Prospective applicants are encouraged to meet with the Commission to discuss their proposal before submitting their applications.
It is also expected that an applicant will appoint a Money Laundering Compliance Officer, Money Laundering Repotting Officer and Compliance Officer as required by sections 20 and 21 of the AML/CFT Regulations.
The application review process will include an assessment of the following:
validity of the documents submitted in support of the application and the personal questionnaire
financial condition and history of the Applicant;
nature of the business of the Applicant;
experience of the persons who are to constitute its management;
source of the initial capital;
convenience and needs of the community to be served by the granting of the licence;
the business plan of the applicant
the organization chart showing reporting lines and the group chart showing ownership
the ownership structure of the applicant (the ownership structure must be clear and transparent).
The timing
12-18 Months
Cost
25000 USD and more
The Anguilla Financial Services Commission is the regulatory authority responsible for overseeing and regulating the financial services industry in Anguilla. It ensures compliance with international financial standards and laws to safeguard the integrity of Anguilla's financial system, protect investors, and promote a stable and sound financial environment. The commission supervises a wide range of financial services, including banking, insurance, and investment services, to maintain public confidence and support economic growth.
