Buying Real Estate for Antigua Citizenship

One of the ways you can gain  Antigua citizenship is through a real estate purchase in Antigua and Barbuda. This is according to the Antigua and Barbuda government's citizenship by investment program.

The Antigua and Barbuda Citizenship via Real Estate Purchase 

An application for citizenship via real estate purchase requires the purchase of a property worth USD 400,000 or more in a government-approved project or area. Two applicants may make an application jointly as long as each one contributes a minimum of USD 200,000.

You have to hold on to any real estate purchased to acquire Antigua citizenship for a minimum period of five years. However, you could sell it before the five-year holding period is up if you procure a suitable, officially approved replacement and pay the applicable 5% appreciation or capital gains tax.

Types of Property You Can Purchase

There are no property type restrictions. The property just has to be from an approved area, project, or development. 

The property itself can be residential or commercial. It can even be bare land, although in this case, you would have to build on it within 24 months. In the case of ready-to-occupy properties, you may purchase an apartment unit, a beach cottage, a villa, or a townhouse. You may buy a stand-alone property or shares in residences, hotels, and resorts.

Buying Property in Antigua and Barbuda

 The following are the general steps to purchasing property in Antigua and Barbuda to acquire Antigua citizenship.

1.     Consult a second citizenship firm.

 First, retain the services of a second citizenship firm or company with expertise in citizenship applications via real estate purchase. They would advise you about which properties in Antigua and Barbuda will qualify you to apply for citizenship.

 They should also help you with the rest of the process, even with procuring legal services, to ensure everything will go smoothly and as planned.

2.      Prepare your documents. 

Second, prepare a criminal record certificate from your home country and documents proving financial solvency. Your second citizenship consultant may ask you to prepare additional documents as needed.

3.     Decide on the property you want to buy.

 Third, search for the property you wish to buy. Your second citizenship consultant should be able to recommend appropriate, approved projects for your consideration. Just ensure that the property you're buying is free of liens and other encumbrances.

 This is where retaining a lawyer would help immensely.

4.     Execute a purchase and sale agreement.

 Fourth, prepare and sign a purchase and sale agreement with the property seller, guided by your legal counsel. You will have to pay a 10% deposit at this stage. The seller will refund this to you if the government rejects your application for a non-citizen landholding license.

5.     Register a caution on the property you're buying.

 Fifth, your lawyer will register a caution against the property you're purchasing. This is to ensure that anybody interested in the same property is aware that you have already executed a sales agreement on it, pending your non-citizen landholding license approval.

 A caution will safeguard your interests against other parties who may offer to buy the property in your stead while you are awaiting your license.

6.     Obtain a non-citizen landholding license.

 Non-citizens are required to obtain a non-citizen landholding license before buying and owning real estate in Antigua and Barbuda. This is a requirement for both individual and organizational buyers.

 Even if a company has been formed in Antigua and Barbuda, if the beneficial owners are non-citizens, that company still has to have a non-citizen landholding license before buying real estate in Antigua and Barbuda.

 Your lawyer will apply for you. Accomplish an application form and attach supporting documents such as:

 ●       Letters of reference from two Antiguan professionals or two professionals from your home country.

●       A bank reference.

●       A certified passport-size photo.

●       A copy of your passport.

 The non-citizen landholding licensing process can take three months or longer.

 Once the Cabinet of Antigua has approved your license application, you may proceed to the next step even if the actual license has yet to be issued.

7.     Complete Your Purchase and Sale Agreement.

 Next, complete your purchase transaction. At this stage, you will pay the balances you owe the seller, and you and the seller will pay all other miscellaneous fees, including stamp duties.

 ●       For your purchase, you will pay a 2.5% stamp duty computed against the property's value.

●       For his sale, the seller will pay a 7.5% stamp duty based on the property's value.

●       For your non-citizen landholding license, you will pay a 5% stamp duty based on the property's value.

●       For your legal fees, you will pay your lawyer 1-2% of the purchase price. Note that these legal fees are separate from the fees you will pay your lawyer for other services such as title searches, caution registration, license application, and drawing up of your sales agreement.

Applying for Citizenship After Your Real Estate Purchase

Once you have signed a binding purchase and sale agreement for a real estate property from an approved project or developer – this is the stage where you have paid the 10% deposit – you can submit your application for citizenship to the Citizenship by Investment Unit.

 You'll be required to pay the due diligence fees and 10 percent of the processing fees when you submit your application.

 If the government approves your application, a letter of approval will be issued. This is also the letter of approval that should precede your formal license to own land in Antigua and Barbuda.

 At this point, you can pay the balance of your processing fees. You will also have to transmit to the developer or the seller any sums owed. You will also pay your stamp duties, legal fees, and other fees necessary to register the title under your name.

 At the end of the process, the CIU will issue a registration certificate for you and the family members included in your application. This, your application, and any other supporting documents will be brought to the passport office.

 Once your passport is available, you may pick it up from Antigua and Barbuda or the nearest Antigua and Barbuda Embassy, High Commission, or Consular Office, where you can also recite your oath of allegiance.

Gain Antigua Citizenship Through Real Estate Purchase

 Through Antigua and Barbuda's  citizenship by investment program, you can purchase real estate in Antigua and gain Antigua citizenship.

 The process is pretty straightforward. Just decide on a government-approved property, buy it, and apply for a license to own real estate in Antigua and Barbuda. Upon approval, pay all amounts owed, processing fees, stamp duties, and other fees and proceed with your purchase and citizenship application.