Anguilla (AI)

Jurisdiction Overview

IDQuestionAnswer
234 *Are Private Foundations available? Yes
 Data Date: 2018

Notes

 
The Global Forum reports: "Foundations can be established in Anguilla under the Foundation Act. [...] A foundation can be established for any purpose(s) which are capable of fulfilment and are not unlawful, immoral or contrary to public policy (Sec. 5(1))" (GF 2014: 44). According to the Global Forum (2011):"The Foundations Act serve as an estate planning vehicle, which is a civil law concept and an alternative to the common law trust." (ibid.: 12). This was confirmed in 2018 by LexMundi: "The Anguilla Foundation is a hybrid entity, having the characteristics of both a corporation and a trust. Like a corporation, it is a separate legal entity that can buy and sell property, sue and be sued, enter into contracts and hold assets in its own name [...]" (LexMundi Anguilla Guide 2018: 24).

Sources

GF 2014: 12, 44
 
GF 2011: 11,34; OECD 2010: 238-244
 
Foundations Act, Section 5
 
https://anguillafinance.ai/wp-content/uploads/2017/12/FOUNDATION-ACT-CONSOLIDATED-2014.pdf
 
LexMundi Anguilla Guide 2018: 24.
 
https://www.lexmundi.com/Document.asp?DocID=3915