Anguilla: Overview

RENTAL YIELDS

Last Updated: Sep 19, 2006

Yields are high at 38.8% in Anguilla

Current yields are around 38.8% for properties with at least 12 bedrooms located in prime coastal areas particularly the West End, the center of Anguilla's rental market. This figure applies to short-term leases, usually one week, and takes into consideration varying rates during peak season and off-peak season.

The government has abandoned a previous rule that foreign-owned property cannot be rented out. The restriction was aimed at stopping tax evasion by non-resident owners. Instead, from 2007, all landlords must appoint locally-registered representatives to be responsible for tax payments.

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TAXES AND COSTS

Last Updated: Jan 19, 2009

Rental income tax is low in Anguilla

Rental Income: Properties rented by tourists are liable to the 10% Accommodation Tax, which is levied on the gross rent.

Property: Property taxes are levied at 0.0175% of the property's assessed value.

Capital Gains: There are no taxes on capital gains in Anguilla.

Inheritance: There are no inheritance taxes in the island.

Residents: There are no taxes on income in Anguilla. But stamp duties and fees are levied on certain types of income.

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BUYING GUIDE

Last Updated: Apr 01, 2008

Buying costs are high in Anguilla

Roundtrip transaction costs are between 21.55% and 24.70% of the property value. The Alien Land Holding License is 12.5% of property value with a filing fee of XCD1,075. Stamp duty is 5% while legal fees are typically at 2%. Real estate agent's commission range from 2% to 5%.

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LANDLORD AND TENANT

Last Updated: May 28, 2007

Anguilla's tenancy protection laws

Tenancies in Anguilla are usually short-term. It takes an average of 91 days to evict a tenant.

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ECONOMIC GROWTH

Last Updated: Apr 17, 2009

Tourism-dependent economy

Anguilla’s economy is highly dependent on tourism. In the 1980s, it made the decision to develop upper-end tourism, and concentrated on luxury hotels and villas. The industry caters mainly to visitors from North America and Europe.

As of September 2008, visitor arrivals totaled 102,607, down 24.2% on the same period last year.

The number of visitors to Anguilla increased 5.9% annually between 2000 and 2007. There were about 164,067 visitors in Anguilla in 2007. Of these 77,652 visitors stayed over.

The economy grew by an average of 18% per year from 2004 to 2007, because of major construction and developments in the island. However in 2008, the Anguillan economy is believed to have slowed sharply due to the global crisis.