The Antigua property market is set to receive a welcome boost from the launch of a new Citizenship by Investment programme tied to investment in real estate.
Following a lengthy public consultation process, the Government of Antigua & Barbuda has announced that vetted applicants who invest a minimum of US $400,000 in eligible real estate in Antigua & Barbuda, contribute between US $250,000 and US $400,000 to a National Development Fund or invest a minimum of US $1,250,000 in an eligible business will be able to apply for citizenship of Antigua & Barbuda.
Regional Caribbean neighbours St Kitts & Nevis and Dominica already have second passport schemes in place. The St Kitts & Nevis scheme, which also requires a minimum investment of US $400,000 in real estate (in an approved property development) or a contribution to the Sugar Industry Diversification Fund, has provided a significant boost to the property market in St Kitts & Nevis.
The Antiguan Government has announced that the Citizenship by Investment Programme is to become law by the first quarter of 2013 and is expected to promote economic growth, attract developments and support the development of infrastructure. The Economic Citizenship Programme is not without its critics, but the Prime Minister Baldwin Spencer was reported in the Antigua Observer as reassuring the people of the two island nation that "we are totally satisfied it can be a major boost to our economy... in this country. All we have to do is to ensure that we plug all the holes and ensure we have a wholesome system."
7th Heaven Properties, the Caribbean property specialists, can introduce investors to a very wide selection of luxury homes for sale in Antigua & Barbuda. The property below is just a sample.
4 Bedroom Oceanfront Luxury Home, Dickenson Bay, Antigua
Located between the world famous Dickenson Bay and Runaway Bay on the headland of an exclusive gated community, this newly completed Antigua property for sale boasts spectacular views of the azure Caribbean Sea.
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| 4 Bedroom Oceanfront Luxury Home, Dickenson Bay, Antigua |
With 8,000 square feet of wonderfully planned living space, this secluded beachfront estate comprises a large living and dining room and fully equipped kitchen, all opening out to a magnificent infinity-edge swimming pool.
The master suite features his and hers bathrooms, walk-in closets and private terrace area. All bedrooms have high ceilings, en-suite bathrooms and walk in closets. Owners will have the option of a private service dock in the adjacent marina.
To enquire about this luxury home, or for information on many other properties for sale in Antigua & Barbuda, please contact us.Labels: Antigua Property, Antigua real estate, citizenship-by-investment, economic citizenship, second passport