Danielle Aguirre
The latest country that was admitted into the World Tourism Organization (UNWTO) is Antigua and Barbuda. This did not come as a surprise to many because these twin Islands in the Caribbean have been welcoming tourists numbering hundreds of thousands non-stop since the 19th century. After the United Nations General Assembly in December 2021 where the country was admitted into the UNWTO, many investors have been looking for investment opportunities in the country and trying to find out to what extent the government will support foreigners that are willing to invest in the country.
A number of journalists asked Ambassador Dario Item, the Antigua and Barbuda permanent representative to UNWTO who was present at the General Assembly, a number of questions on the investment opportunities that are available in the country.
Congratulations Ambassador Dario Item. Your country has just been admitted into the UNWTO. How will this provide investment opportunities in your country?
Ambassador Dario Item: “Thank you. Our country has always been an investment-friendly country. Every year, we have about a million visitors and with this new development, we are expecting more and more visitors in the years to come. These visitors need to be accommodated, entertained, fed, and given utmost satisfaction. We definitely need investors in real estate, entertainment, and the boat cruise industry.”
One factor that is considered by investors is safety. How safe is your country especially for investors?
Ambassador Dario Item: “My country is one of the safest in the world. We have a very low rate of crime, money laundering, and even cybercrime. You can check for yourself. Our country is one of the safest in the Caribbean and that is possible because we have a population that is highly educated.”
What support is the government willing to give to foreign investors?
Ambassador Dario Item: “I will simply say the foreign investor is our citizen too. We do not discriminate in Antigua and Barbuda. The government treats foreign investors the same way they treat local investors. In case you are hearing this for the first time, you can become a citizen of our country by investing in it.”
Taxation is another factor to consider when making an investment decision. Can you please tell us your tax system and how favorable it is to foreign investments?
Ambassador Dario Item: “Barbuda and Antigua is one of the few countries in the world that does not have provision for income taxes. We operate a taxing system that is fair, transparent, and competitive. I do not want to mention the name of any country but if you can pay taxes in your country, then the taxing system in Antigua is nothing to worry about.
Can you please tell us more about the real estate investment opportunities available in your country?
Ambassador Dario Item: “There is a constant demand for hotels, luxury apartments, lodges, and even beachside properties. We have a million temporary residents every year. Just think of what they’ll need and you can come over and invest with us.”
While many foreigners visit Antigua and Barbuda for the purpose of tourism, there are others who are interested in the economic opportunities available in the country. Are you one of those? Even if you have not considered investing in Antigua and Barbuda, is there a niche that is of interest to you? If you answer yes to any of those questions, do not hesitate to go a step further. Antigua and Barbuda is met for people like you. Come and explore the small country that welcomes tourists that is up 1000% of its population every year.