Antigua and Barbuda
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Antigua and Barbuda
About Country-
Antigua and Barbuda is a sovereign Island country in the West Indies in the Americas, lying between the Caribbean Sea and the Atlantic Ocean. It consists of two major Islands, Antigua and Barbuda separated by 63 km (39 mi), and smaller Islands. It’s a former British colony and now an independent member of the Commonwealth of Nations. Antigua is the more developed and tourist-oriented of the Islands, while Barbuda is mainly lowlands and beaches. Lying near each other, Antigua and Barbuda are in the middle of the Leeward Islands, part of the Lesser Antilles. The combined size of 442 square kilometers and a population of over 80,000 make Antigua & Barbuda the ninth-largest country by size in the Caribbean. The country’s economic citizenship program facilitates the comfort of visa-free travel to more than 100 countries.
About the Programme-
Antigua & Barbuda recognizes dual citizenship, which can prove advantageous for business expansion and tax relief. Antigua offers four CIP options. You can acquire economic citizenship from this jurisdiction through a donation, a real estate purchase, or a business investment. In addition, Antigua offers a special option for large families that includes one year of tuition at a local university. The minimum donation amount is $100,000, which goes to the National Development Fund (NDF). That donation covers the main applicant and up to three family members (a spouse and two children). For a family of five or more, the donation amount increases to $125,000.
Alternatively, you can invest a minimum of $400,000 in real estate located in an approved development area. You must hold the property for at least five years. Two related applicants—for example, two brothers with wives and families—can invest $200,000 each in the same property and qualify. The business option requires an investment of at least $1.5 million in an existing or proposed company approved by the Citizens by Investment Unit. The list of qualifying businesses includes primarily real estate and tourism-related concerns. The final option offered by Antigua and Barbuda is the newest and requires a donation of $150,000 to the UWI Fund, which covers passports for six family members. In addition, one member is able to attend one year at the university tuition free. This is the most cost-effective family program available anywhere in the world.
The government adopted the citizenship by investment program as one of the mechanisms to promote economic growth, attract developments, increase foreign direct investment to the country, support the development of infrastructure and provide for a sustainable future. As a result, investors can choose from several options to qualify for the program.
Investment Options
High net worth individuals may choose to make a monetary contribution of US$100,000 (up to four people), or US$125,000 (five people and more) to the National Development Fund or an approved charity. The main applicant may include a spouse and all qualified dependents, however government and due diligence are applicable for each individual included.
Applicants may purchase property valued at a minimum of US$400,000 in a
pre-approved real estate development area. The investment must be maintained
for a minimum of five years. Property registration, processing fees and
taxes may be paid in addition to the property purchase.
Until 31st October 2020, there is a Limited Time Offer (LTO); Two (2)
applications from related parties can make a joint investment, with each
applicant investing a minimum of US $200,000 in order to qualify.
Applicants may invest US$1.5 million to establish a business. Two or more applicants may make a joint business investment with an individual threshold of at least US$400,000 and a total investment of at least US$5 million.
For an investment of US$150,000, a family of six (6) is eligible to apply for citizenship. The investment amount includes processing and government fees, however customary due diligence fees do apply for each qualified dependent. In addition, one member of the family is entitled to a 1-year scholarship at the University of West Indies. Additional government processing fees are applicable for larger families.
Benefits-
- Full citizenship status
- Minimal requirement to visit Antigua and Barbuda after citizenship is granted: 5 days in a period of 5 years
- No interview requirement
- No English language requirement
- Low processing fees
- Dual citizenship is allowed
- Social and political security
- Visa-free travel to over 130 countries (including the UK and the EU)
- No foreign income, capital gains, gift, or inheritance tax
- Stable economy
Requirements-
Applicants for the Antigua and Barbuda Citizenship by Investment Programme must fulfil the following conditions:
- Be at least 18 years old
- Be of good character
- Have no criminal record
- Pass a detailed background check
- Be able to provide proof of source of funds
- Be healthy
- The main applicant is required to spend a minimum of 5 days on Antigua and Barbuda over a period of 5 years. All 5 days can be spent on either of the islands at the end of the 5-year period.
- Investors may apply with their spouse and dependent children, and, in some cases, dependent elderly parents or grandparents.
Mobility-
As a citizen of Antigua and Barbuda, you can travel to 150+ countries visa free which includes the UK, Schengen states, Hong Kong and Singapore. Antigua and Barbuda citizens had visa-free or visa on arrival access to 151 countries and territories, ranking the Antigua and Barbuda passport 29th in terms of travel freedom.
Procedures and time frame-
The government authority responsible for administering the program, the Citizenship-by-Investment Unit (CIU), is responsible for the processing of all applications. The CIU examines the application thoroughly and, if deemed necessary, may request the applicant to attend an interview.
The CIU undertakes strict due diligence checks and will decline an application if the applicant makes a false statement or omits any relevant information in the application. The documentary requirements of the Antigua and Barbuda Citizenship-by-Investment Program are reasonable, and the procedures are straightforward. Once the application is approved, passports can be collected in Antigua and Barbuda. It is estimated that the process will take between three and four months from the submission of the application to issuance of the passport, assuming there are no areas of concern with the application.
There is a requirement to reside in Antigua and Barbuda for a minimum of five days during the first five years of obtaining citizenship. However, the CIU has temporarily suspended this requirement due to the various travel restrictions resulting from the COVID-19 pandemic. This suspension will expire on 31 August 2021. Under the real estate option, the time frame may vary depending on the project. Therefore, it is important to select a real estate project that can provide the necessary paperwork required from the developer for the citizenship application.