In Association with

CEG Limited, Anguilla, British West Indies

Issue 1
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News from Anguilla
January 2000. Issue 1

Happy New Year!

In the course of an investigation into a dubious investment offering (of which, more later), we were referred (by David Marchant, editor of the well-read and well-respected "Offshore Business News & Research"), on to the wonderful website of I.T.I Management in The Bahamas (at There we found a series of informative, witty, newsletters, often put out at monthly intervals. This has inspired us to do likewise. If you don’t wish to receive them please send an e-mail to . If, on the other hand, you want to expand the reader base, forward this attachment and ask the recipient to click At this point, we gratefully acknowledge the source of some of the content and text in this newsletter as being that of I.T.I and its Chairman, Roy Bouchier. We will be developing our own content over the coming issues. These will be sent out as e-mail attachments to present and prospective customers; individuals, companies and institutions having an academic or practical interest in the world of International Financial Services; company practitioners; and referrals form any of these groups. We welcome feedback, comments and corrections where appropriate, all of which will be published, although we would not normally disclose the identity of the sender unless specifically requested. Each newsletter, when composed in ":Word" has a target length of two or three pages – thus being easier on the reader’s time (as well as that of the composer!). They will be sent out at least every month. Their overall purpose is to improve communications and disseminate news. Many changes are taking place in the International Financial Services sector, not just in Anguilla, but world-wide; for example, you may have read that of the many initiatives, which some perceive as threats, coming from supra-national bodies like the United Nations, G7, the OECD, and the EU. We will be looking at each of these in subsequent issues. On the other hand, we are often approached – or even recommended by some of our contacts & correspondents - to participate in what can be best described as "too good to be true" schemes (or scams). So, as we come across them, we’ll report on them, naming the players and the scammers, and the sources of our information.

A New What?

We hope that you survived in body and spirit the transition from 1999 to 2000. Most people in Anguilla celebrated in the traditional way, going to midnight church services or to parties; therefore some awoke with "millennium" hangovers and some did not. Like the rest of the world, we breathed a big sigh of relief when, amid the rockets, flares and fireworks we noticed that the street-lights stayed on as we slipped over the abyss. So no problems there – ditto telecomms, airport, water, hospital and nuclear arsenal (oops! There goes the State Secret!).Celebrations aside, our foot is in the camp which says that the recent festivities did not mark the Millennium (that’s at the end of 2000, so better go and buy more champagne). None of the dire predictions of computer meltdown causing ATM machines to explode and old ladies to become trapped in elevators appear to have occurred and the world is left wondering if the expense of the Y2K precautions were really worthwhile! The biggest beneficiaries were probably the computer genii whose lack of foresight was responsible for the problem in the first place and who then hit the jackpot putting it right. Which all goes to show the value of planning ahead correctly – a value which can be accurately described as being paramount to the success of "going offshore". Forward financial planning is essential if you are going to make your leap offshore both rewarding and legal. This will be a theme of our newsletters which will touch on issues such as security, privacy and substantial tax-savings within a framework that is perfectly legal and acceptable to the taxman (who cannot be ignored). Remember: there really is no free lunch – but there are legal ways to make lunch more satisfying; it is up to you to make sure that your proposals and intentions have been vetted by a competent tax professional familiar with the fiscal laws of your territory.

Anguilla News

An excellent source of current news on Anguilla can be found at Bob Green’s site, and the current issue covers the period over the last few days of 1999 and the beginning of 2000, including end of year parties, new hotels opening, and post-Lenny reconstruction. Needless to say, we had the traditional dearth of snow! There is also a new restaurant guide, at for those who wish to see what they are missing. Some restaurants cater for take-outs; so epicurean meals by FedEx can’t be far away!

One or Two Points

Sometimes we are asked by prospective clients to perform functions beyond our ability or inclination! Although we would have thought that these points were self-evident they may be worth re-iterating.

  1. We and the bank must know who you are and have supporting documents in the form of letters of reference, utility bills etc.
  2. Details such as the source of your funds and the object of any business you propose to operate from offshore must be made available to us. Under the laws of Anguilla, this information is strictly confidential.
  3. You can’t open a bank account without money! This may seem obvious but we’re often asked to obtain an account number on the basis that funds will be "coming soon". It doesn’t work that way.
  4. We do not form a company (no matter how much we like you) until we have cash in our hands! Much as we would like to be a charitable organisation the economics of life (and our bank account) render this impossible.
  5. Unless you have a fully managed company with us (and have paid for it), our services are limited to providing you with the company documents, seal and a Registered Office and Registered Agent. Nothing else is included and, in other words, you’re on your own!
  6. As a matter of course and principle, and in accordance with trade custom, if funds are in a managed account when the annual fees are prepared and compiled, they will be applied to the amount due. This is a convenience to all parties.
  7. If you don’t pay your annual fees on time, you may lose your company. It will be "in default" which will also mean that any bank or brokerage accounts may be frozen since they are predicated on the company being in good standing. The cost of getting it restored, incurring penalties etc. can be high and is always avoidable.

Dubious Investment Offering – The Return of "The Global Gypsy"

Here is more on the dubious investment offering which sparked this newsletter and, although we received the correspondence referred to below, additional background comments are from Roy Bouchier who has past experience of the individual concerned and has subsequently commented on some of the quirks thrown up in our correspondence. "If at first you don’t succeed……….This must be the motto of Mr. (sorry, Dr.) Keem Kalfon, self-styled global gypsy and mastermind behind the now defunct Networktool operation that succeeded in parting a good many citizens from their hard earned cash. We are indebted to Mr. Graham Crabtree of C.E.G. Ltd., Company Formation and Management Services in Anguilla who has received the following outstanding offer from the good Doctor.

Global Heritage Asset Protection Ltd PO Box CB 13352 - Nassau Bahamas
International Voice/Fax: +41 1 274 2715

I hope you and yours are well. At this time I wish to interest you in a unique no risk financial product for your clients.

This product was designed as a strong alternative for high net worth individuals and entities who have to play the stock market with the objective to gain 10-15% a year, while taking the risk of also loosing 10-15% a year on their capital.

Since its inception 18 months ago this product has attracted charity foundations and pension funds from small and medium sized companies as it meets their conservative investment criteria. The features are as follows:

Minimum entry US$100,000 for a duration of 1 year (renewable)

Capital is secured by a major USA financial institution (US$140 billion strong)

An investor receives fees in 12 monthly payments @ 12.6% apr.

For funds over US$200,000 a higher percentage fee will be negotiated for the investor

Investors funds are protected with specific documents

This product is not available to the general public

Global Heritage Asset Protection is one of a handful of facilitators authorized to introduce participants to the product by invitation only

As an introducer, your fee will be 5.31% apr

It is the only product that I have found in a long time that offers both SECURED CAPITAL and a WELL ABOVE AVERAGE FIXED INCOME STREAM for a low minimum entry. Being such a low minimum, these two factors are an investors dream.

Please advise your level of interest. I can then forward to you the generic documents for your evaluation.

Stay Well, At Your Service

Dr. Keem Kalfon


We last saw Dr. Kalfon at the Shorex Exhibition in London when he arrived in a new Bentley. Presumably the payments are now due! His exact location seems a bit hazy with a mailbox in The Bahamas and a phone # in Zurich. We’ll be checking – meanwhile we suggest you restrain yourself from taking him up on his offer."General observation – there are plenty of people out there ready to part fools from their money, and the use of e-mail and web-sites has been a boon for them.

Update, Please

Please let us have any change in your address, phone, fax or E-Mail so that we may update our records.

Public Holidays in Anguilla for 2000

Since the holidays we celebrate in Anguilla differ a bit from those elsewhere it's as well to check before setting sail lest you find that, on arrival, things are shut up tighter than a clam! Don't expect to find anybody home if you show up on:-

  • Good Friday (21 April 2000)
  • Easter Monday (24 April 2000)
  • Labour Day (first Monday in May; 1 May 2000)
  • Anguilla Day (Tuesday 30 May 2000)
  • Whit Monday (seven weeks after Easter; Monday 12 June 2000)
  • Queen’s Birthday (Tentatively, Monday 12 June 2000) [ possible that this one may be re-arranged ]
  • Caricom Day (Monday 3 July 2000)
  • August Monday (first Monday in August; 7 August 2000)*
  • August Thursday (10 August 2000)*
  • Constitution Day (Friday, 11 August 2000)*
  • Separation Day (Tuesday 19 December 2000)
  • Christmas Day (Monday 25 December 2000)
  • Boxing Day (Tuesday 26 December 2000)
  • New Year's Day (was celebrated on Monday 3 January 2000; will be celebrated on Monday 1 January 2001).

* Carnival/Anguilla Summer Festival Week. Banks and stores are closed on holidays. If in doubt - call us.

Another One To Watch - The Kingdom of Enenkio

Again the source and text are lifted from Roy Bouchier/I.T.I."Apropos the above, Jay Adkisson of First American Legal Corporation has received an E-Mail from Mr. Robert Moore, Minister Plenipotentiary, Kingdom of EnenKio Foreign Trade Mission protesting that he should prove that he is not an agent of the US government in view of his criticism of the claim of Enenkio to be an independent sovereign state. Personally we agree with Jay that their claim is spurious but more importantly would hesitate to do business with a nation whose Minister Plenipotentiary has such a shaky command of the English language!

-----Original Message-----
From: Robert Moore
Subject: EnenKio Kingdom - STOP,Scams by United States spooks and agents.
If you can't prove facts you are a spook or A United States Agent. STOP blaming MEDIA ON STATE DEPT. Scamers disinformation.
Thenk You
Robert Moore, Minister Plenipotentiary, Kingdom of EnenKio Foreign Trade Mission

Jay’s response is below:

FROM: Jay D. Adkisson, Esq.
The Adkisson Analysis
DATE: 24 December 1999
For future reference, "Scamers" is correctly spelled "Scammers" and "Thenk" is correctly spelled "Thank".
And a website does not a country make.
Also, if you are going to accuse me of being an agent of the U.S. government please provide me with evidence of the same so that I can make an application for federal employee benefits and salary. I would be most grateful for this.
Yours,-- JDA
P.S. -- Is "His Majesty" still on the bottle?

We will be highlighting more of the same over the next few issues and will be giving a few tips and pointers. As a general observation, nobody in their right mind should consider sending a cent to these sort of people, however tempting the returns seem to be and however secure they claim your capital is. Usually, it isn't!

Finally We’re going to be taking down our web-site over the course of the next few weeks and updating it/making it easier to read. Till next time…… Graham


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İMMI  C.E.G. Limited. CEG Ltd. is Licensed by the Government of Anguilla as a Registered Agent under the Company Management Act, 2000

This information has been prepared by C.E.G. Ltd. for the benefit of those who may be considering using Anguilla as a fiscal jurisdiction for international, financial or commercial transactions, or investing in the island. This web site is by no means enough in itself as a basis for decisions but rather designed to be an outline of the administrative and legal environment for such businesses. Before taking action on any business or other decisions related to Anguilla, precise and particular advice should be obtained from taxation, legal, accountancy and other relevant professional advisors both in Anguilla and in your home jurisdiction. As information is subject to change, you are urged to consult with us as well as your professional advisors before concluding any business decisions. We look forward to assisting you regarding any of the professional services you may require.