Important factors to consider in residence planning
The twin-island nation of Antigua and Barbuda is home to no fewer than 365 white and pink sandy beaches providing the perfect backdrop for some of the most luxurious seaside resorts in the world. On the southeast coast of Antigua rests the Nonsuch Bay Resort, which opened its doors in 2010 with Phase 1 of its development — the construction of 62 apartments consisting of one-, two- and three-bedroom units, 15 three-bedroom townhouses and 19 villa plots. The second and current phase of development sees the construction of 188 villas on the west-facing 14-acre foreshore.
Each one-bedroom, fully-serviced Marina Residence includes a private plunge pool with a terrace leading off every room, as well as a generous furniture package. The villas have a purchase price of USD 400,000 — the required minimum real estate purchase amount to qualify for the Antigua and Barbuda Citizenship-by-Investment Program.
What makes this investment option so attractive is that the property can be sold and the money invested recouped after a five-year lockout period. Investors also don’t have to reside in Antigua permanently and can enter their property into the rental program to take advantage of the demand for rooms in the resort. Investors opting to rent out their properties can also benefit from the program’s onsite property management. Revenues of an estimated 6% return of the net cost associated with ownership of the suites can be expected.
Antigua & Barbuda is one of the biggest tourism drivers in the Caribbean — tourism accounts for 60% of its GDP — making it a key economic pillar in the region. The landscape offers a remarkable coastline and, along with excellent conditions and facilities, makes it the sailing and yachting mecca of the Caribbean. Various world-renowned yachting and sailing events are hosted in the island’s water each year, including the Round the Island Race, Super Yacht Cup Antigua, and the International Laser Open. It is only fitting that the second phase of development for the Nonsuch Bay Resort includes the construction of a mega-yacht marina that can berth yachts over 60 m, a yacht-service facility, as well as additional restaurants, clubhouses, a retail area, and a helipad.
Antigua is a member of the United Nations, the British Commonwealth, CARICOM and the Organization of American States, among other international organizations. Antiguan passport holders enjoy visa-free travel to 136 countries, including the UK, Canada and the countries of the Schengen area.