Capital city: Georgetown
Currency: Saint Helena Pound
GDP: USD$31 million
GDP per capita: USD$38,462
Ascension Island is an isolated volcanic island in the equatorial waters of the South Atlantic Ocean (midway between the horn of South America and Africa). The island is named after the day of its recorded discovery, Ascension Day (by Portuguese navigator Afonso de Albuquerque in 1501).
Ascension Island hosts one of four ground antennas that assist in the operation of the Global Positioning System (GPS) navigational system (the three others are on Kwajalein Island, Diego Garcia, and Cape Canaveral). The island provided a base for a NASA communications dish during the space race in the mid-twentieth century (chosen due to its central location in the Atlantic and proximity to orbital paths).
The main export items are Ascension Island postage stamps (first issued in 1922), commemorative coins (since 2010), and commercial fishing licences for long-line tuna fishing vessels.
A secondary export is the international internet domain code .ac, which small UK educational colleges and science museums are attracted to (due to its similarity to ac.uk, which is the domain code reserved for well-established UK educational institutions). In December 2013, Pirate Bay (one of the most well-known file piracy websites in the world) moved to .ac following the seizure of their .sx website.
Ascension island incorporated companies pay no tax.
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2