AN OCEAN OF OPPORTUNITIES

When you take a look around the beautiful islands of Antigua & Barbuda, it may seem like a no brainer as to why someone would want to invest in real estate there. Who wouldn’t want to own a home in one of the most spectacular places on earth, just a hop, skip and jump from the major cities in North America and Europe? But naturally, savvy investors don’t just buy property based on beauty and accessibility – although admittedly these are also pretty good reasons themselves – but on knowing if they are making a sound purchase.

But did you know, real estate investment is just one of the many opportunities to be found in these islands? In a country where tourism is the mainstay of the economy and visitor arrivals are surging year on year, it isn’t surprising to learn that tourism opportunities abound. But other sectors such as renewable energies – Antigua & Barbuda being one of the most ecoconscious nations in the region, if not the world – the already well-established, and sophisticated financial sector, and IT-enabled services are also ripe for investment amongst many others.

Furthermore, investing through the country’s Citizenship by Investment Programme (CIP), whether in real estate or in any of the business opportunities available, provides the investor with opportunities for healthy returns as well as qualifying them for citizenship. Naturally, it is always reassuring to know that a country where you are making a not-insignificant investment has the right climate – and we’re not just talking about the attractive, balmy Caribbean weather here – but the country’s welcoming investment climate. The symbiotic relationship between rates of investment and economic growth has always been recognised. And Antigua & Barbuda are known for being small but mighty in many aspects, including their economy.

With the fastest-growing economy in the whole Caribbean Community (CARICOM) area, the country recorded economic growth of 5.3% in 2018 according to the UN Economic Commission for Latin America and the Caribbean (ECLAC). In all, the dual-island nation has experienced five straight years of economic growth, a trend which is expected to continue throughout this year. Pretty impressive for any country let alone one with a population of less than 100,000, albeit an educated and skilled one. As often goes hand in hand with economic growth, the political situation is also stable, as well as the fact that Antigua & Barbuda is one of the safest nations in this part of the world. Forming part of CARICOM and OECS and having its currency, the Eastern Caribbean dollar, pegged to the US dollar doesn’t hurt either. Nor does the country’s generous financial incentives for its investors, or it being part of the Commonwealth and benefiting from a Common Law system based on the United Kingdom. For a small island, academic institutions are surprisingly numerous, including world-class schools with one offering the prestigious international baccalaureate and the University of the West Indies (UWI) opening their fourth campus in Antigua in September. Medical schools and professional training institutes, including hospitality and technology, provide training and skills to the local population.

The islands are also trailblazers in the quest for removing single-use plastics and sustainability, and the new home for a stem-cell medical centre as well as the first Caribbean country to launch a science and innovation centre which encourages entrepreneurship to combat climate change and develop clean technologies. There is a high priority on telecommunications and ICT infrastructure which facilitate national development and the installation of informationintensive businesses. Coupled with the fact that the islands are only four hours to New York and eight to London and daily flights are available to other major cities in North America, doing business from the Twin Islands is easier than ever. It’s not therefore completely surprising that the property market is on the increase in Antigua & Barbuda thanks to the high-end developments cropping up around the island offering foreign buyers a chance to buy into once-in-a-lifetime projects. Boosted by, but not limited by, those seeking a CIP option to become citizens of this paradise, never before have the islands offered so much variety and opportunity. With no inheritance tax or capital gains in the islands, investors are furthermore providing for their future generations. So, the question isn’t really why invest in Antigua & Barbuda – but when?

For further information:

www.cip.gov.ag/investment-options/business-investment | www.investantiguabarbuda.org