Buying and Selling Property in Antigua:
The information shown below is a guide only and while we have endeavoured to show accurate information we do not guarantee its accuracy, and accordingly no warranties are given.
Alien Landholders Licence & General Information
If the Buyer is not a resident of Antigua & Barbuda then a 'Non-Citizen Land Holding License' must be acquired in order to purchase a property. Application must be made to Government and permission must be obtained from the Cabinet before the purchase of a property can be concluded. This process will probably take three to six months before the Approval have been given to purchase the said license. The licence fee payable to Government is 5 per cent.
The costs incurred in purchasing freehold property are as follows:
- 2.5 % government purchaser's tax
- 2 % approximately for legal fees.
In the event a property is resold in the future a 7.5 % tax is payable to Government.
Loans to overseas investors from local banks are usually not available and it is therefore recommended that non-nationals should arrange their any financing they may require from outside Antigua. Cash purchases have decided advantages because there is a 3 % five-year recurring advanced tax for all non-resident buyers on their mortgage balances.
Buying land and constructing property
There is a wide variety of land parcels, ranging from raw land to fully serviced plots with value-added services.
Land prices can vary from U.S. $1.50 to U.S. $15 per sq. ft. A typical half-acre plot can cost from U.S. $40,000 to more than U.S. $325,000, but larger sized lots of one or more acres are also available. Some one acre plots can be bought for about U.S. $59,000.
Building Costs
Overseas investors are usually required to commence building within one year of purchasing the land. A typical 2,000 sq. ft. Caribbean-style residence with landscaping and terraces can be completed in 8-12 months.
It is strongly recommended that, where it is proposed to construct a property, the services of a local architect are employed as it is important to utilize knowledge and understanding of the local conditions, requirements, and other important factors in building a home in the Caribbean.
Back to Property for Investment in the Caribbean