ANGUILLA’S COMMERCIAL REGISTRY

PRESENTATION10 Years & beyond

Commercial RegistryREGISTRY BACKGROUND & RECENT DEVELOPMENTS:Presented by Lanston Connor, Registrar ofCommercial Activities

REGISTRY PERFORMANCE & FUTURE DEVELOPMENTS:Presented by Ketsia Harrigan, Deputy

Registrar

Mission StatementOur mission is to continuously promote Anguilla as an industry leader in the provision of a 24-hour online company registration and related services. We aim to provide these services in the most efficient and timely manner through our ACORN system and our highly trained and motivated staff.

COMMERCIAL REGISTRYPreviously known as the Financial Services

Department

Administrators of: Companies, Trademarks, Patents, Intellectual Properties, Trade Union and Foundations Acts.

Department incorporated in the Ministry of Finance

Consists of (7) seven staff members

Home of the one & only, ACORN

COMMERCIAL REGISTRYDepartment within the Ministry of Finance

Headed by the Registrar of Commercial Activities. (Statutory position)

Regulated by FSC with regards to regulated

sectors. ie Companies & Foundations & MOF with departmental administration

Organizational ChartMinistry of Finance

Registrar of Commercial Activities

Intellectual Property Officer

Clerical OfficerACORN Administrative Assistant

Deputy Registrar

ACORN Administrative Officer

Fujitsu ICL

ACORN’s VisionOur vision is to use the latest technology to maintain the modernization of the commercial registration process. The future of ACORN will continue to be a successful one and all information will be made available to our clients in a proficient and resourceful manner.

Commercial Registry – Recent Developments

Licensing requirements to act as registered office /agent (Sec. 1) Company Management Act)

Bulk purchase Discount Policy

Foundations ACT

Licensing of ACORN (pending)

Statutory Body (pending)

Commercial RegistryBULK PURCHASE

OPTIONS AMOUNT UNIT COST INCORP PERIOD

A 100 $200 1 MONTH

B 250 $175 3 MONTHS

C 500 $125 6 MONTHS

D 750 $75 9 MONTHS

E 1000 $25 1 YEAR

Marketing Marketing Budget 2009 $300,000.00

Utilization of OT Group Status within industry.

Bulk purchase discounts

Bi Annual Road shows to Asia Europe and Central America.

Conferences: STEP, ITPA, AOA, CCLW, INTA, Heckerling, CICA, WCF, CCAA WOC

2009 C R Marketing plansHeckerling Conference in January

Road trip to ASIA in March CICA, AOA

STEP Conference in May

CCLW Conference in August

Road Trip to Asia in October AOA, WCF,WOC

CCAA Conference in December.

ACORN’s HighlightsYear 2007 2008

Revenue EC$6.1 MEC$6.1 M EC$6.5 MEC$6.5 M

Budget EC$1.4MEC$1.4M EC$1.5 MEC$1.5 M

ROI 308%308% 333.33%333.33%

Incorporations 2,6062,606 2,5022,502

Company Managers 6464 6666

Overseas Agents 102102 110110

Revenue Performance

$2,359,718.00$2,704,626.00

$3,116,203.75

$3,353,946.02

$3,334,173.00$3,474,221.37

$4,179,044.71

$5,030,545.61

$6,109,139.78

$6,557,965.27

$0.00

$1,000,000.00

$2,000,000.00

$3,000,000.00

$4,000,000.00

$5,000,000.00

$6,000,000.00

$7,000,000.00

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Revenue

* Projected

Financial Performance: RevenueYear / Month 2006 2007 2008

January $ 438,141.87 $ 443,362.13 $ 496,866.61

February $ 251,742.09 $ 445,261.69 $ 412,576.81

March $ 533,239.73 $ 668,009.41 $ 743,116.12

April $ 380,008.25 $ 436,034.29 $ 531,237.41

May $ 282,987.81 $ 396,177.79 $ 333,078.63

June $ 535,864.37 $ 740,919.93 $ 672,920.36

July $ 357,291.87 $ 419,988.93 $ 674,974.95

August $ 375,900.43 $ 313,808.35 $ 577,960.88

September $ 514,587.42 $ 545,721.73 $ 555,748.75

October $ 447,781.45 $ 509,442.68 $ 409,368.40

November $ 391,945.09 $ 432,289.92 $ 362,485.25

December $ 521,055.23 $ 758,122.93 $ 787,631.10

TOTAL REVENUE (EC$) $ 5,030,545.61 $ 6,109,139.78 $ 6,557,965.27

* Projected Revenue

Financial Performance – Revenue Breakdown

Financial Performance: Budget

Financial Performance: Budget Breakdown

Supplies & Materials 3%

International Travel &

Substinenece 10%

Personal Emoluments 23%

Advertising 20%

Professional & Consultant

Services 38%

Training

Local Travel & Subsistence

Allowances

Subscriptions, Periodicals & Books

Maintenance of Buildings

Communications Expenses

Wages

Supplies & Materials

International Travel & Subsistence

Personal Emoluments

Advertising

Professional & Consultant Services

Financial Performance: ROI

79.40%

92.06%

86.99%

137.41%

192.93%

214.09%

271.35%

308.56%

333.33%

0.00%

50.00%

100.00%

150.00%

200.00%

250.00%

300.00%

350.00%

FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 est.Fiscal Year

Operational PerformanceCompany Registrations

An average of (217) two-hundred & seventeen companies per month and (2,604) two thousand-six hundred & four companies per year

There’s an average monthly increase of 25%

There’s an average yearly increase of 18%

Total Yearly Incorporations by Type

Companies FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008

IBC 568 867 704 569 898 1734 2781 2140 2152

Overseas IBC 70 154 47 76 114 73 116 75 30

Domestic Companies

193 178 202 168 194 301 275 301 211

LLC 14 23 27 39 41 43 59 74 89

Other 17 16 7 8 9 19 23 16 20

Total 862 1238 987 860 1256 2170 3254 2606 2502

% Change   43.62% -20.27% -12.87% 46.05% 72.77% 49.95% -21.14% -2.49%

* Projected Incorporations

Operational Performance: Agent Overview

One Hundred & Ten (110) Overseas Agents from over 30 Countries in Total- There were Eight (8) OS Agents Registered in 2008

Sixty-Seven (67) Onshore Agents in Total– There were Three (3) Onshore Agents Registered in 2008

Top Performing Overseas Agents by Location

205

131

119

53

32

BVI

Taiwan

Hong Kong

Netherland Antilles

Hong Kong

Opportunities for ACORN Being relatively new to the industry, we are able to learn from the mistakes

of other jurisdictions and improve on their performances.

ACORN uniqueness and sophistication allows us to provide efficiency in corporate registrations which is second to none. We will need to maintain this advantage.

The government’s realization that the provision of financial services is a viable solution to the government’s wish to diversify the economy with little or no cost to the Islands infrastructure and natural resources.

Our willingness to be flexible in responding to industry needs as opposed to

the entrenched practices of other established jurisdictions.

The global acceptance of e-commerce as a viable means of doing business.

Our relationship with some of the world’s largest and most respected financial centers as a BOT.