A member of the Commonwealth of Nations, Antigua and Barbuda comprises the two main islands of Antigua and Barbuda and several smaller outlying islands. The islands blast of sunshine around the year with white beaches and crystal clear waters. Tourists visit the islands across the year from the United States and Europe. As a result, Tourism makes up over 50% of the GDP of the country. The Government has tried to diversify the economy and of late manufacturing industries and the education sector has also developed. New Financial institutions have also started to open offices in the islands owing to the business-friendly policies of the Government.
Antigua and Barbuda
The Antigua and Barbuda Program (CIP) was introduced in 2013 and emerged as one of the most favored programs in the world owing to the wide variety of investment options and the applicant friendly process. The Antigua and Barbuda Citizenship by Investment program is governed through the new Antigua and Barbuda Citizenship by Investment Act, 2013. The entire program including the application process is run by a special unit called Citizenship-by-Investment Unit (CBIU). The Passport is issued for 5 years and will be considered for renewal if the applicant spends 5 days in the country during the previous 5-year period.
Basic Eligibility for Antigua and Barbuda CIP
The Antigua and Barbuda CIP is open to all individuals who fulfill the requirements laid down by law. The program is however not open to the citizens of Iran, Afghanistan, Iraq, North Korea, Somalia, and Yemen. The citizens of these six countries may, however, be considered for citizenship after a long due diligence process if they are permanent residents of the UK, USA or Canada.
The basic eligibility for an applicant is:
(a) he/ she is at least eighteen years of age;
(b) submits all documents as required;
(c) Makes the required investment.
The following applicants are not considered eligible:
(a) The applicant has provided fraudulent information in his application.
(b) When any family member is suffering from a contagious disease or a serious health condition.
(c) Conviction in any country for a criminal offense with the punishment of imprisonment of over 6 months.
(d) The applicant is under criminal investigation
(e) Applicant is a security risk to Antigua and Barbuda or any other country.
(f) The applicant has been denied Visa to any country which provides Visa-Free Travel to an Antiguan Passport Holder.
What are the requirements for investment?
There are three modes (any to choose) through which an applicant can make an Investment in Antigua and Barbuda-
a) Contributing to the National Development Fund (Government Fund)
A contribution of $200,000 may be made to the National Development Fund for every application. The contribution has to be paid only by the main applicant and dependents need not pay any additional contribution. However, the dependents will need to pay other fees including Due Diligence Fee and Processing Fee.
The second option is to make an investment in approved real estate and the investments to be made are provided below.
b) Investment amounts for Approved Real Estate
The investment in an approved real estate project has to be made after the application is preliminarily approved. The minimum investment value for the applicant choosing this option is $400,000. Applicants may also invest in projects, but each applicant has to contribute a sum of $400,000.
The real estate may only be purchased in approved projects and cannot be resold before 5 years
c) Investment in an approved business
Applicants may also invest in a new or existing business. The Antigua and Barbuda Investment Authority (ABIA must, however, approve the business plan). Where a single person invests, he must make an investment of a minimum of $1,500,000. In case there is a joint application of two or more persons, the investment must be for a minimum of $5,000,000 and each applicant must contribute a minimum of $400,000.
Dependents eligible for application
Dependents are also eligible to apply for a residency along with the main applicant in the Antigua and Barbuda CIP. The following persons apply for such an application:
a) Spouse of the main applicant
b) Children below 18 years or if between 18 and 26 years they must depend on the main applicant and must be in full-time education in a higher educational institution.
c) In the case of parents or grandparents of the main applicant or spouse, they must be above 65 years must economically dependent on the main applicant.
d) Mentally or physically differently abled children above 18 years.
Cost of the program
The applicants for the Antigua and Barbuda CIP have to pay the following fees for their application:
a) Government Fee:
|Principal applicant||USD 50,000|
|Dependent child aged 0-11 years||USD 25,000|
|Dependent child aged 12-17 years||USD 25,000|
|Dependent child aged 18-25 years||USD 50,000|
|Dependant parents and grandparents above 65 years||USD 50,000|
b) Due diligence Fee.
|Principal applicant||USD 7500|
|Dependent child aged 0-11 years||USD 0|
|Dependent child aged 12-17 years||USD 2000|
|Dependent child aged 18-25 years||USD 4000|
|Dependant parents and grandparents above 65 years||USD 4000|
c) Other Fee
- Passport Fee for each person: USD 300
The time duration for procedures under the program
The application has to be made with the complete amount of due diligence Fee and 10% of the Government processing fee.
Within three months of the submission of the application, the result of the application is communicated. If approved in principle, the applicant has to purchase the real estate, make the required investment or make the payment to the Government Fund Contribution within thirty days of the receipt of the information.
The approval is sent to the applicant and he can collect the passport. The passport holders have to take an oath of allegiance during the first time that they visit the country or by going to an Antigua and Barbuda Embassy or Consulate.
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