Working with the Anguilla Foundation List
The procedure for forming an Anguilla Foundation is quite simple and straightforward as creating an Anguilla Trust. With very few formalities and conditions, opening an Foundation in Anguilla is an effortless process. By definition, the foundation in such country is founded by a legal person or a natural entity that is capable of making a declaration about an establishment in writing. One can make the declaration by will or an initial property endowment worth 10,000 USD too.
Simple & Discreet
As mentioned previously, the formalities for creating an Anguilla foundation is predominantly simple and discreet. The procedure is controlled by the Common Law Jurisdictions. All that is needed for an immediate transfer or execution would be a trustable instrument, which is capable of setting the terms and conditions for the trust. Also, the trustable instrument should be able to transfer funds and make payments in a timely order. Apart from these rules, foundation in Anguilla doesn’t comprise of any other formalities.
Compliances and Formalities
According to experts, Anguilla foundation revolves around compliances and not around formalities. This is what makes the foundation very simple and easy to understand. The foundation doesn’t demand for additional articles or documents. Above all, you are not expected to include provisions in the declaration of establishment too. These are optional factors that can be included in the By-laws or as separate articles.
Foundation and Acts
When you start an Anguilla foundation, it must end with the term “Foundation” (abbreviated as fdn). Foreigners can replace the word foundation with an equivalent term from their language. The name of the foundation should not be same as other legal entities that are reserved, registered or deposited. Likewise, the name should not be prohibited by the standard Anguilla foundation Act. At all times, the Foundation in Anguilla should be deposited or registered. If it is deposited, high levels of confidentiality would be maintained. On the other hand, if it is registered the foundation would be rendered as public. In most cases, foundations that are meant for asset protection or estate planning are identified as deposited. If the real estate or asset has commercial purposes, it should be registered separately. Once registered, the foundation has to abide to all the requirements of the Act.