Antigua and Barbuda’s CIP continues to demonstrate its responsiveness to market needs by streamlining the application processing framework to ensure seamless client services delivery even as physical lockdown was imposed on global businesses as a result of the COVID-19 pandemic. Chief Executive Officer of the Citizenship by Investment Unit (CIU), Charmaine Quinland-Donovan, was excited to share with IFC Media that the CIU remained open for business to serve investors as they explored safer and more viable alternatives in a very uncertain period. The dedicated team of professionals at the CIU continues to diligently process applications, completing them in as little as six weeks. Furthermore, keen attention continues to be placed on the investment offerings to maintain their attractiveness and continued alignment with the ever evolving needs of the market.
Why Antigua And Barbuda Citizenship by Investment Programme?
- Visa-free access to more than 150 countries, including Hong Kong, Singapore, United Kingdom, and Schengen area.
- Decision rendered in 60 to 80 days on most files.
- No restrictions on dual nationality.
- Citizenship for life, once residency requirement is met.
- Straightforward application process; no minimum net worth requirement or previous business experience.
- No tax on worldwide income, inheritance, capital gains, or investment returns.
- Stable economy and democracy.
- Modern health care system and facilities.
- Well-established legal and regulatory framework, supporting civil and commercial relationships.
- Well-educated workforce, skills and abilities for the modern workplace.
- Internationally comparable education system for all ages.
- No annual application quota.
- Experience the warmth of the people stemming from the country’s long history in high-end tourism.
- Paradise becomes your home.
In addition to visa-free travel, eligible investors have the right to reside permanently on the two islands which comprise this beautiful gem of the Caribbean. The recent elimination of personal income tax makes it even more attractive.
What Are The Available Investment Options?
Applicants must be 18 years or older and may include their dependent, spouse, children, parent, in-laws and grandparents in the application using any of the four available investment options.
Option 1 - National Development Fund
- Single applicant up to a family of four makes a contribution of US$100,000 and processing fees of US$30,000.
- Where the family includes five or more individuals, the required contribution is US$125,000 with processing fees of US$30,000 and US$15,000 for the fifth and each additional dependent thereafter.
Option 2 - Investment in Approved Real Estate
- An application may be submitted for investment in an approved property, valued at a minimum of US$400,000.
- An application may be submitted for investment in an approved property, valued at a minimum of US$200,000
- Two applications from related parties can make a joint investment in an approved property, with each applicant investing a minimum of US$200,000 in order to qualify.
- Processing fees for a single applicant up to a family of four are US$30,000. For the fifth dependent onwards, an additional US$15,000 in processing fees is required.
Option 3 - Investment in an Approved Business
Where a person proposes to make an investment in an approved business, two thresholds apply:
- A minimum of US$1,500,000 for a single investor.
- A minimum of two persons to make a joint investment in an approved business of at least US$5,000,000 where each applicant is required to make an investment of at least US$400,000.
- Processing fees for a single applicant up to a family of four are US$30,000. For the fifth dependent onwards, an additional US$15,000 in processing fees is required.
Option 4 - University of the West Indies Fund
- A family, consisting of a minimum of six individuals, makes a contribution of US$150,000 (inclusive of processing fees). For the seventh dependent onwards, an additional US$15,000 in processing fees is required.
- One member of the family is eligible to one year free tuition at the University of the West Indies Five Islands Campus.
What Makes The Antigua And Barbuda Programme So Successful?
- There are several factors that contribute to the rapid success of the programme, which include the Unit’s highly competent staff drawn almost exclusively from the private sector.
- With a turnaround time of 60 days on average, the CIU has quickly become one of the most efficient units in the region, surpassing countries that have been in the industry much earlier.
- Antigua and Barbuda has maintained a strong presence in the high-end tourism sector for more than five decades which resulted in high quality infrastructure and has propelled country as an attractive portal for those seeking to invest in exquisite real estate.
- The twin-island state had the opportunity to learn from the already-established programmes and to model its real estate offerings and escrow arrangements to support a robust programme. In order to assure investors that developers will deliver quality real estate, the CIU exerts some control over the management of escrow funds.
- The CIU has been very visible in the international community by participating in various industry conferences and establishing a strong presence in a number of high-quality publications. This visibility, along with the culture of efficiency, a robust due diligence process, transparency, and accountability of the programme made international industry partners confidently promote Antigua and Barbuda as the number one programme in the region.
- As far as innovation is concerned, Antigua and Barbuda was the first Caribbean nation to permit investment in approved businesses. Other programmes have since integrated this feature. We were also the first to expand the investment offerings to include the opportunity to live and study for a year in the country.
How Has Antigua and Barbuda Benefited from The Programme?
- Over the life of the programme, Antigua and Barbuda has seen a resurgence in the country’s real estate sector and renewed interest in the hotel sector. This economic boost has allowed for environmentally responsible projects such as solar energy and reverse osmosis to be developed.
- The local populace has also benefited from direct contributions to social development schemes. Additionally, the construction boom expected as a result of the programme will create more employment opportunities to improve the economic livelihood of national Antiguans and Barbudans.
- Looking to the future, the country anticipates that the revenue flows from CIP will assist in fostering cottage industries such as agro-processing, improve the agricultural sector, and support the creation of new industries, thereby ensuring diversification of the economy.
For more information about the Antigua and Barbuda Citizenship by Investment
Program, go to cip.gov.ag or email info@cip.gov.ag.
