Buying Guide

The process of acquiring a property in Antigua is relatively streamlined and simple. However, we strongly recommend having a local agent help you with the real estate transaction. Both foreign nationals and companies, registered in and outside the country, can purchase and own real estate on the islands, subject to holding a Non-Citizen Land Holding License, which processing time can take between three and six months. Depending on the value of the property, CIP  may be a favourable option to acquiring a Non-Citizen Holding License.  

Here is an overview of the costs involved in the transaction as a buyer: 

 >  Non-Citizen Land Holding License is 7% of the purchase price

 >  Government transfer tax /stamp duty is 2.5% 

 >  Legal fees are 1% – 2% depending on property value 

 >  There is no capital gains tax or inheritance tax 

 >  Properties are registered at the Land Registry 

 >  Agency commissions are paid by the seller of the property 

Purchase Procedure

 > Verbal offer and acceptance & appointment of an attorney-at-law 

 > Reservation fee required to take property off the market in preparation of     

     sales contract and payment of  a 10% deposit of the property value to the

     vendor’s attorney-at-law. The remaining 90% of the balance due is paid at

     time of completion. (Approx. three months)

 > The freehold title may be in an individual’s name or through a corporate

     vehicle set up to own the property. Non residents can purchase property 

     through a company which may be incorporated in-or-outside of Antigua.

>  Overseas purchasers can secure a mortgage through a bank in Antigua but

     interest rates are higher than in the UK, Canada and the US. 

Selling Guide

First impressions are very important, and in real estate, there are no exceptions. An organized and neutral home stands out better in photos and shine during showings, increasing the likelihood of your property selling faster and at a higher price. It is important to ensure that every room looks inviting and airy in order to offer prospective buyers a glimpse into how each room can be utilized. As part of the sales process we would be happy to offer our expertise in this regard.

Upon signing a property sales agreement, we would need the following documentation to be prepared as stipulated below to enable us to facilitate the necessary answers with no delay, showing in-depth knowledge of the property and keep the buyer engaged. 

1. Floor Plan (if available / applicable)

2. Plot Plan

3. Original title deeds 

4. Property description, including upgrades, specific materials and/or other 

    advantages worth mentioning 

5. Inventory of all items included in the sale

6. Rental income for the past 3-5 years (if any)

7. Summarized annual running costs for the past 3-5 years (where possible)

     Land Tax Bill | Insurance | Electricity | Water | Internet, Cable, Phone |   

     Gardening | Housekeeping | Pool Maintenance | Property Management |

     Other expenses including renovations etc.

8. Keys to the property for viewings and for handover at close (if applicable)

Sales Procedure

 >  Verbal offer and acceptance 

 >  Appointment of an attorney-at-law 

 >  A reservation fee is required to take property off the market in preparation

      of a sales contract when 10% is due. The remaining balance is paid on completion. 

 >  Vendor of the property is responsible for 7.5% transfer tax/stamp duty to

      government  

 >  Agency sales commissions is paid by the vendor