Mundo’s freedom rating is a scale from 1 to 50 in which we assess each country under different aspects. These are political stability, lifestyle, tax environment, investment potential, and safety. This section intends to give readers a clear and general picture of the country’s scenery considering its advantages and disadvantages from a realistic point of view. 

Political Stability (8/10)

The political and legal system in Antigua and Barbuda is based on English law. Therefore, it presents a solid legal framework. This has granted the country a steady political environment over the years. 

The government system is a unitary parliamentary representative democratic monarchy. The head of state is the British sovereign and her representative in Antigua and Barbuda is the governor-general. 

Throughout its history, Antigua and Barbuda hasn’t suffered from violent changes in politics nor social turmoil. This country has never been struck by the dark forces of communism and socialism. Antigua and Barbuda’s culture and idiosyncrasy are based on hard work, self-development, and respect for businesses. 

Like other Caribbean nations, Antigua and Barbuda established anti-corruption measures but has yet to improve in this aspect. The country is still not covered by the CPI (Corruption Perception Index) but we can consider other ratings. 

For example, it scored 0.28 (from a -2.5 to 2.5 scale) in the World Bank’s Worldwide Governance regarding corruption control. This number doesn’t place Antigua and Barbuda among the most effective anti-corruption governments, yet it shows a fair level of corruption control, which is higher than other jurisdictions. Other rankings show discouraging numbers in this regard, with a 61.11 score when it comes to corruption and bribery. 

Although the country has made progress regarding this matter, it’s clear that it still needs improvement. On the other hand, the British parliamentary system and the country’s own idiosyncrasy have made Antigua and Barbuda a stable political environment for many years. For this reason, we give it an 8/10 score.

Personal Safety (8/10)

Antigua and Barbuda is one of the safest countries in the region. There are very few cases of armed robbery, murder, or violent offenses, but it’s possible to encounter petty crimes and pickpocketing. Moreover, attacks on tourists and ex-pats are very rare. 

In 2018, Antigua and Barbuda was considered the safest country in the West Indies, according to the Overseas Security Advisory Council’s statistics. Since then, it has shown the lowest violent crime rates in the Caribbean region. Property crimes and vandalism are moderate, as well as violent assaults.

The country is a safe place to visit and a wonderful relocation destination. It’s perfectly safe to walk alone during the day, yet, we recommend having certain precautions. Watching one’s belongings is a good idea, as well as putting away expensive items like cameras, jewelry, or music players. It’s also advisable to be aware of one’s surroundings. With these precautions, there are very few chances for you to experience an unpleasant situation. 

While there is a vibrant nightlife with plenty of restaurants and entertainment offers, we recommend not walking alone at nighttime. Also, it helps to take only enough cash and credit and debit cards with low daily limits. 

Antigua and Barbuda is known for its beautiful isolated beaches. Some examples of these are Coco Bay, Carlisle Bay, and Darkwood. These are ideal options for escaping the massive tourist spots and live a true Caribbean laidback experience. However, it might be a good idea not to go to such places alone. You will be safer going in a group. 

While Antigua is a safe place, minor crimes might occur, that’s why we give it an 8/10.

Investment Potential (10/10)

This island nation is one of the most prosperous in the Caribbean. Its main industry is tourism offering incredible landscapes, tropical beaches, top-class resorts, luxury hotels, and warm hospitality. 

This is the major contributor to the GDP. In 1999, for example, tourism contributed to the local GDP by 60% and more than half of the local job positions were tourism related. 

Nonetheless, since this country is located in a hurricane zone, it had to open up to other income sources and industries. Thus, it managed to diversify its economy. Now, the major industries other than tourism are telecommunications, agriculture, and financial services. 

In line with this, the government launched a few incentive programs to encourage foreign investment and generate a stable financial flow. Among these incentives and following the example of its neighbor country, St Kitts and Nevis, Antigua and Barbuda launched a citizenship by investment program. With this, investors can have twice the benefit because they invest in a safe economy and also obtain a passport. 

This country is a vibrant business center for many reasons. Its convenient location makes Antigua and Barbuda an attractive hub not only for tourists but also business people from around the world. It has direct flights to the US and the UK and is in the same time zone as New York City.

This nation offers a stable investment environment in a booming economy. As proof of this growth, we want to name the expansion plans for the port and airport and the large-scale real estate projects being constructed. 

Investing in a property in the Caribbean has many advantages because it can bring capital gains or rental income. But the advantages are enhanced by the citizenship by investment program. The applications can be made through real estate investment and state donation, like with most programs. To become eligible, investors must purchase government-approved real estate and must maintain the property for five years before being able to sell.

The Antiguan passport opens many doors offering visa-free access to the UK, Canada, and the Schengen area. Also, residents can benefit from a variety of tax incentives. 

Contrary to what many believe, Antigua and Barbuda offers high-class tech services. This makes it an excellent place where to start tech-related businesses or conduct activities that require sophisticated operations. 

Another reason why this country is chosen as a financial destination by many is its banking sector. Its private banking services are top-notch and the country has a reliable financial framework. The oldest bank in Antigua has been operating for over 30 years and meets the private banking and wealth management needs of investors all over the world. 

Clear proof of the country’s financial and long-term stability is represented by the Caribbean alliance insurance Co. Ltd. This is the largest insurance company in Antigua and demonstrates the solidity of the private corporate sector in this nation. 

As stated above, the real estate sector brings incredible opportunities. Foreigners can acquire colonial houses or luxury apartments ranging from $255,000 to $12,000,000. Government transfer fees are 2.5% and legal fees can cost around 1%-2%. Foreigners who wish to buy a real estate property need a special permit called Non-Citizens Land Holding license. This permit costs approximately 5% of the sales value. 

The combination of purchased property and the citizenship by investment program brings enormous benefits. Investors can choose from a variety of projects as long as they are approved by the government. 

The most popular investments for this purpose are luxury real estate tourism-targeting projects. Thus, investors can get important returns after selling the property (after 5 years) or through rental income. 

Some of these projects offer luxury amenities like infinity pools, a private beach, a resort shop, a private boat dock, and many activities. Visitors will be able to sail, kitesurf, and visit first-class restaurants and spas.

A unit in such a resort can cost 400,000$ approximately and in some cases include the furniture package. In all cases, the investor gets full titled ownership and the corresponding property deed. 

Thanks to the almighty combination of real estate + CBI program, its top-class private banking services, and solid framework, we give Antigua and Barbuda 10/10. 

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Lifestyle 10/10

What can we add about this country’s amazing lifestyle? Life in the Caribbean is great for those who love warm weather, summer activities, diving, etc. All this can be acquired at a 20% lower price than in the USA, Canada, and the EU.

As a former British colony, Antigua and Barbuda’s official language is English. This is an incredible advantage for foreigners as they can use English in their daily lives and business transactions (bank account opening, property purchasing, etc.).

Antiguan people usually speak with a hard-to-follow accent and occasionally strange words. This is Creole English, a dialect spoken mainly in the Caribbean nations. 

Those who are not used to tropical weather might have to cope with mosquitos, ticks, fleas, and other bugs. Despite the unpleasant bites, these insects can sometimes carry diseases, some of which don’t have a vaccine or a cure yet. Hence, we highly recommend taking the necessary precautions when hanging out outdoors in the evening and at night. 

Another interesting aspect of the island’s lifestyle is its vibrant nightlife. It offers a wide variety for every type of audience from married couples to families and single people. The main entertainment places are located in St John’s where you will find nightclubs and bars operating from Thursday to Sunday. 

The main spots for social gatherings are in the capital and along Dickenson Bay, English Harbour, and Jolly Harbour. They are home to open-air bars and charming restaurants. Residents can also enjoy casinos, cinemas, and sunset cruises for a spectacular Caribbean experience. 

Expats can enjoy all the amenities of modern life with excellent public services. Generally, tap water is drinkable, yet, some ex-pats prefer to drink bottled water. 

Regarding transportation, we recommend having or renting a car. The island is so small (108 miles long) that is very easy to move around and you can find what you are looking for in only a few hours. 

Another important aspect to consider is currency. There are two types of currencies used on a daily basis: the American Dollar and the Eastern Caribbean Dollar. While the latter is the official currency, the former is widely used and accepted in almost every store. 

However, the goods and services are labeled with the same symbol ($) for both currencies. Hence, we recommend confirming the price before buying.

Antigua and Barbuda has all the points in favor when it comes to lifestyle: tropical weather, wide entertainment options, vibrant nightlife, English as the official language, and a stable currency paired to the US dollar. It also boasts a unique location in the Caribbean sea and is a few hours away from many major cities. For this, we give Antigua and Barbuda 10/10. 

Taxes 9/10

This is one of the key parameters of this ranking. A person won’t have absolute freedom if they live in a high-tax country with a controlling government. When choosing a new plan B relocation place, business people need to consider taxes very carefully. 

Luckily, Antigua and Barbuda offers tax incentives for individuals and corporations. These are some of the facts you need to know about this country’s tax regime: 

-The corporate tax on gross income is levied at a flat rate of 25% a year. This applies to companies and branches. 

-Companies are not subject to capital gains tax. 

-Dividends are taxed, but losses can be carried forward up to six years. With this strategy, it’s possible to reduce the taxable income by 50%. 

-Companies must register in the VAT regime (Antigua and Barbuda Sales Tax or ABST) with the rate being15%. In some cases, it’s possible to request an exemption and hotels enjoy reduced rates (12.5%). The VAT must be filed annually along with other types of taxes and through the revenue department. 

-Companies must register in the VAT regime only if their taxable income reaches or surpasses the 300,000 XCD. 

-The buying and selling of shares are taxed at 5% for the seller, while the buyer pays 2.5%. 

-Antigua and Barbuda applies taxes on unincorporated businesses that vary between 0% to 25% of the gross income, independently if this is derived from foreign or local sources. 

-Non-residents are subject to unincorporated business tax only on the income generated inside the country’s territory. This type of tax is due quarterly. 

-The government offers tax incentives that depend on the type of business and registered structure. 

-Antigua and Barbuda imposes a property tax on residential and commercial real estate with rates varying from 0.2% to 0.5% of the property’s market value. The amount due will depend on how the property will be used. 

-Non-residents who own undeveloped land must pay a tax as high as 10%-20% of the land’s value. 

-Stamp customs also apply to a property’s sale. While the seller pays 7.5%, the buyer is subject to a 2.5% rate. 

-No personal income tax, no inheritance tax. 

-The country enjoys several double taxation agreements that offer full exemptions or tax credit. 

-While the country applies custom taxes on imported goods, it’s possible to get a recovery charge when the goods are imported but produced inside the country. 

Since residents are free of income tax, acquiring tax residency in Antigua and Barbuda can help a person’s financial plan. 

Due to its income tax and inheritance exemption, this country offers an advantage over many others. However, the corporate rate is 25%, not as high as a major world power, but not as low as one would expect in a financial hub like this. For this reason, we give it 9/10. 

Total score: 45/50

What Can We Do for You 

Thanks to our wide network of experts across the world, we can offer comprehensive financial services and combined structures, especially for family offices. 

We are part of a corporate group and work closely with a trustee firm. Our experts have been providing services and citizenship by investment in the Caribbean since its creation. Therefore, we have contacts in all the Caribbean financial centers including Antigua and Barbuda. If you want to establish tax residency, acquire a passport or register a company, our experts can help you. Contact us now and get a consultation. 

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