Economy of Anguilla About Anguilla

Anguilla is a Caribbean British Overseas Territory. Anguilla is situated as one of the most northerly of the Leeward Islands. Anguilla is based in Lesser Antilles and is lying east of Puerto Rico.

The main Island of Anguilla is about 16 miles long and 3 miles wide, at its widest point. The capital of Anguilla is the Valley. Anguilla has the cluster of number of smaller islands and cays. These islands do not have any permanent population. The total land area of Anguilla is 35 square miles and it has a population of about 14,764 people as counted in the year 2016.

Economy of Anguilla

Anguilla has a thin and arid soil type, which does not prove to be suitable for regular agriculture. The main island of Anguilla has few natural resources, which are land based.

The economy of Anguilla is mainly based on the industry of tourism there. The tourists visiting the main islands are the main source of economy in this cluster of islands.

There are some off shore incorporations, some off-shore management houses and some off-shore banking, those help in running the economy of Anguilla. The off shore captive insurance is also there.

Another main source of economy in Anguilla is fishing. The fishing industry keeps the island above the water, as far as the economy of the island is concerned.

The economy of Anguilla was expanding rapidly before the world-wide crisis of 2008. The multinational companies were driving major new developments in tourism sector.

The currency of Anguilla, the East Caribbean Dollar is also a widely accepted currency there, besides the US dollars. Anguilla has seven banks operating in the islands, with two money services businesses.

The economy of Anguilla is seeing the brighter days as its tourism industry has received a boost by being voted as the “World’s Leading Luxury Island Destination,”

Anguilla is also hoping for a boost in economy by adopting alternative sources for power, such as solar energy.

So, the good days are just about showing up in economy of Anguilla.

Why form an offshore company in Anguilla?

Anguilla are one of the best places in the world to do business as they don’t charge a corporate tax, income tax, taxes on interests or dividends earned through investments on the money generated outside its country. That is why it is one of the well known tax havens in the world. The offshore corporations have to pay an annual licensing fee to the government directly which is in turn based upon the authorized share capital it has.

Form an Offshore Company in Anguilla

Benefits of Forming an Offshore Company in Cayman’s Island

  1. You don’t need a local person.
  2. Only one shareholder and one director is required
  3. Zero income tax, zero corporation tax, zero capital gains tax, zero property related tax.
  4. Business can be run from anywhere in the world.
  5. Zero initial capital required to form a company
  6. Zero annual return filing fee
  7. No need to submit accounts or annual return
  8. No Double Taxation Treaty access
  9. All documents are in the official language of English