Anguilla Offshore Bank Account

anguilla offshore banking

The information provided below details the banking conditions of opening an Anguilla offshore bank account. It also includes details on the laws and regulations that govern the Anguilla banking system, as well as a list of financial institutions operating in Anguilla.



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The Anguilla Banking System

Financial and banking facilities fall under the Eastern Caribbean Central Bank Agreement Act and the Banking Act. The financial system is comprised of the commercial banks, insurance companies, development finance institutions and finance companies.

The ECCB is charged with regulating banking business on behalf of and in collaboration with the Government. The Banking Act gives responsibility for the financial system to the ECCB. The Minister of Finance has ultimate authority under the Act but is required to act in consultation with and on the recommendation of the ECCB, but in respect of the examination of banks and other financial institutions the ECCB has complete authority.

The banks operating in Anguilla are strict in their adherence to know your-customer rules in opening and maintaining Anguilla bank accounts.

Eastern Caribbean Central Bank

The Eastern Caribbean Central Bank (ECCB) was established in October 1983. It is the Monetary Authority for a group of eight island economies namely – Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines.

Domestic Banking

Domestic banks are licensed under the Banking Act. There are currently four domestic banks. Two of the domestic banks are of indigenous capital, National Bank of Anguilla and Caribbean Commercial Bank (Anguilla), and are testament to the strength of the Anguillian economy in that they are the two largest banks in terms of asset base. The other two banks are well known international banks, FirstCaribbean International Bank and Scotiabank.

Offshore Banking

Offshore banking licenses are granted under the Trust Companies and Offshore Banking Act (TCOBA). Under the TCOBA, a banking license is granted to applicants who are fit and proper and qualified to carry an offshore banking business.

Financial Services Commission

The Financial Services Commission was established by the enactment of the Financial Services Commission Act on 26th November 2003 and it commenced operations on 2nd February 2004. The creation of the Commission allows Anguilla to meet international standards in the structure and administration of its financial services regulatory body.

Financial Institutions Operating

Domestic:

  • Caribbean Commercial Bank (Anguilla) Limited
  • FirstCaribbean International Bank (Barbados) Limited
  • National Bank of Anguilla Limited
  • Scotiabank Anguilla Limited

Offshore:

  • Caribbean Commercial Investment Bank Ltd
  • Foreign Commerce Bank Limited
  • National Bank of Anguilla (Private Banking and Trust) Limited

Contact Us for further information regarding Anguilla offshore banking and Anguilla bank account opening.