Callaloo Club Peninsula

General Information

Anguilla is the most northerly of the Leeward Islands in the Eastern Caribbean, with a latitude of 18.2 degrees North and a longitude of 63.0 degrees West. about 6 miles north of Saint Martin and its intercontinental dutch airport which ensures easy air access from North America and Europe.

About 16 miles long, upto 3 miles wide, 35 square miles, the island is a British Dependent Territory within the British West Indies (B.W.I.), its roots and culture are british with a strong U.S. influence, the Government is democratically elected every four years but a British Governor is still nominated by the British Crown. The official language is English.

There is no large international airport on the island, whereby only small aircraft (mainly from PortoRico) and private jets can land and take off and there is no Casino nor mass tourism.

There are about 12,000 inhabitants, people are friendly and the average quality of life is fair for everybody and much above the standards for the Caribbean area, the great majority of the Anguillians own land and one or more house, crime is almost non existant and the island can still be regarded as a peaceful heaven which enjoys economic and political stability.

Unlike many other financial services centres, Anguilla is truly a zero tax jurisdiction. There are no income, capital gains, profit or other forms of direct taxation on either individuals or corporations, whether resident in Anguilla or not.
There are no foreign exchange restrictions, and as a British Dependent Territory the Common Law legal system is based on English Law, these factors, together with an excellent telecommunication system, easy access by air and sea and a well developed professional infrastructure have boosted the growth of a well regulated and transparent financial services industry.

Normally foreigners can buy upto a maximum of half an acre land to build their private dwelling, as far as such land is not beach or oceanfront, as in this case only tourism development is allowed, which implies that the property has to be managed as a Hotel or a Resort or a Rental Villa, with adequate staff and management organization and has to be marketed for rental on a continuous basis, except for the limited periods when the owners intend to stay in their property. The aim being to create more jobs and enable the Government to collect the Accommodation Tax (10 percent of the rental amount), which is one of the few taxes the Local Authorities can count upon in order to properly manage and further improve their wonderful island.

The purchasing procedure is somewhat complex and timeconsuming (about six months); a fair amount of documents has to be submitted in order to obtain the Land holding License which is the key to finalize a purchase and thus securing the transfer of the Title for the purchased Property with the local Land Department (which incidentally is very well organized with complete and up-to-date cadastral records and detailed maps of all the lots and properties on the island, and is also closely interfacing its activity with the Planning Department, which has the task to ensure that the existing building regulations be applied and respected).
Upon transfer of Title, the buyer has to pay a total of 17.5 pct (12.5 pct for the Landholding License Tax and 5 pct for the Registration Tax) calculated on the purchase price, this represents indeed a considerable amount which has to be taken into account (but then, as said above, no other major taxes – like tax on capital gain if reselling, nor on proceeds from rentals or similar - will be applicable later).