The creation of an offshore centre

In April 2003 the Anjouan Government decided to create an offshore sector. New Legislation, regulations, acts and regulations were specifically written for Anjouan. The Government of Anjouan passed these new laws and Legislation in February 2005 enabling Anjouan to create a superior offshore sector, which provides the right environment for economic development and direct foreign investment. Under these new offshore laws of Anjouan , provision was made for licenses to be granted for OffShore International business companies ( IBCs ) as well as offshore Banking, Internet gaming, Insurance & Brokerage Licenses, as well as Mutual Funds, Trusts, Shipping and Aviation Licenses. By providing the correct conditions for the creation of an offshore sector , the Anjouan Government's second aim was, and still is, to encourage foreign enterprises to have a physical presence on the island. This is more often referred to as ‘phase two' of the Anjouan Offshore Centre.

The Anjouan offshore laws and Legislation have been structured in such a way as to be modern and flexible, based on study of the experiences of other offshore centres over the past forty years. There is an emphasis on implementing high due diligence standards and this in turn creates a business-friendly, liberal and stress- free regulatory environment.

The Anjouan regime and Constitution was changed in 2002, which gave President Bacar total power to deal with the domain of all offshore business. As head of the Anjouan Government and head of State, President Bacar, together with the Government of Anjouan and the Legislative Assembly elected to appoint Anjouan Corporate Services Ltd as exclusive registered agent for all offshore services. The Finance Minister Mr Abdoulbastoi ( who is now Governor of the Comoros Central bank ) confirmed these appointments on the 11 th December 2004 ( http://www.anjouangov.com/467e.pdf ).

The new constitution clarifies Anjouan's status as an autonomous island within the new Union of Comoros. The government of the State of Anjouan has full control over economic development and foreign investment and this is stated in Article 10 of the new Anjouan constitution.

Anjouan is also positioned on strategic shipping routes and it's deep water harbour in the capital of Anjouan, Mutsamudu, enables large container ships and cargo liners to dock, making it very attractive for potential investors.

The Anjouan law states that companies registering or licensing in Anjouan must appoint a local Anjouan representative or registered agent, who in turn must have the specific authorisation to engage in such business. Anjouan Corporate Services Limited is the only registered agent of the island.

All companies registering their companies in Anjouan may also have their own offices in Mutsamudu with trained staff who speak English, French and Aribic.