offshore banking in Anjouan

Anjouan Corporate Service is the only authorised agent appointed by the Legislative Assembly of the Anjouan Offshore Finance Authority for the marketing of all licenses the Anjouan OFA issues all offshore banking Licenses, On Line gaming Licenses, offshore Insurance Licenses, brokerage Licenses & Foundations as well as Anjouan International business companies (IBC).

The Autonomous Island of Anjouan offers the highest standards at all times. The Anjouan offshore centre ensures our customers' objectives are met in an expert and efficient manner for all offshore banking Licenses, On Line gaming License, offshore Insurance License & Foundations. To obtain a License all clients will have to complete an application form and an IBC will be issued a license will then be granted to the IBC assuming all criteria are met.

Offshore banks in Anjouan

Anjouan has licensed more than 300 offshore banks.

Island does not require applicants for banking licenses to appear in person to obtain their licenses. Anjouan required only two documents (a copy of the applicant's passport, and a certificate from a local police department certifying the lack of a criminal record) to obtain an offshore license and accepted faxed copies of the required documents.

Offshore banking licenses

Anjouan Offshore Banks. This new banking license offshore jurisdiction, situated in the Mozambique Channel in the Indian Ocean, provides clients with International business companies, Banking Licenses and offshore services. Anjouan is set to become one of the leading banking license offshore centres in the world.

What is a general banking license class A

It is understood in a majority of jurisdictions as a license for the providing of banking services at the place of registration or international bank services for the public. The bank acts as any other banking entity; it can accept deposits from the public and performs common bank services with residents or non-residents. In an overwhelming majority of countries, however, the activity is limited to providing services to non-residents, i.e. offshore banking services only. This type of offshore banking is established in view of providing commercial bank services in an offshore regime.

What is a restrictive banking license class B

Is a license, which limits territorial activities of the bank, possibility of providing services in foreign currencies or to certain persons. In a majority of cases, the bank cannot accept deposits from the public and it can provide its services only to those entities, which are provided for in the bank license. This bank is used as the so-called corporate bank for active Cash Flow management.

Banking

Class B banking licenses are the only type of offshore banking license granted on the island of Anjouan . This is a full-unrestricted banking license. Class A banking Licenses being reserved for Anjouan onshore banks. The National Bank of Anjouan has certain requirements to be satisfied by all offshore banks, namely;

• A reserve of USD 100,000 is required, which may either be in the form of an irrevocable guarantee from a foreign bank that is approved by the National Bank of Anjouan or in the form of a deposit at the National Bank of Anjouan both types of banking license may be granted to international companies

• Obtaining a banking license is a relatively quick process due to the lack of bureaucracy. Approval can be granted swiftly providing the necessary due diligence requirements are met.

• There are no requirements for local offices or employees, however local companies in Anjouan can provide representative offices. Correspondent accounts can sometimes be arranged depending on the strict due diligence and subject to negotiable fees and due diligence. Offshore offices are now also available in Anjouan with French, English and Arabic speaking secretaries.

• Timescale: 6-8 weeks but it does take approximately 1 week more for documents to arrive from Andorra.

Banking Law

The key features of the Law are as follows:




• The Law establishes a licensing regime for banks and savings institutions; the National Bank of Anjouan or the Offshore Finance Authority can issue banking licenses. 'A' Licenses are for banks with physical branches in Anjouan and offering services both internationally and domestically; 'B' licenses are for offshore banking only.

• The Anjouan Offshore Finance Authority can specify the minimum capital required for a bank.

• A Bank must inform the Anjouan Offshore Finance Authority about any change in its share ownership.

• A number of rules govern prudential and fiduciary aspects of bank operations, although they are mostly subject to variation at the behest of the Anjouan Offshore Finance Authority.

• here are reporting requirements, but they apply mostly to 'A' license banks.

• There are rules dealing with the supervisory regime of the National Bank of Anjouan; again, these mostly apply to 'A' license banks.

• Banks with existing licenses need to re-apply annually.

• The Law does not contain any Islamic (shari'a) banking rules.

Legal Structure

The Anjouan offshore banking laws, which were passed in February 2005, have been structured to be modern and flexible and are based on years of close study of the experiences of other offshore centres around the world. With extremely high due diligence standards, the right conditions for a friendly and hassle free business environment exist. It is necessary to obtain positive identification of company owners for central registry records, a task that is not implemented in major jurisdictions. This will eradicate many of the problems that similar haven nations have experienced over the years.

Profit

All banks, whether foreign or domestic, borrows monies from their depositors at a lower interest rate and lend them in turn to their borrowers at a higher interest rate. The proprietors of a private international bank receive money not only from the depositors, but also generate their profit from the possibilities of handling the cash which is available to banks only

Privacy

Strict laws concerning bank confidentiality in the host countries protect the interests of financial institutions from unauthorised probes of governmental agencies, tax officers, persons with legal claims or aggressive corporate competitors. A private international bank provides protection from financial break-through attempts which are quite usual in the domestic banking sector.

Tax protection

International financial centres have acquired the goodwill of legal tax heavens. Since the host countries tax the incomes resulting from international activities of qualified banks at a low rate - possibly they do not tax it at all - a private international bank can protect dividends, interest and managerial fees of its proprietor from levies in favour of tax authorities of the country where the proprietor is resident or citizen.

Ownership

Ownership of an offshore bank is burdened by minimum bureaucratic requirements. It is possible to own a private international bank at a surprisingly low price, and the proprietor of the bank furthermore does not need a number of bank authorisations, as it is in the case for continental onshore jurisdictions. In most cases a sufficient qualification is represented by a formed experience in this sector or good bank references and a business plan, which will convince the authorities of the host country about your honest business activities.

Asset protection

The assets deposited into your own private international bank are immune against all judgements and judicial orders of forfeiture or other tasks, issued in your home country.