CONSTUCT ANTIGUA BARBUDA  INITATIVE ( CAB-I) PHASE VI

 

HOMEOWNER INFORMATION SHEET

The Government of Antigua and Barbuda, in collaboration with the Antigua & Barbuda Investment Authority (ABIA) has re-launched the successful Construct Antigua & Barbuda Initiative (CAB-I). CAB-I (2017), beginning July 1 2017, with benefits expiring June 30 2018, continues to be rooted in the principle of stimulating economic growth through increased construction and related activity. The registration deadline is March 30, 2018.

 

The main objectives of the CAB-I are to:

  • Make homeownership affordable by reducing construction costs by at least 20%
  • Stimulate economic activity
  • Create employment in the construction sector
  • Build confidence in the economy via government policy

 

Potential Homeowner Benefits:

  • Exemption of Customs Duty on locally procured construction material
  • Exemption of Revenue Recovery Charge (RRC) on locally procured construction material
  • ABST zero-rated materials and aggregates procured locally from registered CAB-I suppliers
  • ABST zero-rated services from participating service providers
  • Store discounts on building supplies procured locally
  • Reduced interest rates with participating banks
  • Reduction in the negotiation/commitment fee
  • Discounts on premiums with participating Insurance Companies

 

How does it work

Under the Initiative, homeowners access the government approved incentives of zero Antigua & Barbuda Sales Tax (ABST), exemptions of Customs Duty and Revenue Recovery Charge (RRC) on all building materials procured locally. As a part of the incentive package, other stakeholders (financial institutions, insurance firms, architects etc.) extend reduced service fees and charges to CAB-I approved clients.

 

Who can register

The program applies to citizens and residents of Antigua & Barbuda.

 

What projects are eligible?

Only new residential construction projects with a maximum overall cost of $350,000.00 by first-time homeowners are

eligible for benefits under phase VI of CAB-I.

 

What is the process for registering for benefits under CAB-I?

 

Step 1

After confirming your qualifying amount with your financial institution and your plans have been approved by Development Control Authority (DCA), make contact with ABIA and complete the CAB-I registration form and the estimate template. These can be collected at our office, emailed or faxed.

 

Step 2

Gather the following documents and make an appointment with ABIA:

  • Completed registration form
  • Copy of the signed contract/agreement with the contractor
  • Detailed estimate; prepared using the CAB-I estimate template
  • A copy of the DCA Approval
  • DCA Approved Plans (Physical and Electronic Copies)
  • Government-issued Identification (Preferably Passport or Driver’s License)
  • Non-citizen Landholding License (where applicable)
  • Residency Permit (if applying as a non-citizen).

 

All projects are subject to an assessment fee to cover quantity surveying services. The Authority will advise the amount to be paid.

 

Step 3

ABIA conducts a review of the file and sub-contract quantity surveying services. Applicants will be provided with a copy of the assessment report.

 

Step 4

Applicants are issued the CAB-I Certificate and their official CAB-I Shopping List.

CAB-I registered homeowners or their homeowner representatives are required to present a government-issued ID along with their CAB-I Certificate and Shopping List. Homeowners or their representatives must sign copies of the receipts at the point of purchase.

 

How long does the process take?

Applicants will be issued their CAB-I Certificate and Shopping list 10 – 15 business days after submission of a complete registration package.

 

Construct Antigua & Barbuda Initiative Forms:

For more information kindly contact ABIA at 481-1000/1 or cab-i@ab.gov.ag

Share