{"id":5831,"date":"2021-11-03T14:42:57","date_gmt":"2021-11-03T14:42:57","guid":{"rendered":"http:\/\/glovertechsaba.com\/?p=37"},"modified":"2023-06-28T01:34:01","modified_gmt":"2023-06-28T00:34:01","slug":"investment-guide-st-eustatius-2016","status":"publish","type":"post","link":"https:\/\/statia-sabachamber.com\/index.php\/2021\/11\/03\/investment-guide-st-eustatius-2016\/","title":{"rendered":"INVESTMENT GUIDE ST. EUSTATIUS 2016"},"content":{"rendered":"

WHY IS ST. EUSTATIUS, OR STATIA ATTRACTIVE FOR INVESTMENT?<\/strong>
\nAlready since the 18th century Statia is known as a good place for doing business due to its strategic location between the old and the new world. This advantage remains unchanged today. As part of The Netherlands Statia has a clear legal and regulatory system. Statia has also a favorable fiscal regime.<\/p>\n

GENERAL INFORMATION<\/strong>
\nLocation : 35 miles South of St. Maarten
\n178 miles East of Puerto Rico
\nSize : 11.8 square miles\/21 km2
\nPopulation : 4000
\nCurrency : USD
\nElectricity : 110\/220V 60 Hz.
\nLanguages : Dutch\/English
\nConstitutional status : Special municipality of The Netherlands<\/p>\n

THE ECONOMY<\/strong>
\nThe main economic contributor is oil transshipment with a 14-million-barrel storage capacity. On a limited scale there is tourism, while there is lots of underutilized potential in this sector, trade and some agricultural activities.<\/p>\n

WORKFORCE<\/strong>
\nThere is limited availability of local workforce. Foreign workers require a work permit and residency permit.<\/p>\n

FISCAL SYSTEM<\/strong>
\nDutch Caribbean tax system:<\/u>
\n– No profit tax;
\n– No import duties;
\n– 5% revenue tax;
\n– 0.8% property tax (0,4% for hotels), USD 70,000 deductible, first payment 10 years after investment;
\n– 30.4% income tax (34.4% above USD 250,000), includes social premiums and healthcare insurance; 18.4% social premiums employer
\n– 5% transfer tax;
\n– 6% ABB tax by import, 4% ABB tax on services.<\/p>\n

INFRASTRUCTURE<\/strong>
\nPORTS OF ENTRY<\/u>
\nHarbor: Semi protected, 80 m long jetty, depth approx. 4.5 m. Latest improvement: boardwalk.
\nAirport: F.D. Roosevelt airport, 1200 m runway. Renovation runway completed in 2015.<\/p>\n

ROADS<\/u>
\nGenerally, in poor condition. Multi annual plan, includes road improvement, to be executed starting 2016.<\/p>\n

UTILITIES<\/u>
\nElectricity: produced by diesel generation and provided by STUCO, a 100% government owned company. Most powerlines are above ground and therefore vulnerable for extreme weather conditions like hurricanes. In 2016 a 2 Mw solar plant will go online. Cost per Kwh: USD 0.35.<\/p>\n

Water: although many homes still make use of traditional cisterns, most parts of the island are connected to the water distribution network. Cost per m3: USD 10.00<\/p>\n

Telecommunications: EUTEL, 100% government owned, is the local telecom provider. Mobile service is provided by UTS and TelCell. Due to the small market, telephone and internet service is rather expensive while quality is marginal.<\/p>\n

ACCESSIBILITY<\/strong>
\nAirlift: 4-times daily service St. Maarten \u2013 St. Eustatius with Winair (19 seats); 3 times weekly service St. Eustatius \u2013 St. Kitts \u2013 Anguilla (9 seats)
\nSealift: No passenger service. Two providers offer weekly freight service out of St. Maarten. Periodic services out of Puerto Rico.<\/p>\n

REQUIREMENTS TO ESTABLISH A BUSINESS<\/strong>
\n– Registration at the Chamber of Commerce (2 days);
\n– Business license (max 8 weeks);
\n– Managing director requires directors license;
\n– Other licenses depending on type of business.<\/p>\n

BUSINESS AND INVESTMENT OPPORTUNITIES<\/strong>
\nTOURISM<\/u>
\nThe St. Eustatius \u201cStrategic Development Plan\u201d highlights tourism as main potential area for growth. The Spatial Plan includes areas for tourism development in, among other, Lower Town, Zeelandia, White Wall and Venus Bay. Most potential properties are government owned and available for long lease. Attractions are a vast inventory of historic sites and buildings (Fort Oranje\/synagogue etc.) nature reserves like the dormant Volcano \u201cThe Quill\u201d and the marine park. Priority is given to increase tourism accommodations, complimentary services including dive tourism yachting and small upmarket cruise tourism.<\/p>\n

AGRICULTURE<\/u>
\nOpportunities exist for agriculture, fisheries and livestock. Besides the local market there are potential export markets for fresh high quality produce on surrounding islands i.e. St. Maarten and St. Barth\u2019s.<\/p>\n

OTHER<\/u>
\nAny other forms of sustainable development are welcome.<\/p>\n

MORE INFORMATION<\/strong>
\nFor the Contact Information or more information about investing in Statia<\/p>\n","protected":false},"excerpt":{"rendered":"

WHY IS ST. EUSTATIUS, OR STATIA ATTRACTIVE FOR INVESTMENT? Already since the 18th century Statia is known as a good place for doing business due to its strategic location between the old and the new world. This advantage remains unchanged today. As part of The Netherlands Statia has a clear legal and regulatory system. Statia […]<\/p>\n","protected":false},"author":2,"featured_media":91,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-5831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/posts\/5831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/comments?post=5831"}],"version-history":[{"count":1,"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/posts\/5831\/revisions"}],"predecessor-version":[{"id":5883,"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/posts\/5831\/revisions\/5883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/media?parent=5831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/categories?post=5831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/statia-sabachamber.com\/index.php\/wp-json\/wp\/v2\/tags?post=5831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}