Country

Antigua & Barbuda

Antigua & Barbuda – The Caribbean Gem

Known as the Gem of the Caribbean, Antigua & Barbuda is viewed by many as the top luxury vacation destination in the region. Its pristine beaches are just the beginning of a trip to Antigua & Barbuda.

The social and political life in the picturesque island nation of Antigua and Barbuda is stable and calm. Antigua & Barbuda is a member of the United Nations and the Commonwealth of Nations. English is the official language and the country’s currency, Eastern Caribbean Dollar (EC) is fixed to the US Dollar at a rate of US$1.00 = EC$2.68 since 1976 ensuring great financial stability.

Antigua & Barbuda passport holders can currently travel to over 130 countries, including Canada, UK, Europe (Schengen), Hong Kong Singapore and more, without the need for a visa.

The island is home to American University of Antigua and University of Health Sciences Antigua; both are American medical, health sciences and nursing educational institution. Citizens of Antigua & Barbuda may enjoy preferred tuition rates, scholarships, and, in some cases, the opportunity to complete their residency program or more easily obtain a work permit in other countries such as Canada, China, United Kingdom, and United States.

The very secure banking system in Antigua & Barbuda, through many of the large Canadian banks such as CIBC, RBC, and Scotiabank, offers a safe place to deposit funds in a tax-friendly jurisdiction as economic citizens are not taxed on their worldwide income.

Residency & Citizenship by Investment Program:

The Antigua and Barbuda Citizenship by Investment Program was established in 2013. Though the commonwealth state is a new entrant in this category, its CIP program is becoming very popular among HNIs owning to its straightforward application process, fast outcome and quality of real estate offered.

Anyone above the age of 18 years can apply for this program. There are three options available to make an investment:

  1. The National Development Fund (NDF):

Acquisition of citizenship under the NDF investment option requires a contribution to the National Development Fund in the minimum sum of US$100,000 per application. The contribution is in the form of a one-time payment.

The primary applicant may include spouse, dependent children and dependent parents over 65 years of age within the application with no additional NDF contribution required, although government and due diligence fees will be payable per each individual.

  1. For a single applicant, or a family of 4 or less

US$100,000 contribution

Processing fees: US$25,000

  1. Family of 5 or more

US$125,000 Contribution

Processing Fees: US$15,000 for each additional dependent

Upon submission of the application, the investor will be asked to pay the due diligence fees and 10% of the government processing fee.

  1. Real Estate:

To qualify for citizenship under the real estate option, the government requires applicants to make an investment in designated, officially approved real estate with a value of at least US$ 400,000 plus the payment of government processing fees and due diligence fees.

For a single applicant, or a family of 4 or less

Processing fees: US$50,000

For a family of 5 or more

Processing Fees: US$15,000 for each additional dependent

In addition, two or more applicants who have executed a binding sale and purchase agreement may apply jointly for citizenship by investment provided that each applicant contributes the minimum investment of US$ 400,000.

As the application procedure under this option involves the purchase of real estate, this can lengthen the processing time depending on the chosen property. The real estate cannot be re-sold until 5 years after the purchase, unless purchasing an alternate officially approved real estate property in Antigua and Barbuda.

Upon submission of the application, the investor will be asked to pay the due diligence fees and 10% of the government processing fee.

  1. Business Investment:

The two business investment options are:

  • Where a person proposes to make an investment in an approved business of at least US$ 1,500,000 on their own behalf.
  • At least two persons propose to make a joint investment in such an approved business totaling at least US$ 5,000,000, and each of those persons individually propose to contribute at least US$400,000 to the joint investment an application or application for Citizenship by Investment may be submitted on his, her or their behalf through an agent.

Once approval of the business investment has been given, the Citizenship and Investment Unit (CIU) will consider applications for citizenship. The application process is similar to that of the NDF, namely, upon submission of the application the investor will be asked to pay the due diligence fees and 10% of the government processing fees.

For a single applicant, or a family of 4 or less

Processing fees: US$50,000

For a family of 5 or more

Processing Fees: US$15,000 for each additional dependent

In addition to the funding of the selected investment option, additional fees are payable by each family member. These comprise of the following:

Government Fee

The fees applicable are stated in the table below. 10% of the government fee is payable (and non-refundable) upon submission of your application with the balance due following receipt of an approval letter sent to the authorised agent who submitted the application. A government fee is charged for each family member.

Due Diligence Fee

All applications are subject to rigorous due diligence to ensure that only meritorious applicants are granted citizenship of Antigua and Barbuda. The due diligence fee is charged for each family member above the age of 11 years as prescribed in the table below. The due diligence fee is payable upon submission of the application by the appointed agent and is non-refundable.

Passport Fee

Each family member is required to pay the sum outlined for issuance of their passport.

Note: Applications for citizenship may not be submitted directly to The Antigua and Barbuda Citizenship by Investment Committee (CBIC) and must only be handled by authorized representative/licensed agents.

Program Benefits:

 ·         Visa free travel to over 135 countries

·         Simple, streamlined application process

·         No minimum net worth requirements or previous business experience needed

·         One-time contribution and no hidden costs

·         Quick processing times – 60-90 days in most cases

·         Permits dual nationality

·         Citizenship obtained for life

·         Once citizenship is obtained, investor has the right to reside permanently on the islands. Alternatively, new citizens have to spend at least five days in the five years following granting of citizenship

 Additional Benefits:

·         No property taxes

·         No personal income tax

·         No property transfer taxes

·         No management fees

·         No monthly association fees.

 

 

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