Page 37 - Caribbean-Central America Profile 2018

ANGUILLA

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

Official Name: Anguilla
Capital: The Valley
Nationality: Anguillan(s)
Official Language: English
Population Total (millions): 0.015 (2016 est)
Size: 35 square miles
ANGUILLA Currency: East Caribbean Dollar (XCD)
THE VALLEY Internet Domain: .ai
International Dialling Code: +1 264
Electricity: 110 volts / 60 cycles

COUNTRY OVERVIEW INVESTMENT INCENTIVES
q Anguilla is the most northern island • A zero-tax jurisdiction, with no income, capital gains, estate, profit, personal, corporate tax,
in the Leeward Island chain. Value-Added Tax (VAT) or other forms of direct taxation on either individuals or corporations,
q The island is sixteen miles long and whether resident in Anguilla or not.
an average of about two miles wide • There is no restriction on the importation of raw materials. However such materials are
with an area of 35 square miles. subject to stamp duty ranging from 5% to 25% on the cost of goods imported into the island
q Its economy is primarily based on unless exempt from stamp duty by the Government of Anguilla.
tourism, followed by the financial • Costs in Anguilla for the formation and licensing of companies are reasonable and competitive,
services sector. as are company management fees.
q It is composed of limestone and • The Government has established a program allowing for multiyear work permits of up to four
coral and is generally flat. years and relaxed residency rules.
q Noted for its spectacular and • Concessions are granted to inward investors by the Hotels Aid Act, which exempts all custom
ecologically important coral reefs duties and pier dues (usually between 10%-30%) on all building materials and other articles
and beaches. of hotel equipment imported by properties with more than 10 rooms.
q Has some thirty-three white sand • The granting of concessions is discretionary. Therefore, it is in the interest of the investor to
beaches with crystal clear waters. hold discussions with Government before embarking on his project.
q Upscale hotels and restaurants with
world-class accommodations. The following incentives apply to the establishment of offshore banks and trusts in Anguilla:
q The Capital is the Valley. • Tax-free jurisdiction.
• No foreign exchange controls.
The British overseas territory of Anguilla • No restrictions on transfers of securities.
is best known as an upmarket destination • Relative freedom from controls on international banking and trust activities.
for tourists. Anguilla also lays claim to • Absence of stringent regulations on liquidity ratios and capital requirements (subject to the
some of the finest beaches in the region, type of license).
as well as some of the most luxurious • Case by case approach to certain regulatory requirements taking into account specific
hotels. investment and group treasury requirements.
• Earnings may be retained offshore and repatriated freely.
The modest agricultural production • Interest may be paid without tax deductions.
is almost entirely used for domestic
consumption. Fishing and boat building ANGUILLA COMMERCIAL ONLINE REGISTRATION NETWORK (ACORN)
(a longstanding tradition of excellence in Anguilla has a state of the art online company registration network, known as ACORN, which is
Anguilla) also contribute. However, the the centre piece of its financial services industry. The ACORN system provides online registration
island’s true riches are in its spectacular and management of companies 24hrs a day every day, and has given Anguilla the ability to reduce
coral reef formations and a staggering many of the costs associated with international finance.
diversity of marine life: from stingrays
to sharks, turtles to tropical fish, there’s Government of Anguilla Commercial Registry
as much to see on the seafloor as there is P. O. Box 60
on the shore. The Valley, AI-2640
Anguilla
Tel: (264) 497-3881/2451
Fax: (264) 497-8053

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