Finance and Investment in Antigua and Barbuda - December 2010
The official government website misleads investors.
It clearly states that no investor has ever had their property nationalised o expropriated.
This is entirely false.
However, the government's misleading and untruthful claims are reproduced from it website in full below:
Foreign investment in Antigua and Barbuda is welcomed and provides a hospitable environment and generous incentives to encourage such investment.
The government is keen to assure investors that their investments are secure and well protected. Therefore, Investment Protection Agreements have been signed with the Federal Republic of Germany (For the text of the Treaty with Germany, click here.), and with the United Kingdom (For the text of the Agreement with the UK, click here). (Sic - editor's note the hyperlinks are missing from the government site but are properly avaiable under BiLat Investment Treaties elswhere on this site )
In a world of coups and crises Antigua and Barbuda is a paradise for the businessman. It has both a pleasantly tropical climate throughout the year and a long tradition of political stability based on parliamentary democracy.
While the Government intervenes in the economy as a regulator in some instances, the private sector is the dominant force in the economy. The government and the ruling Antigua Labour Party are committed to upholding the principle of free enterprise and this pledge is shared by the main political parties. Successive governments have respected the agreements and commitments made between previous administrations and investors.
No investor has ever had assets nationalised or been forced to leave the island. Under the island's constitution, property can only be nationalised in exceptional circumstances and even in such cases the country's constitution demands that fair compensation must be determined by an independent authority and must be paid promptly. This constitutional requirement is unusual in developing countries and casts Antigua and Barbuda in a very attractive light for investment.
High Commission for Antigua and Barbuda 2nd floor, 45 Crawford Place, London W1H 4LP
