Being an Overseas Territory of the United Kingdom, and remote in its location, St Helena supports a safe, stable and supportive investment environment. St Helena has a resident Governor who oversees the elected Legislative Council. Although St Helena has its own laws, local legislation is largely based on British law. The island is English speaking and uses a currency which is on parity with the British pound. Recent modernisation of immigration control means that there is ease of immigration for investors and individuals bringing skills to the island which are in short supply. Tax reforms also offer incentives, and tax breaks for those looking to invest on the island.