28/09/20 – Business / Investments / Anguilla / Caribbean
Amidst the global pandemic, Anguilla remains a stable jurisdiction for offshore investment, says law expert
Despite the disruptions that Covid-19 has wreaked across the world, the Caribbean island of Anguilla remains a stable safe-haven for offshore investment amidst the crisis, according to Pam Webster, Managing Partner of WEBSTER LP. One of the Caribbean’s top law firms, WEBSTER LP has just announced a close collaboration in Anguilla with ISFIN, the emerging markets advisors with an active presence in 75 countries.
Prof. Laurent Marlière, CEO of ISFIN, observed that many of the Caribbean markets are currently in transition. “They generally are tax incentive jurisdictions that have been on the radar of the US, the UK and the European Union – their main customers. Whilst these markets reinvent themselves, ISFIN – with its strong local partners – is best positioned to direct new trade routes into the Caribbean.”
Ms Webster said that despite the pandemic “Anguilla remains a stable jurisdiction for offshore investment including companies, trusts and foundations”.
No Covid cases, no taxes, and work there remotely for 12 months
“Anguilla has no Covid cases and is open for business, tourism, real estate – and even now offers the opportunity for people to come and work remotely for up to 12 months,” she advised.
In relation to FDI in Anguilla: investors do not have to pay income taxes, asset taxes, profits taxes, capital gains taxes, distributions taxes, value added taxes or any other form of taxes. Anguilla is an associate member of the Caribbean Community Common Market (CARICOM).
Beyond that, Ms Webster added that the registry system of Anguilla “looks to the future”, given that it already has in place an online registry system of businesses, and “the ability to incorporate companies in just 24 hours” via Anguilla’s Commercial Online Registration Network (ACORN). “Notwithstanding the new economic substance requirements, WEBSTER LP advises its clients in relation to innovative tailored solutions to suit their needs,” she added.
WEBSTER LP is today the exclusive Anguillan member firm of two leading global law firm networks, Lex Mundi and World Services Group. The company specialises in estate planning, real estate, international commercial litigation, corporate and commercial law, governmental and constitutional affairs, intellectual property, offshore finance and registered office facilities and family offices.