Page 116 - Caribbean-Central America Profile 2018

SINT MAARTEN

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

Official Name: Sint Maarten
Capital: Philipsburg
Nationality: Dutch Antillean(s)
SINT MAARTEN
Official Language: Dutch
Population Total (millions): 0.04 (2016 est.)
Size: 186 square miles
Currency: Netherlands Antillean Guilder (ANG)
Internet Domain: .sx
International Dialling Code: +721
Electricity: 110 volt/60 cycles

COUNTRY OVERVIEW INVESTMENT INCENTIVES
q Sint Maarten is an island located The government of Sint Maarten seeks to further develop its primary industry- tourism; and equal
in the northeast Caribbean, focus is being placed on diversifying the economy. The government encourages investment from
approximately 300 km (186 miles) value-adding business in:
east of Puerto Rico. • Telecommunication
q Surrounded by thirty seven beaches, • Financial services sector
the island offers visitors a little • Marine industry
Dutch and a little French blended • Education
in two lively cultures sharing one
island. • Agricultural sector
q The capital is Philipsburg. GENERAL INCENTIVES
For all businesses the following fiscal incentives are available:
The economy of St. Maarten is based
almost entirely on tourism. It is • Accelerated depreciation (maximum 1/3 of the purchase value of business assets)
estimated that 85% of all employment is • Investment allowance of 8% of the total investments (new buildings, expansion and renovations
related directly and indirectly to tourism. 12%) annually for the first two fiscal years. The investment allowance cannot be applied to
In addition to tourism, the other major certain investments (e.g. land and the subsurface of buildings)
forms of economic activity are financial
services and trade with the neighbouring HOTELS AND TOURISM INDUSTRY INCENTIVES
islands. • Profit tax of 2 percent for a period of 5 to 11 years.
• Exemption from land tax.
• Exemption from personal income tax on dividends and other distributions derived from profits
already subject to the 2 percent tax, provided such distributions are made within two years of
when the related profits are earned.
To establish eligibility for these incentives, a hotel must make a minimum investment of ANG
1,000,000 (US$ 556,000) and create new permanent employment for at least five resident workers.
In addition, the enterprise must contribute toward broadening the economic base of the island.
Renovation In case of the renovation or upgrading of an existing hotel, the minimum investment
required is ANG 50,000.

TRADE AGREEMENTS AND INVESTMENT TREATIES
St. Maarten is a party to the following treaties and conventions with respect to intellectual property:
• Paris Convention for the Protection of Industrial Property
• Berne Convention for the Protection of Literary and Artistic Works
• Nice Agreement concerning the International Classification of Goods and Services for the
purposes of the registration of trademarks
• The World Trade Organization and the World Intellectual Property Organization (WIPO)
• Strasbourg Convention on the unification of certain points of substantive law on patents for invention
• Strasbourg Agreement concerning the international classification of patents

B-80 Caribbean-Central American Action