Investing In Island Property
What You Will Get
Since they are not making land the way God used to, it’s about time you get a piece of God’s earth to call your own. On any piece of land in Antigua, you get magnificent views of God’s creation stretching from one end to another.
And we are not just talking about nature in its most beautiful incarnation either because even God’s own images in Antigua are beautiful! You will see proof of this statement during the Antigua Carnival where men and women in various states of undress shake their booty to hypnotic African music.
Just like any real property market in the world, the costs of investing in property in Antigua depend on many factors of which the most important is location, location, location. Of course, you also need to take in to consideration things like architecture style and spaciousness.
Expectedly, you have to pay for government-imposed fees related to real investment property. As buyer, you pay for the Alien Landholding License (5 percent of the property value), legal fees (1 to 2 percent) and stamp duty (2.5 percent).
All in all, you may pay up to a quarter of the property value in roundtrip transaction costs when investing in Antiguan property. Put that into perspective if you are thinking that it might be too much. You are investing in paradise, after all, and paradise is priceless!
What You Will Do
Investing in island property is relatively easy especially as the Antiguan government is keen on foreign investments pouring into their coffers. Antigua is also a tax haven so you need not worry too much about your property becoming another white elephant on your tax forms.
However, being an alien from another planet, er, country, you need to secure an Alien Land Holding License before you can proceed with the purchase. It will take at least 3 months to process so in the meantime, take your holiday in one of the island’s many rental villas.
You may ask why Antigua is being promoted as a real property paradise investment haven, not its sister island of Barbuda. One reason: The government prohibits the sale of even a single rock in Barbuda!
Also, keep in mind that government being as it is anywhere in the world, the laws on buying real estate can be confounding to the average investor. You are better off hiring a property management service company that will handle the details and documents of the purchase.
When you have the deeds to your house and lot, it’s time to start thinking about the next step. No, it’s not refurbishing and redecorating. It’s taking a holiday in paradise and being king (or queen) in your own island kingdom!
Questions and Answers
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