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economic subtance requirements in Anguilla

Came into effect in Jan 2019, all Anguilla companies and limited partnerships who engage in relevant activities will be subject to economic substance requirements as follows:

  • It has an adequate number of qualified employees, operating expenditures and adequate physical assets (whether leased, rented or owned) in Anguilla;
  • It engages in core income generating activities (CIGAs) in Anguilla;
  • Its mind and management takes place in Anguilla.

The relevant activities include:

  • Banking
  • Insurance
  • Fund management
  • Financing and leasing
  • Distribution and service centre
  • Shipping
  • Intellectual property business
  • Headquarters
  • Holding company

There are a lighter version of substance requirements for holding company and enhanced version of obligations applied for high risk intellectual property business.

If the company or limited partnership is tax resident and centrally managed and controlled in another jurisdiction that has a tax rate of greater than 10%, and already filed its evidence of tax residence in other jurisdictions with the Registrar, it will be exempt from the substance requirements.

All companies and limited partnerships registered in Anguilla must submit annual return to determine whether they engage in relevant activities and comply with the economic substance requirements.

If you have any queries regarding Anguilla company, please don’t hesitate to contact us at service@bbcincorp.com

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