Anguilla Launches Tax Residency Programme

Last week at the Investment Migration Forum in Geneva, the Chief Minister of Anguilla, Victor Banks, announced the launch of the Island’s new Tax Residency Program.

The Caribbean Island of Anguilla will be offering an extremely attractive solution aimed at non domicile, HNW individuals looking to minimise their annual tax burdens.

High Value Resident Programme (HVR)

To become tax resident in Anguilla, applicants are required to pay $75,000 of their annual worldwide tax obligations to Anguilla’s Treasury. The applicant must prove their readiness to make this annual payment of  $75,000 for at least five consecutive years. The applicant must also own and maintain property in Anguilla valued in excess of $400,000 and maintain it for as long as they wish to remain tax resident. The applicant will also be required to establish genuine links to Anguilla and must make a written declaration every year that they are spending less than 183 days (6 months) in any other country.

In return tax residents in Anguilla will benefit from no income tax, corporate taxation, capital gains tax, gift tax, net worth tax or inheritance tax. The government relies on custom duties and a few levies to manage this almost zero tax jurisdiction. Social security contributions and property taxes are also very low in comparison to regional or international standards.

Alongside the tax residency programme there will also be a Permanent Residency by Investment programme. This will offer two investment routes; a real estate option and government donation option, similar to the paths of other Caribbean Islands. Like with all the programmes we offer, additional due diligence, application and government fees will apply.

For the full programme details, please contact one of our advisors.