance and other business as approved by the Commission are able to apply to be registered as protected cell companies
An application for registration as an Anguilla PCC must include the company’s name, incorporation date, nature of business, and a statement from the articles of association stating that the company is a PCC, the name and address of the PCC’s registered address, a statement indicating that the company intends to administer protected cell accounts
Anguilla protected cell companies must designate an Anguilla based registered agent and office
Anguilla protected cell companies are allowed to create and issue more than one class of security for securities related to a particular protected cell account
Protected cell companies which are not mutual funds are able to distribute assets or liabilities between two or more protected cell accounts and the company’s general account.

Anguilla PCC Legal Requirements

Anguilla PCC	Corporate Details
General
Type of entity:	PCC
Type of law:	Hybrid
Number of Cells	Unlimited
Registered Office	Yes
Share capital or equivalent
Standard currency:	US$
Minimum paid up:	10% of the Authorized capital
Shares types	Cellular and non-Cellular
Directors
Minimum number:	Two
Corporate Director	Not Allowed
Local required:	No
Company Secretary
Required:	Yes (must be a Anguilla Corporate Service Provider)
Annual Accounts, Audit, Return
Requirement to file accounts:	Yes, to the Commission
Requirement to file annual return:	Yes, to the commission
Permitted Business Activities	1. Insurance 2. Mutual Funds 3. Any other business activity approved by the commission

Anguilla PCC Tax Treatment

An Anguillan PCC is exempted from stamp duty in respect of properties, shares and all transactions relating to its business
Not liable for business tax on income derived outside Anguilla

Anguilla PCC Duration for Set up

Around 2 weeks

Advantages

Anguilla PCC as part of business structure is ideal for use in umbrella funds and captive insurance structures, because the losses of one cell will not have an adverse effect on the other cells
Anguilla PCC can limit the creditor exposure, the cells are independent and the assets of a particular cell can be applied to the liabilities of that particular cell only
Anguilla PCC is cost effective compared to forming various subsidies for different businesses
Anguilla PCC has an unlimited number of cells.

The Valsen Advantage

End to end comprehensive service
Speedy and efficient service
Expert advice on structuring options
Dedicated ongoing compliance support
Extensive network pool of service providers

Anguilla Offering