The lifestyle benefits of buying real estate in Antigua are fairly obvious. To start with you have 365 white sand beaches with crystal clear water, a year-round warm climate, an exciting sailing and boating scene and good international access. But what most people don’t realise is that there are also many hidden financial and tax benefits, that make buying a property in Antigua compelling from a financial point of view as well.
The good news is that buying a property in Antigua is not just reserved for the people who are native to the island. Non-citizens can buy property in Antigua and the Government of Antigua welcomes investment from overseas buyers. In order to invest in real estate, buyers will need to apply for a Non-Citizens Land Holding Licence (NCHL or NCL) for which there is a fee of 7.5% of the purchase price.
Probably one of the most attractive options for investors looking to purchase a property in Antigua is the Citizenship by Investment Program. By purchasing property in an approved real estate project such as Pearns Point, the buyer will qualify for full citizenship (and avoid having to pay the 7.5% NCHL Fee).
Becoming a citizen, means buyers can benefit from some very attractive tax arrangements. Antigua has no personal income tax, capital gains, inheritance, or wealth tax. The authorities made this move to attract foreign investment to its shores, as well as to position themselves competitively among their Caribbean neighbours.
By investing in real estate in Antigua and Barbuda you can avoid double taxation in countries that Antigua and Barbuda have taxation treaties with, such as the United Kingdom. The foreign tax credit is available to persons in Antigua and Barbuda who have paid or are liable to pay British Commonwealth income tax.
There is also the attraction of owning a second passport without needing to relocate, giving buyers unlimited access to the country and visa free travel to over 140 countries.
The prospect of high rental income is another attractive financial incentive for buying real estate in Antigua, as the rental market is very strong with a high demand for luxury homes available to rent, and a shortage of properties.
Whether you’re looking to retire, live permanently or buy a holiday home, there’s no doubt that buying a property in Antigua can make a fantastic financial investment, as well as a lifestyle investment.
For more information on the Citizenship by Investment Programme, visit https://cip.gov.ag/