Anguilla: Country and Foreign Investment
Anguilla is one of fourteen British Overseas Territories which, while under the jurisdiction and sovereignty of the United Kingdom, are not a part of the UK. Queen Elizabeth II, the British monarch, is the head of state and the country has a common law legal system based on British law, although power over domestic affairs is determined by a locally elected House of Assembly, currently led by Chief Minister Hubert Hughes.
Anguilla has recently made progress in developing its offshore financial sector, which is the country's main industry along with high-end tourism. It is now the fifth most popular jurisdiction for Captive Insurance and is becoming increasingly attractive for foreign direct investment.
Anguilla's official currency is the Eastern Caribbean dollar, though the US dollar is also commonly accepted. The Eastern Caribbean dollar has been pegged to the US dollar since 1976 at an exchange rate of US$1 = EC$2.70.
The development of Anguilla's Commercial Online Registration Network (ACORN) enables online company registration and management at any time and from anywhere in the world, reducing many costs associated with international finance.