Antigua is a beautiful Island Paradise in the heart of the Caribbean sea, known for its 365 Beaches – one for every day of the year. It is a sailing hub and home to some of the most renowned sailing races – The RORC Caribbean 600, The Classics Regatta and Sailing Week. Whether you are a sailing or a beach enthusiast, Antigua has something for everyone.
Buying Property in Antigua may feel different then back home, and we, at RE/MAX 365, aim to make that process as smooth and hassle free as possible, helping you buy your little piece of Island Paradise.
We have numerous property listings on our website and are always happy to do a virtual tour for any listing you may be interested in. Our agents will work alongside you to compose a wish list and try to match you with your dream home – If you don’t see what you are looking for, there are always listings available that are not on the website.
A question that is always asked in real estate – what expenses can we plan for when buying a home in Antigua?
Antigua has several property taxes, as in any location in the world: STAMP DUTY – applies for all buyers and is 2.5% of the property price. NON CITIZEN HOLDING LICENCE (NCHL) – this tax is required of any buyer who does not hold a citizenship of Antigua & Barbuda. It is valued at 7% of the property price.
One more expense to consider, is the legal fees charged by the lawyer that will represent you. This is usually estimated at 1-2% of property price.
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You found your dream home – now what happens?
Once both sides agree on a price, RE/MAX 365 will draw up a purchase agreement for both sides to sign and we will pass it to your representing lawyers – we have several real estate lawyers we work with that we can recommend. The lawyers will draw a sales contract that is agreeable by both sides. Usually, a 10% deposit is asked at this time from the buyer, to be held via escrow by the lawyer.
After the contract is signed by both sides, your lawyer will submit all the paperwork for your NCHL – Non Citizen Holding Licence. From this point it will take between 3-6 month to finalize the sale.
Antigua also offers a Citizenship program – CIP. This program applies to curtain real estate in designated areas in Antigua. When a property is approved by this program, we will highlight that option. There is a government processing fee of $30,000 USD for a single applicant or up to 4 applicants from the same household.
In some cases, applying for the CIP will make better financial sense then paying the 7% NCHL.
Our agents will happily assist you in understanding what is involved and helping you decide which route will work best for you.
We have partnered with an amazing local company that specializes in property management – Away From It All Antigua.
Whether it be short term vacation home rentals or long term – they will manage your property and take care of everything - from rental bookings, cleaning, maintenance and book keeping.
Check them out at awayfromitallantigua.com