Anguilla, British West Indies

Anguilla is a British Overseas Territory and is an island nation that forms part of the British West Indies.

Anguilla was first settled in 1650 and was administered as part of the Leeward Islands by the Captain General and Governor-in-Chief residing in Antigua. Anguilla had its own Lieutenant or Deputy Governor with a local council or assembly.

Britain introduced the ministerial system of government, and political parties, in 1976 that replaced the elected Island Council formed during the secession days (1967-1976). There are seven elected, one ex-officio and two nominated members, plus a Speaker and a Deputy Speaker in the Legislative Assembly, which runs for a term of five years. Anguilla has a Governor and Deputy Governor (both British) whose responsibilities include public order, good government, civil service, and the international financial sector.

Anguilla has long been highly regarded as a financial center, striving to be a leader in "Anti-Money Laundering" and "Know Your Customer" compliance and has cooperated fully with the Financial Action Task Force.

Fidelity Insurance Company, Ltd. (Fidelity) policies conform to the laws of Anguilla, which require that all assets relating to variable annuity and life insurance products be held in segregated asset accounts, which are separate from Fidelity’s general assets. Under Anguillan law, no creditor of either Fidelity, any stockholder, or any other policy owner, can adversely impact the segregated account of a policyholder. The account is comprised of individual sub-funds meeting the diversification requirements of U.S. Internal Revenue Code Section, 817(h), which are directed by independent investment managers. Since the sub-funds are in segregated accounts, directed by an investment manager, the performance of the sub-fund and the policies are solely the responsibility of the independent investment manager.

The government is pro-business, having established a growth-oriented tax system based on consumption, not income, thus rewarding productive behavior. There are no taxes on savings and investments and there is no sales tax, income tax, profits tax, capital gains tax, or inheritance tax on its citizens or corporations.

Anguilla employs both the U.S. dollar and the EC dollar in local commerce, without exchange controls. Anguilla has more foreign currency deposits than any other OECS state. Banks use the required "Know Your Customer" rules to avoid money laundering.

Anguilla, along with Hong Kong, New Zealand, and Chile, has shown that small places can prosper. In the 30 years since Anguilla separated from St. Kitts/Nevis, Anguilla's people have built a successful, productive economy, and now attract people and businesses from all over the world.

Anguilla is an island with a tourism-based economy. The island has world-class hotels and restaurants, boasting more gourmet restaurants per acre than New York City. The island offers a wide variety of activities, including diving, parasailing, windsurfing, boating, fishing, tennis, and horseback riding.

To find out more please contact us:

Email: clientserv@fidinsco.com

The Law Building
PO Box 14, The Valley
Anguilla, British West Indies

Phone:   264- 497-0484

Fax:   264- 497-5753