Anguilla signs MOU for new residency agency

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Chief Minister Victor Banks (L) with Eric Major

THE VALLEY, Anguilla — The government of Anguilla has signed a memorandum of understanding with a consortium of two firms in the investment migration industry to establish a new agency designed to attract high-value residents to its shores, primarily through a residence-by-investment programme and a new tax residency programme.

Anguilla’s chief minister and minister of finance, Victor Banks, said, “The government is happy to be involved with Latitude Consultancy and Arton Capital in moving this initiative forward and we are very fortunate to partner with them in this enterprise. They are the experts and have knowledge of the players and small economies like Anguilla which cannot survive without foreign direct investment of one kind or the other.”

According to Eric Major, founder of Latitude Consultancy, “With the help of the consortium, the government will be establishing a new promotional agency that aims to attract foreign direct investments to the country, primarily by encouraging ultra-high net worth (UHNW) individuals and families to establish residency in Anguilla. However, it is not just about attracting money to Anguilla, but also those individuals who have the global networks and business acumen that can bring important ancillary benefits which are so highly desired. Once the promotional agency is up and running early next year, we will be ready to promote Anguilla internationally.”

Armand Arton, founder of Arton Capital, noted that “Competition is high, but we believe Anguilla can offer an attractive proposition that caters to a niche-market of ultra-high net worth individuals”.

Tax residency will be one of the new agency’s primary offerings and will be tailored for those UHNW clients looking for compliant and tax efficient solutions in a complex world of tax rules and regulations.

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