FAQ SHAREHOLDERS
These answers are specific to the Anguilla Business Company (ABC). They are not intended to be comprehensive nor to be construed as legal advice and should not be relied upon to be so. Professional advice should be taken based on the facts of any specific case.
SHAREHOLDERS & SHARES QUESTIONS
What are the minimum and maximum number of shareholders?
A Company may be formed without shareholders, although at least one shareholder will be required upon commencement of business to ensure limited liability. There is no maximum number of shareholders provided by the Act.
Is there a Minimum capital requirement to form a Company?
No.
Are shares issued at a particular value?
All shares are of no par value.
What Classes of share are available?
Share capital may be divided into different classes: preference, redeemable, treasury, etc. Bearer shares are not permitted.
What are the rules governing the Share Register?
Share register inspection is restricted to registered shareholders. Shareholders are required to be named in the Annual Return filed with the Registrar.
What Denomination can the share capital be issued in?
Share capital may be denominated in any currency approved by the Registrar of
Companies. All shares are of no par value.
Can an ABC purchase and redeem its shares?
An ABC may purchase and redeem its shares.
Are there any Capital taxes?
No.
Are there Residency requirements for Shareholders?
No.
What information must be published relating to shares and shareholders?
The company must keep a share register at the Registered Office. This is available for inspection by the members. The names, addresses and nationality of shareholders and the number of shares held by each of them are required to be disclosed in the Annual Return.
What are the provisions for Shareholders Meetings?
A shareholders meeting must be held once annually. However, this is a little different for the first year and the directors of a company can call the first annual meeting of shareholders as late as18 months after the company comes into existence.
A special meeting of shareholders can be called at any time provided the notice provisions are adhered to.
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