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Anguilla’s Proposed Residence by Investment Program Takes Shape

Anguilla’s planned residence programs – which the concessionaire expects to open in Q2 2019 – will include options for lump-sum tax, real estate acquisition, and donations to a government fund.

On October 15th, 2018, Latitude Consultancy and Arton Group signed a 10-year Public Services Concession Agreement with the Government of Anguilla. For Latitude, it was the first government concession; for Arton, the third. Since the signing of the PSC Agreement, the Consortium has been working with the Government of Anguilla to draft a new Economic Residence Act, which will serve as the legal basis for its two new residency programs.

For those not familiar with Anguilla, the Caribbean island is a British Overseas Territory (BOT) and is a popular tourist destination for those in search of a ‘reclusively exclusive’ getaway. Like other BOTs, such as the Cayman Islands, and Turks & Caicos, Anguilla doesn’t levy any tax on personal income. BOT residents can apply for British Overseas Territory Citizenship (BOTC) after five years of residence.

A BOTC passport is not the same as a British passport. It does not permit permanent settlement in the UK, and further differs from ordinary British passports in so far as it allows visa-free travel to the EU for 90 days in a 180-day period (holders of ordinary British passports can travel to EU countries for as long as they wish, and even settle permanently) and doesn’t provide visa-free travel to the US.

Until now, Anguilla has been running its own residence by investment programs based under the Immigration Policy of 2001. To qualify to the program, known as Permit of Permanent Residence (PPR), a foreigner must make an investment of at least US$2,500,000 in a business in Anguilla or be a Retired Person who owns property in the country.

On 21 January 2019, Latitude and Arton submitted a proposal to the Government of Anguilla for the design, implementation, launch and international promotion of a new, inward investment agency.

  • Countries: Anguilla

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