The facts and information presented below will be of use to anyone who needs the cheapest second citizenship in return for investment in 2020. We will discuss renegotiation of the economic citizenship program terms of the Caribbean country of Antigua and Barbuda that has reduced the entry threshold by half so it reached the level of USD 100,000. Read on and you will get detailed information on the new developments as well as learn about their background and possible consequences.
Why is the citizenship of Antigua and Barbuda of interest? At the very least, you can obtain it in a matter of months, having invested a substantial amount in the economy of this Caribbean country. All thanks to Antigua’s Citizenship by Investment Program (CBI) whose successful participants get numerous benefits.
For example, there is no income tax of any kind on income from both local and foreign sources when applying for tax residency. It is possible to visit a great number of jurisdictions with an Antiguan passport without entry visas.
And now the Antiguan program also allows you to obtain the cheapest second citizenship by investment. After all, the amount of donation was cut in half and reached the mark of USD 100,000 which is much less than what you would pay for an apartment in any large city of the world. By the way, the authorities of two more Caribbean countries ask a similar amount for their economic citizenship.
If you have already decided that you do want a second passport of Antigua and barbuda, please apply for a rapid and exhaustive consultation on the matter of acquiring one by writing to info@offshore-pro.info.
Citizenship by Donation of Antigua and Barbuda Got Cheaper. Studying New Terms
After a serious drop in the number of applications for economic citizenship of Antigua via a donation to the National Development Fund (NDF) the Government of the Caribbean country has decided to renegotiate the terms of participation in the local CBI program in order to get it liberalized.
In his address to the country’s parliament, the Prime Minister of Antigua and Barbuda who is also the local Finance Minister, Gaston Browne, stated that the donation amount had been reduced from the previous USD 200,000 down to USD 100,000.
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Subsequently, the authorities informed all stakeholders of the donation amount reduction when filing collective applications involving 5 or more persons. The donation amount in this case was also reduced by half, from USD 250,000 down to USD 125,000.
Interestingly, at the end of the summer of 2017, the Antiguan Government has already reduced the prices for its CBI program participants. In particular, the authorities have significantly reduced the fees for processing applications under all investment options (including both donation and real estate/business).
Thus, now an individual investor or family of two, three or four persons can make a donation of USD 100,000 for economic citizenship and pay a state duty for the application processing in the amount of USD 25,000. This offer is now one of the most attractive in the Caribbean and in the world as a whole.
Citizenship by Donation of Antigua and Barbuda Got Cheaper. Analyzing the Prerequisites for New Developments
During his parliamentary speech, the Antiguan Prime Minister said that in the last two months there had been just three (3) applications for participation in the local CBI program via the NDF donation. This means that during this time the NDF option brought the country an income of USD 600,000 only.
Meanwhile, as Prime Minister Browne has pointed out, other CBI programs in the Caribbean are more efficient at attracting low-cost donations and, as a result, these programs are thriving.
In particular, Browne noted that the neighboring Commonwealth of Dominica “attracts 50 million dollars a month” via its own CBI program and a similar fund for socio-economic development receiving donations from foreigners.
According to the politician, the 50 percent reduction in prices is necessary to attract additional funds from abroad to finance the reconstruction and modernization of the infrastructure and housing in the Island of Barbuda which after the hurricane season of 2017 became almost uninhabitable due to the raging elements.
There is no word yet on whether the Antigua authorities are going also to reduce investment amounts under the other two investment options. The entry threshold for those choosing the real estate and business investment options remains unchanged, USD 400,000 and US 1.5 million, respectively.
The NDF was established by the Antiguan authorities a few years earlier to finance socially and economically important government and public-private partnership projects. This fund is fully transparent and accountable. Its work is controlled by the parliament of the Caribbean country and independent audit firms.
Citizenship by Donation of Antigua and Barbuda Got Cheaper. Alternatives
As it was mentioned above, the new developments have almost equalized the cost of obtaining Antigua’s economic citizenship to the prices for competing products offered by Dominica and Saint Lucia. At least if you consider the costs for an individual investor.
The option offered by the Federation of St. Kitts and Nevis is a little more expensive at this stage. You need to invest USD 150,000 to apply for citizenship of this country via a donation. At the same time, if we consider a family of 2 to 4 people, this option is approximately equivalent in value to the three above.
It also means that at this stage Grenada is the most expensive option for those wishing to apply for citizenship via the Caribbean CBI program. The minimum donation amount in this case is USD 200,000. But such an overpayment can be justified on the grounds that this state offers a number of valuable benefits.
For example, holders of Grenada passports can apply for an American investor visa under the E2 program (a unique option for the Caribbean).
In addition, newly minted economic citizens of Grenada are allowed to visit China without first applying for entry visas.
Citizenship by Donation of Antigua and Barbuda Got Cheaper. According to Skeptics, Lowering the Entry Threshold Can Turn into Certain Issues
As soon as we talk about visa-free countries, it should be noted that the Antigua CBI program lost one of its valuable benefits. It is about visa-free entry to Canada.
According to certain skeptical experts, lowering the entry threshold for the Antigua CBI program participants could possibly become a problem for all citizens of the Caribbean country.
Skeptics do not rule out that the loss of additional visa-free countries is possible. Appropriate sanctions may be imposed by the EU states in response to the desire of Antigua to increase the demand for their CBI.
Do not hesitate to contact us and we will introduce you to the most experienced consultants in the field of citizenship by investment. Please email us to info@offshore-pro.info right now.
