Will I face any kind of taxation as an Antiguan citizen after participating in the CBI program?

Answers

• 

  Kal Dobbin

  Citizens International

  December 05, 2018

  You will not be liable to pay taxes in Antigua as a new citizen as long as you are non-resident. If you apply to the citizenship-by-investment program via the donation to the government fund, there are no taxes associated with the donation. If you apply via a property investment, there will be some taxes such as stamp duty to pay upon the purchase of the property and there is a withholding tax on rental income as a non-resident. We recommend taking formal tax advice via one of the accounting firms here in Antigua.

• 

  Robert Wilkinson

  Grant Thornton

  December 05, 2018

  Antigua levies taxes based on residency, not citizenship. Having said that, Antigua has no personal income tax, no capital gains tax and no tax on worldwide income for residents. There are taxes on business profits if you establish a company or start an unincorporated business here. There are also withholding taxes on certain payments to non-residents. If you own a property in Antigua but do not live here, you must appoint a property management agent to account for and pay any taxes that may be payable on the income from your property. Any amounts remitted overseas to you by the property management agent will be subject to a withholding tax.