First Anguilla Trust Company ("First Anguilla") was established in 1995 and is wholly owned by the partners of Webster Dyrud Mitchell. It is licensed under the Trust Companies and Offshore Banking Act for the provision of both trust and corporate services, and provides a comprehensive financial management and administration service to a worldwide clientele of high net worth individuals, corporate entities and intermediaries.
From a small beginning, First Anguilla has grown to be one of the largest trust companies on Anguilla and provides a comprehensive range of financial services, including formation and administration services for trusts and companies (including ABCs, IBCs, LLCs, LPs and PCCs, as well as captive and other insurance companies and mutual funds).
In addition, First Anguilla provides a wide range of supplementary services, including accounting, investment management and private banking, and the provision of registered office and registered agent facilities to Overseas Agents and to Company Managers registering to do business in Anguilla.
As well as being one of the foremost service providers on the island, First Anguilla is prominent in promoting the financial sector and in assisting in the promotion and drafting of new legislation through its close involvement in the Anguilla Financial Services Association.
The senior staff at First Anguilla are highly experienced and qualified, with many years' experience both in Anguilla and in other offshore jurisdictions. They can also call on the services and experience of the lawyers at Webster Dyrud Mitchell to advise clients of the trust company. This enables First Anguilla to provide a modern, flexible, comprehensive and efficient service to its clients, backed by a wealth of practical experience and legal expertise in all aspects of financial planning, management and administration.
As the financial services industry develops, First Anguilla has the capability to provide expert management, control and administration of innovative structures, including all types of Special Purpose Vehicles (SPVs), and we confidently expect that this capability will shortly extend to the provision of civil law family foundations. A draft Act making provision for such vehicles has been in preparation for some time and we hope that it will be enacted in the first half of 2007. First Anguilla's expertise in the area of corporate administration extends to structured finance and securitisation, collateralized debt obligation transactions ("CDOs"), repackaging, note and paper programmes, and ship and other asset financing. First Anguilla, through an affiliate, can also offer clients a variety of investment options.
Like all service providers in Anguilla, First Anguilla uses the ACORN system for online incorporations, filings and other administrative functions. This enables incorporations to be completed almost instantaneously, subject of course to the provision of the required due diligence information.