The Falkland Islands is an archipelago in the South Atlantic Ocean on the Patagonian Shelf. The principal islands are about 300 miles (483 kilometers) east of South America’s southern Patagonian coast, at a latitude of about 52°S. The archipelago, with an area of 4,700 square miles (12,000 square kilometers), comprises East Falkland, West Falkland, and 776 smaller islands. As a British overseas territory, the ‘Falklands’ has internal self-governance, and the United Kingdom takes responsibility for its defense and foreign affairs. The Falkland Islands’ capital is Stanley on East Falkland.
Controversy exists over the Falklands’ discovery and subsequent colonization by Europeans. At various times, the islands have had French, British, Spanish, and Argentine settlements. Britain reasserted its rule in 1833, although Argentina maintains its claim to the islands. In April 1982, Argentine forces temporarily occupied the islands. British administration was restored two months later at the end of the Falklands War. Most Falklanders favor the archipelago remaining a UK overseas territory, but its sovereignty status is part of an ongoing dispute between Argentina and the United Kingdom.
Currency: Falkland pound
Corporate tax rate: 21-26%
Personal tax rate: 21-26%
Capital gains tax: Taxed with normal tax rate. Special conditions for UK citizens
Tax residence: 183 days rule: world income is taxed with some exceptions. Special tax residence rules for workers in the Oil industry and UK citizens.
CFC Rules: No. Special rules for UK citizens may apply.