Anguilla Archives

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AnguillaOffshore ServicesDecember 21, 2016

Titan International Securities Inc v The Attorney General of Belize: a decision at first instance that should be read across Caribbean International Financial Centres (IFCs)

On Jan. 15, 2016, Justice Courtney Abel of the Supreme Court of Belize handed down a decision which should be read across Caribbean IFCs, especially by regulators and law enforcement agencies from common law jurisdictions. The court found that the manner of the execution of a search warrant on the private offices of a licensed […]

AnguillaOffshore ServicesDecember 21, 2016

EU’s blacklisting of Caribbean IFSCs: A surprise to no one

On June 17, 2015, the EU published its list of top 30 non-cooperative jurisdictions – or tax-havens as they are called by both a hostile media and politicians – ostensibly as part of a crackdown on companies which are using these financial services centers to minimize paying taxes, legitimately I might add, in the EU […]

AnguillaOffshore ServicesDecember 21, 2016

British Overseas Territories in the Caribbean agree to central registries of beneficial ownership information – the first step on the slippery slope to full disclosure has been taken

At the recently concluded Dec. 1-2, 2015 Joint Ministerial Council (JMC) in London, held with the UK Minister for the Overseas Territories, James Duddridge MP, the British Overseas Territories (BOTS) agreed to “hold beneficial ownership information in our respective jurisdictions via central registers or similarly effective systems.” The communique issued by the BOTS and […]

AnguillaOffshore ServicesDecember 21, 2016

The Eastern Caribbean Currency Union at a crossroads: The road ahead

On April 14, 2015, the then-Chairman of the Eastern Caribbean Central Bank (ECCB) Ralph Gonsalves, prime minister of Saint Vincent and the Grenadines, addressed the citizens of the Eastern Caribbean Currency Union (ECCU) on decisions taken by the Monetary Council (MC) of the ECCB on Feb. 24, 2015, at its headquarters in Basseterre, St. Kitts. […]

AnguillaOffshore ServicesAugust 15, 2016

Anguilla’s indigenous banking crisis: An in-depth analysis and lessons for the region

On Aug. 12, 2013, the Eastern Caribbean Central Bank took control of Anguilla’s two indigenous banks, the National Bank of Anguilla Limited (NBA) and Caribbean Commercial Bank (Anguilla) Limited (CCB) under the powers granted to it under the Eastern Caribbean Central Bank Agreement Act which established the central bank within the laws of Anguilla.1 The […]

AnguillaOffshore ServicesAugust 15, 2016

The shape of the international financial services industry post-Panama Papers: a view from Anguilla

The data leak from the Panamanian law firm, Mossack Fonseca (MossFon), styled by the media as the Panama Papers, has been discussed, dissected and reported on ad nauseam over the past few months, and the issue will remain in the headlines for the foreseeable future. The purpose of this article is to lay out some […]

AnguillaOffshore ServicesNovember 10, 2015

Public register of beneficial ownership information: a solution in search of a problem

In June 2014, the government of Anguilla published for public consultation, a document entitled: “Enhancing the transparency of Anguillian company ownership and increasing trust in Anguillian business.” The document stated that the objectives of the consultation, which is currently ongoing until later in the summer, are to ascertain the public’s views on: Whether the commercial […]

AnguillaCorporate LawAugust 26, 2015

Fees Payable To Technology Solutions Or Computer Systems In Angola Now Defined

Concerning certificates on public and private businesses’ technical competency and capability in IT and communication domains, the Ministries of Finance and Telecommunications and Information Technologies approved the collection of fees for issuing these registry certificates, and for approval, auditing and supervision of technology solutions or computer systems. The collection is efective as from July 1st. […]

AnguillaOffshore ServicesJuly 21, 2015

Economic citizenship and residency programs: Are they an option for international financial centers?

By: Carlyle K. Rogers and Jean M. Dyer Recent moves by the Turks and Caicos Islands (TCI) government to enact legislation to provide for an investor residency program has thrown into the spotlight the issue as to whether or not economic citizenship and residency programs could be an option for IFCs seeking to increase government […]

Afghanistan Aland IslandsBanking & FinanceFebruary 25, 2015

Securitization in Luxembourg

By “securitisation” is meant the operation by which a securitisation vehicle acquires or takes on risks linked to loans, goods or liabilities accepted by a third party by issuing transferable securities the value or yield of which is dependent on these risks. Practically speaking, a securitisation operation consists of bringing together a group of assets […]

Anguilla ArgentinaAdministrative Law Aviation LawJanuary 26, 2015

New law on professional fees in the City of Buenos Aires

On November 27, 2014 Law No. 5,134, which regulates lawyers’ and solicitors’ fees who work in the City of Buenos Aires (hereafter the “Law”), was published in the Official Gazette. The Law, which was promoted by Jorge Rizzo and Daniel Lipovetsky from the City of Buenos Aires’s Bar Association (“CBABA”), was approved in a special […]

Javier CanosaPartner, Canosa Abogados

Afghanistan Aland IslandsCorporate ServicesJanuary 26, 2015

The advantage of a SOPARFI in Luxembourg

The SOPARFI (Société de Participations Financières) is not a special type of company but an ordinary commercial entity governed by common law, specifically the 1915 Law on commercial companies. It does not enjoy any special tax regime and is fully taxable. There are no restraints on its field of activity. A Soparfi can, however, significantly […]