Your Return on Investment
You Will Earn
As a Pleasure Cove Resort & Spa property owner and a successful applicant to the Citizenship by Investment Program (CIP), you will receive a valuable Antigua and Barbuda passport as well as title ownership of a luxurious condominium in one of the prime locations in Antigua.
After you purchase the property, you will be required to enter into a property management and revenue rental pool agreement with the management company, Pleasure Cove Resort Ltd. 25% of the net adjusted revenue (net adjusted rental revenue equals the gross rental revenue minus the capital reserve allocation, the credit card commissions and the booking agent commissions) will be held for distribution to all investors collectively. Each investor will then earn a prorated portion of the 25% of the net adjusted revenue based on their specific weighted percentage of the total unit pool based on the price associated with each unit.
The capital reserve allocation is subtracted from the gross rental revenue automatically so that you will never be required to pay a special levy to cover the cost of refurbishing or maintaining your unit. By making this deduction, the management company ensures that your unit will be kept in pristine condition at all times, thereby maintaining the value of your property.
Your Investment Costs
As with any condominium purchase program, you will be required to pay a condo fee. At Pleasure Cove Resort & Spa, this fee is set at $2,745 US quarterly for the one-bedroom condominiums and $5,490 US quarterly for the two-bedroom condominium. The condo fee is payable annually in advance, for your convenience, and includes property insurance premiums and your contributions to common expenses.
Your Net Return
When you purchase a Pleasure Cove Resort & Spa unit for a minimum of $450,000 US, you will receive a projected average five-year return of 3.07% when Pleasure Cove is in operation.