Anguilla values its well-earned reputation as a law-abiding and well-regulated jurisdiction, with a
favorable business climate. Strict provisions have been enacted to guarantee the confidentiality of sensitive business records.
Anguilla's Confidential Relationships Ordinance 1981 (updated again in 1998 with a newer supporting Ordinance) is a mirror to Montserrat's Confidential Information Ordinance, 1985. (see Montserrat's Ordinance, 1985 - below)
The Confidential Relationships Ordinance 1981 provides stringent penalties for the improper release of confidential information, whether by private individuals or public officials. The Ordinance does not protect against inquiry with respect to criminal activity considered a serious offence in Anguilla. The governments of Anguilla and the United States have ratified a mutual legal assistance treaty that extends the exchange of information between them regarding activities considered criminal in both jurisdictions. The treaty is aimed specifically at keeping Anguilla free of the drug-related and money-laundering taint that has afflicted some other jurisdictions.
As the island has neither income tax nor currency exchange regulations, foreign currency and tax offences cannot be investigated in Anguilla. There are no tax treaties between Anguilla and any foreign country and, unlike many of its competitors, Anguilla does not have agreements with any
country to share fiscal information.
Anguilla's Confidential Relationships Ordinance 1981 was reinforced as recently as 1998, and banking confidentiality is respected in this Caribbean tax haven like the Cayman Islands and the British Virgin Islands.
Just one hundred and fifty miles east of Puerto Rico and close to the Virgin Islands, Anguilla is famous for its pristine beaches, abundant marine life, fine dining, and world-class hotels. Only six miles north of the French/Dutch island of St. Martin/St. Maarten, Anguilla enjoys through its neighbors regularly scheduled links serviced by several major airlines, including KLM, Lufthansa, Air France,
British Airways, and American Airlines. International direct dialing 264 + 497 + four digits provides immediate telephone or facsimile contact.
In April 1993, the Mokoro Report identified the financial services sector as a principal adjunct to
Anguilla's tourist-based economy. Adopting that Report, the Anguillian and British governments embarked upon a thorough review and rewriting of the island's financial services legislation. The
extensive legislation enacted in January of 1995 is the result.
In the case of an international business company, articles of incorporation need only contain the company's and incorporator's names, the registered office and agent, and essential details as to the nature, but not the ownership, of the company's shares. We have an office in Anguilla, and we provide all of the above services. Call me at 242-327-7359 with your questions. - 9AM to 5PM - New York time zone is best.
Thomas Azzara
New Providence Estate Planners, Ltd.
(Consultants)
54 Sandyport Drive
P.O. Box CB 11552
Nassau, Bahamas
Fax/phone: (242) 327-7359
email: taxman@batelnet.bs
website: http://www.bahamasbahamas.com/
I provide clients with bank contacts and application information for good banks in the following jurisdictions: Isle of Man (a major institution) + Anguilla (2 banks there - one used by the Anguilla government) + Bermuda (one of oldest banking institutions in offshore world) .
Years ago - one Swiss banker with banks in Cayman and Switzerland told me two summers ago that they always do their companies in a different jurisdiction from where the company does its banking. This is good advice, but illegal activities will not be tolerated by any reputable offshore banks.
Montserrat has been rocked by volcanic eruptions since the 1990's, and is not currently the best financial center to consider, but it's "Confidentiality Ordinance has been a "model" for the Eastern Caribbean nations.
Montserrat's Confidential Information Ordinance, 1985
AN ORDINANCE TO REGULATE THE DIVULGENCE OF INFORMATION IMPARTED UNDER CONDITIONS OF PROFESSIONAL CONFIDENCE.
BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council of Montserrat and by the authority of the same as follows:
2. In this Ordinance, unless the context otherwise requires: "bank" and "financial institution" and "International Business Companies" have the meanings respectively ascribed to those terms by section 2 of the Banking Ordinance, 1978, and section 5 of the International Business Companies Ordinance, 1985, No. 19 of 1985;
"Confidential information" means information received by a professional person from or in respect of a principal concerning any property in which the principal has an interest and which the recipient of such information is not authorized by the principal to divulge;
"divulge" means without the authority of the principal express or implied, to disclose or communicate to any person not entitled to such disclosure or communication and includes unauthorized communications to persons at large;
"normal course of business" means the ordinary and necessary routine involved in the efficient carrying out of the instructions of a principal, including compliance with all relevant laws and legal procedures and the routine exchange of information between financial institutions and/or International Business Companies;
"principal" means a person who employs or instructs a professional person in the normal course of business matters relating to any property of the principal;
"professional person" means a bank or other financial institution, a barrister or solicitor, an accountant and every person subordinate or in the employ or control of such person or institution for the purpose of his or its professional activities;
"property" means every present, contingent and future interest or claim, direct or indirect, legal or equitable, positive or negative, in any money's worth, or any real or personal property (movable or immovable), and all rights and securities thereover and all documents and things evidencing the same or related thereto;
3. (1) Subject to subsection (2), this Ordinance shall apply to all confidential information as defined in this Ordinance which originates in or is brought into the Colony and to all persons coming into possession of such information, whether professional persons or not.
(2) This Ordinance shall not apply to the seeking, divulging or obtaining of confidential information -
(a) in compliance with directions of the High Court given in accordance with the provisions of section 4;
(b) by or to a professional person acting in the normal course of business or with the consent, express or implied of the relevant principal;
(c) by or to a police officer of the rank of Inspector or above investigating an offence committed or alleged to a have been committed within the Colony;
(d) by or to the Minister responsible for finance, the Financial Secretary, or the Attorney General;
(e) generally, in accordance with the provisions of this or any other Ordinance;
4. (1) Whenever a person intends or is required to give in evidence in, or in connection with any proceeding being tried, inquired into or determined by any court, tribunal or other authority, and confidential information within the meaning of this Ordinance, he shall before doing so apply for directions and any adjournment necessary for that purpose shall be granted.
(2) An application for directions under subsection (1) shall be made to and heard and determined by, a Judge of the High Court sitting alone and in camera. At least seven days' notice of such application shall be given to the Attorney General who is a party to the proceedings in question. The Attorney General may appear as amicus curiae at the hearing of the application and any party on whom notice has been served as aforesaid shall be entitled to be heard thereon, either in person or by counsel.
3) Upon hearing an application under subsections (1) and (2) the Judge shall direct -
(a) that the evidence be given; or
(b) that the evidence not be given; or
(c) that the evidence be given subject to conditions to be specified by him whereby the confidentiality of the information will be safeguarded.
(4) In order to safeguard the confidentiality of evidence ordered to be given under subsection (3)(1) a Judge may order one or more of the following;
(a) that divulgence of evidence be restricted to certain named persons;
(b) that the evidence be taken in camera;
(c) that reference to names, addresses and descriptions of particular persons be by alphabetical letters, numbers or symbols representing such person, the key to which shall be restricted to persons named by the judge.
5. (1) Subject to the provisions of section 3 (2), and person who -
(a) being in possession of confidential information however obtained -
(i) divulges it; or
(ii) attempts, offers or threatens to divulge it;
(b) willfully obtains or seeks to obtain confidential information to which he is not entitled,
shall be guilty of an offence and liable on summary convictions to a fine not exceeding $50,000 or to imprisonment not exceeding 2 years or to both such fine and such imprisonment.
(2) Any person who commits an offence under subsection (1) and receives or solicits on behalf of himself or another person in the course of such offence any reward from any person shall be liable to a further fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both such fine and such imprisonment and also to forfeiture of the reward if it was received by him.
(3) Any person in possession of confidential information who without the consent of the principal makes use thereof for the benefit of himself or another shall be guilty of an offence and liable on summary conviction to the penalty prescribed in subsection (2) and for that purpose any profit accruing to such person out of such transaction shall be deemed to be a reward.
(4) Any professional person, entrusted as such with confidential information, who commits an offence under subsection (1), (2) or (3) in respect of such information shall be liable to double the penalty prescribed in each of those subsections respectively.
(5) Subject to the provisions of section 3(2), any bank which gives a credit reference in respect of a customer without the express authority of such customer shall be guilty of an offence under subsections (1) and (4) hereof;
(6) Every person who receives confidential information by virtue of the provisions of subsection 4(2) shall be as fully bound by the other provisions of this Ordinance as if such information were entrusted to him in confidence by the principal.
6. The Governor-in-Council may make regulations for the administration of this Ordinance.
7. No prosecution may be instituted under this Ordinance without the express consent in writing of the Attorney General.
8. The Confidential Information Ordinance, 1980 is hereby repealed.
H.A. FERGUS (Speaker)
Passed the Legislative Council this 19th day of December, 1985.
E.R. Kirnon Ag. Clerk of the Council