Statement of Legislative Purpose

The Legislature declares it to be the purpose of the Chapter to promote the economic development of Guam by making it possible for individuals who become Guam residents to pay little income tax on their earned income derived from sources outside of Guam. Since this Chapter is not intended to encourage enterprises which have offices in Guam from sheltering income earned in Guam, the benefits of this Chapter are intended to apply only with respect to income earned by residents of Guam from sources outside of Guam, the United States, its states, territories or possessions.