Antigua Buyers Guide for Antigua Property sales

Buying property on Antigua is relatively easy, but the process needs to be completed by a recommended local lawyer or an International lawyer who has experience in Antigua property transactions.

  • Once an offer is made and accepted, in most cases, a minimum of 10% deposit will be required for the purchase of property. This deposit will be held in escrow by a third party escrow agent. In addition, all foreign buyers are required to apply for a non-citizen land holders licence which is handled by a local attorney. The fee for this licence is 5% of purchase price and can take anywhere between 3-6 months for completion.
  • Stamp Duty is payable by both the buyer and seller. Buyers pay 2.5% of the purchase price; the seller pays 7.5%. For certain projects (such as at Jolly Harbour), Stamp Duty is waived in favour of a 3% tax.
  • If you are a seller or in cases of commercial property, VAT at 15% is payable to the Antigua Government. VAT is also payable on real estate agents’ commission whether in connection with a private or commercial sale.
  • Legal fees usually range between 1-2% of the purchase price. Your attorney is responsible for the transfer of title on your property as well as to ensure your transaction is legally protected.
  • Non-citizens are also required to pay an additional 3% government tax.
  • Financing is available (subject to meeting the required criteria) through various banks but interest rates are relatively high, ranging between 8-13%. It is best to talk to your real estate agent who should have some recommendations on which local banks work with foreign buyers.
  • Properties are generally sold on a freehold / fee simple basis.
  • All properties are registered at the Government Land Office. There is no title insurance.
  • Commissions charged to sellers are generally between 5-7%
  • Home Insurance on a property is around 1% of the value of the property with a deductible of 2% of the property value in the event of any claim but if you are a non-resident, you should look into policies offered in your country of residence as these may cost less.
  • Building costs range from US$150 per square foot but can be much higher depending on the quality of finish required and whether there is to be landscaping or a swimming pool.

As is common throughout the Caribbean all costs related to buying real estate are paid to and handled via your appointed lawyer.


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