Montserrat situated in the Caribbean 27 miles from Antigua. It is 40 square miles. The island is dominated by the lush green woodlands known as the Centre Hills. The lower valleys comprise residential homes whilst the top of the Centre Hills is designated as a natural reserve. The average temperature is 80 degrees Fahrenheit and the average rain fall is 60 inches.
The southern part of the island consists of the Soufriere Hills where the capital, Plymouth is now buried. This area was devastated by volcanic activities in 1997 and is now part of the exclusion zone. The scene there is that of a latter day Pompeii and when volcanic activities have ceased the town and its surrounds will be a major geological and tourist site.
Prior to the volcanic eruption in 1995 the population was around 11,000; however, since the commencement of volcanic activities the population decreased substantially to around 5,000 and gradually increasing.
Business activities are conducted in the northern part of the island mainly in the Brades area which, before the volcanic activities was mainly residential. This part of the island is not affected by the volcanic activities and for this reason the domestic banks and other official businesses including the Government offices are also situated in this area.
Montserrat is a dependent territory of the United Kingdom and its laws are based on English common law. The titular head of government is the Governor who is appointed by the United Kingdom. The Executive Authority in Montserrat is vested in Her Majesty the Queen who has reserve powers to make laws for the peace, order and good government of Montserrat. Under the constitution the Governor has special responsibilities for defence, external affairs, international financial services or any directly related and the appointment and termination of public officers.
The Legislature in Montserrat comprises nine elected members and two ex officio members, the Attorney General and the Financial Secretary.
The Executive Council has the general direction and control of the Government and collectively is responsible to the Legislative Council. It comprises of four members of the Legislative Council appointed by the Governor as Ministers including the Chief Minister who, in the opinion, of the Governor is most likely to command the confidence of the majority of members in the Legislative Council, the Attorney General and the Financial Secretary.
Access to Montserrat
Montserrat is accessible by daily scheduled flights from Antigua through VC Bird International Airport. International connections are available from Antigua via American Airlines, British Airways, Air Canada, BWIA and LIAT to Miami, New York, London, Canada and the Caribbean region. International business persons can conduct business in Montserrat the same day of entry and exist to and from Antigua to Montserrat.
There are also plans to operate a regular ferry service to the neighbouring islands in the near future.
Banking Facilities
Montserrat has two domestic banks which are licensed to carry out banking business with overseas correspondent banks. These are:
- Bank of Montserrat Ltd
- Royal Bank of Canada
These banks are regulated by the Eastern Caribbean Central Bank. International banking transactions are carried out from these institutions and there are no restrictions on the purchase of foreign exchange. Finance can be secured for working capital, purchase of capital items and mortgages for residential homes.
Other financial institutions in Montserrat include:
- Montserrat Building Society
- St. Patrick’s Co-operative Credit Union Limited.
The currency used in Montserrat is the Eastern Caribbean Dollar and this is pegged to the United States Dollar at the rate of US$1.00 to EC$2.70.
Permit for Permanent residence or Economic Residence
Persons wishing to relocate to Montserrat to live and carry out business may apply to the Governor in Council for a permit of permanent residence or permit of economic residence.