The economy of Guam depends mainly on US military spending and tourist revenue. It is a very popular destination for Japanese tourists. Tumon is the tourist hub and has many hotels, a large duty free shoppers galleria, pleasure island district, an indoor aquarium, and entertainment venues. Guam’s largest single private sector employer is an airline and most industrial goods and food are imported.
Contracting in Guam is quite acceptable for individuals with some subtle compliance nuances, but has some hidden on-costs for employers. Most regions have local taxes over and above the federal tax and social system. To facilitate contractors and foreign nationals working in Canada, forward planning is of the essence. USA has entered into Double Taxation Treaties with most countries.
For foreign national contract workers, contracting in Guam, it would be wise to consult with CXC Global on the best way to structure, and how best to balance your taxation.