Living In Anguilla On A Pension

by Joseph
(Ottawa, Canada)

Can a family of 5 live in anguilla on a pension, say $CDN 2500 per month with other income pending?

What is the lowest rental per month plus living expenses?

Ken's ReplyIt is certainly possible to live in Anguilla on that amount, thanks to the absence of income tax (aside from the 3% Temporary Stabilization Levy) and low property taxes. Residential rents have also come down substantially post-Recession.

It costs $1000-$1500/month, minimum, for a reasonable 2-3BR apartment, but only you can decide if "reasonable" meets what you want, Joseph. It will take a fair amount of personal investigation and negotiation to secure that.

Consider, too, the cost of essentials such as groceries, gas and utilities. They are higher than on mainland North America due to import duties and the shipping costs to our tiny island.

There are too many unknowns to actually recommend living in Anguilla for you and your family, personally, Joseph, since you do not make the desired standard of living clear. But yes, it can be done...

That is assuming you seek a frugal lifestyle, living inland (i.e., not oceanfront) in a 3 bedroom apartment (see Anguilla apartments) or home (more expensive). Establishing non-residency, though, is critical. Tax-free income stretches the budget considerably.

Because you are Canadian, you should be able to receive your pension tax-free here once you establish non-Canadian residency. This is true for most countries (except for the U.S. and one or two other nations). It does, though, require the help of a tax attorney who is familiar with the process.

Even Americans, if they arrange their affairs correctly, should be able to have the first $80,000 or so (I am not sure of the exact amount) exempted from income tax in their home countries. But do check that out with your local attorney.

Your application for residency in Anguilla must be accepted by local authorities, of course. The basic requirements...

You must have a reasonable net worth and a somewhat higher income when you submit financial documents. So if your "other income" is at least another $2500/month and your financials show some reasonable net worth, then it might start to work.

I suggest coming down here and spending a week at Carimar, which is perhaps the best-priced deal on a world-class beach.

Make it a working vacation, while living as cheaply as possible. Check out apartments and schools, the price of groceries, etc. Meet people and ask questions. If you do that, you should be able to establish a currently realistic budget.

My feeling, based on your base income of $2500/month (and not knowing how much extra is "pending") is that you might be better off searching out lower cost countries such as Panama or Ecuador. Panama has a special program for retirees (you must be over 50 years old) which may make it more appropriate.

Hope this helps,
Ken

Budget For Living In Anguilla

by Nir
(Israel)

Hello !!!

My wife and myself want to take a 2 years break from our normal life. What is the monthly budget needed for 2 of us to live there?

Thanks in advance,
Nir

Reply from Dad: That all depends... The range of possibilities is near-infinite. How much money do you have? ;-)

That said, Anguilla is not a cheap place to live. I have always thought it would be a wonderful, safe place for folks on a budget to come for a few months during winter, if they already had an outside employer and work from their laptops. Extend your visitor's stay month by month, be warm and by the beach.

I would love to see Anguilla turn this concept into an official program. It's something I talk about often, since there are tax advantages to officially living here that significiantly outweigh the higher costs of living (due to high duties).

Still, you can do it on a low budget...

You can spend as little as $500/month for an apartment, if you have good Anguillian friends who can help you get "the local rate." Like anywhere in the world, expect to face higher price requests otherwise. Right now, there is a glut of apartments and it's a "renter's market."

On average for the types of Anguilla apartments that Nori describe, expect to pay in the ballpark of $1500/month.

Groceries will likely cost an adult couple about $500-600/month. Gas is about $6-7/US gallon, so drive a gas-efficient car.

There are loads of great, cheap restaurants, as well as all kinds of music at bars and restaurants.

As for what to do in Anguilla, the beaches and snorkeling and hiking are all free.

Hope this gives you some sort of idea!
Ken

Currency Used In Anguilla, Cost Of Living

by Chris
(Montego Bay, Jamaica)

Hi there,

I find your site very informative.

I am currently on contract in Jamaica. It is a beautiful place but I'm exploring all the options that catch my eye about living in the Caribbean.

Are the prices quoted all over the site in US$ or EC$?

Regards,
Chris

Nori's Reply: Chris, that question is always an interesting one. When someone asks that, it is sometimes a subtle way of joking (or sometimes not joking!) that the price for something is so high that you start wondering if it's given in EC$, since there are 2.68 Eastern Caribbean Dollars to the USD.

In the island of the $100,000 per week villas, it comes as no surprise though, that you might wonder if those prices are in USD.

Yes, the prices on this site are all in USD. Just to continue the thought above (cost of living)...

Anguilla itself deals in the US Dollar and the EC Dollar. It accepts both, with equal ease.

Interestingly, everyone here takes USD and no one tries to make a buck (so to speak) off the currency exchange. If you buy in USD, you may get some EC back in change, but they calculate it at 2.68, the actual fixed exchange rate.

In fact, while Anguilla has a reputation as a 5-star tourist island with 5-star expenses, you really do get what you pay for as a visitor. The luxury hotels and restaurants are world-class.

If you come to live, though, you can live quite cheaply especially since there is no income tax here. A nice apartment rents for $1500-$2000. Anguilla groceries are definitely more expensive, but not insanely so. You can eat well and cheaply at local restaurants. The cost of most services (mechanics, etc.) are significantly less than in the U.S.

All in all, don't worry. While the prices for some of the high-end luxury hotels and villas seem expensive, the cost to live in Anguilla is reasonable.

And for those who live in places like Canada, Germany, France, not only do you escape the winter (the #1 prize!), my Dad says you save so much in taxes that any differences in the cost of living are insignificant.

Mostly, though, my parents are really happy living in Anguilla because of the people, the vibe and the safety. I know this may sound strange for someone living in Jamaica, but you can go anywhere on the island at any time, and not worry.

Hope this helps, Chris. I know it's more than what you seemed to be asking. But I know what that "is this in EC$" question can sometimes mean. ;-)

How Much Must You Earn To Live In Anguilla?

by Mike
(Sweden)

I'm planning on moving to Anguilla, or I at least dream of it. I earn around 150K per year on my online-based business. Is this enough do you think?

Regards
Mike

Dad's Reply: There are many factors that Anguilla looks at, Mike. Assuming you have a clean police record, business that is stable or growing over several years, a strong net worth, etc., you should have a good chance for a successful application. If you are building a home, even better.

But every case is different, Mike.

Invest an hour or two with our Anguilla attorney, Anguilla attorney -- she's very thorough and will set you in the right direction.

Hope that helps,
Ken

Cost of Living Anguilla

by Lorenzo
(Italy)

I have read with interest your web site and have been thinking for a while about moving to a "paradise island". One thing I was trying to understand better is the cost of living in Anguilla.

I have seen your review about the Klasher Apartments and they look very nice. On the other hand the price you mention is per-day and with service, maid etc.. so it looks like they are more geared toward vacations rather than living abroad.

I was more looking for a standard, long term, yearly rent type of apartment, just like the type one would rent in a "not so paradise" place. Could you give me an idea of how much that would cost?

Thanks a lot,
Lorenzo

Ken's Reply: There are many units available now with 2-3 bedrooms, inland and not on the sea (in other words, non-tourist type accommodations), very nice, recently built, clean, etc. Nori's going to be putting up a page about one, 4 units of nice quality built by a friend.

Great view of the sea and St. Martin. Plasma screens, etc. The rent?

$2,000 per month! Prices have come down since the recession.

Also, Lorenzo, I'm 95% sure if you asked Karlyn at Klasher what an annual rent would be, she'd be open to that arrangement.

Groceries are more expensive due to the duties. A used car from Japan can be bought quite cheaply. There are lots of good, cheap, non-touristy restaurants.

All in all, the cost of living in Anguilla is extremely reasonable once you factor in zero income tax and near-zero property tax.