Did you know that buying a property in Antigua is possible even without physically living here? It is fully supported by the Government of Antigua & Barbuda since there is a Citizenship by Investment Programme which in turn provides citizenship against the Investment and a passport with which you can fly to over 155 nations.
Investors have started flying here since the Programme was announced in 2013. Today, one can buy a Home, Villa, Land or even shares in existing properties under the Programme.
The Process of buying a property in Antigua:
The process is straight and simple if you have no criminal records and sufficient funds. Having a Real Estate Agent, Licensed Agent or an Attorney by your side will be extremely helpful in buying a property hassle-free. Any Non Citizen and/or company registered in a Foreign country is also eligible for buying a property in Antigua.
After choosing your desired property, your Attorney will assist in the process of obtaining a Non Citizens’ Landholding Licence. Your Attorney would also review, prepare or negotiate terms in a sale and purchase agreement. In general, a 10% deposit will be required upon siging the Sale and Purchase Agreement. In addition, the Non Citizens’ Landholding Licence would cost around 7% of the property value. The Grant of Licence would take 3-4 months.
Simultaneously, you Attorney may safeguard your property from other deals by registering an Official Search and Stay over the said property.
After the License is granted, you can purchase the property by paying the remaining Balance on the Purchase Price and the Government’s Stamp Duty.
At the conclusion of the transaction, you would have paid 7% of the property cost as a License fee, 2.5% as Buyer’s stamp duty and under 2% as legal costs with 2% for Insurance on your new Property.
Buying a Property in Antigua is much easier than many think and in some instances, can provide many benefits such as a second passport which many other countries do not offer.
