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Anguilla
Date: 2015-8-10 10:04:33

Anguilla Overview

Anguilla is a British overseas territory in the Caribbean. It is one of the most northerly of the Leeward Islands in the Lesser Antilles, lying east of Puerto Rico and the Virgin Islands and directly north of Saint Martin. The territory consists of the main island of Anguilla itself, approximately 16 miles (26 km) long by 3 miles (5 km) wide at its widest point, together with a number of much smaller islands and cays with no permanent population. The island's capital is The Valley. The total land area of the territory is 35 square miles (90 km2)  with a population of approximately 13,500 (2006 estimate).

 

Anguilla has become a popular tax haven, having no capital gains, estate, profit or other forms of direct taxation on either individuals or corporations. In April 2011, faced with a mounting deficit, it introduced a 3% "Interim Stabilisation Levy", Anguilla's first form of income tax. 

 

Economy

Anguilla's thin arid soil is largely unsuitable for agriculture, and the island has few land-based natural resources. Its main industries are tourism, offshore incorporation and management, offshore banking captive insurance and fishing.   
 
 
Before the 2008 world-wide crisis the economy of Anguilla was expanding rapidly, especially the tourism sector which was driving major new developments in partnerships with multi-national companies.
 

Anguilla's financial system comprises 7 banks, 2 money services businesses, more than 40 company managers, more than 50 insurers, 12 brokers, more than 250 captive intermediaries, more than 50 mutual funds, 8 trust companies.

 

Currency

Anguilla's currency is the East Caribbean dollar, though the US dollar is also widely accepted. The exchange rate is fixed to the US dollar at US$1 = EC$2.70.