- 8 reasons to “buy” citizenship of Antigua and Barbuda already this year
- Who can “buy” the citizenship of Antigua and Barbuda through investments: requirements
- How to formalize the economic citizenship of Antigua and Barbuda through investments?
- Donation to NFD
- UWIF grant
- Real estate investments
- Business investment
- Additional fees for the registration of economic citizenship of Antigua and Barbuda for investment / subsidized donation
Antigua and Barbuda is a small island nation: it is one of the most popular Caribbean tourist destinations. The country with a population of 91,000 annually receives about 241,000 tourists.
But tourism is not the only great offering available. This small Caribbean nation has long been issuing second passports to foreign investors. How much does Antigua and Barbuda’s citizenship cost for investments? What list of documents will have to be collected for the sake of registration of the status of a Caribbean citizen? What are the benefits? This guide will help you find the answers.
8 reasons to “buy” citizenship of Antigua and Barbuda already this year
There are many reasons to choose the Antigua and Barbuda Economic Citizenship Program through investment/donation. The unique benefits of the Antiguan proposal are as follows:
- Best holiday: The “Country of 365 Beaches,” as the state is often called, offers some of the best coastal recreation areas in the world. Snorkeling, diving, fishing, sailing and even swimming with stingrays can be done here. Want solitude in the silence of nature? We recommend visiting the country’s second island: Barbuda. A large number of tourists come to this country, trying to play an unforgettable wedding on the Caribbean coast or spend the honeymoon. Many hotels on the islands offer a full range of services for organizing these events.
- Transport hub: Thanks to the airport, the state has become an important transport hub connecting the Caribbean islands with North America and Europe. In 2014, a new airport terminal opened. In the capital city of St. John’s is a port capable of receiving several cruise ships at the same time. Near the port of the capital is a lot of duty-free shops and restaurants.
- Yachtsman’s dream: Jolly Harbour is the main port for private yachts and boats, as well as a location of golf courses and private settlements with villas. The state is able to boast of luxury yacht regattas, attracting the most beautiful and most expensive ships. Nelsons Dockyard in the English Harbour was an important port for the British as early as the 17th century. Now there is a museum, as well as one of the centers of yacht parking in the Caribbean region.
- Fast second passport: In 2013, the Antiguan government issued amendments to immigration law, officially launching the Antigua and Barbuda Citizenship Program for Investment/Subsidy. The period of obtaining a second passport by investors is about 4-6 months from the moment the documents are submitted.
- Mandatory Caribbean Leave: Some attribute the need for a five-day stay in a new home within a five-year period after becoming a citizen to be a disadvantage of the Antigua citizenship by investment program of granting investors second passports. In fact, having visited the Antiguan beaches, investors are more likely to call such a commitment a “fat” plus.
- Visa-free travel: A second passport of Antigua and Barbuda allows you to travel to more than 165 countries without the need for a pre-visa (or with the right to visa on arrival/e-visa), including the Schengen states, the UK, Ireland and most of South America.
- Dual citizenship is permitted: The law of Antigua and Barbuda permits dual citizenship. In other words, by issuing a second citizenship of Antigua and Barbuda for investments, the applicant will not have to give up his native passport, while maintaining access to the advantages of using the identification documents of two states at once.
- Exemption from income tax for fiscal residents: In 2013, the Antigua authorities changed its tax legislation, so the country now does not require its fiscal residents to pay worldwide income tax. This benefit is available to citizens who spends at least 183 days in the country during a given tax year.
Who can “buy” the citizenship of Antigua and Barbuda through investments: requirements
Applicants for dual citizenship of Antigua and Barbuda for investment / grant must meet the following criteria:
- Age from 18 (chief applicant);
- No criminal record;
- Being in good health;
- High personal capital;
- Ready to take an oath of allegiance to the new homeland by visiting the Antiguan territory / any embassy / representation of the Supreme Commission / Consulate of the Caribbean country.
Investors are allowed to include the following family members in the application:
- Children under the age of 18;
- Children aged 18-28 (it is necessary to provide a certificate of study at the university, the absence of children of their own families and the presence of the investor in the maintenance);
- Parents over 58.
The above requirements for the main applicant also apply to dependents included in the collective application for a second passport- citizenship of Antigua and Barbuda through investment/donation.
There is a blacklist of countries whose citizens have limited access to the Antigua and Barbuda Economic Citizenship Program for investment/donation. The current list includes:
- North Korea;
Individuals born in countries from this “black list” are allowed to participate in the program, provided they have emigrated to Canada, the United Kingdom, the United States, Australia, New ealand, Saudi Arabia and the UAE, and/or supportive permanent residence in any non-blacklisted country for 10 years/ for a longer period of time, not having economic ties with the country/black list countries.
How to formalize the economic citizenship of Antigua and Barbuda through investments?
Antigua and Barbuda’s investment/donation program is not similar to its Caribbean counterparts, offering a wider range of financial routes. Obtaining an Antigua second passport is possible under one of the following four conditions (financial options):
- National Development Fund (NFD) grant;
- Grant to the University of west Indies Fund; UWIF).
- Acquisition of real estate in a government-approved project;
- Investment in a government-approved business.
Let’s take a closer look at the options:
Donation to NFD
In the case of one applicant/family of 2-4 members, a $100,000 contribution is required. The state fee for processing the application is $30,000. In the case of a family of 5 members, a $130,000 contribution is required. In such a case, the state processing fee will be $15,000 for any additional dependent.
The ability to issue a set of passports for a grant to the UWIF fund is available only to families of 6 members. The candidate is required to contribute $150,000 to the relevant fund plus $15,000 for any additional dependent if the application covers more than 6 family members. The UWIF grant entitles one-year free tuition to one member of the main applicant’s family.
Real estate investments
The purchase of real estate entitles you to apply for an Antiguan second passport in the following case:
- Acquisition of the asset as part of a locally approved development project;
- The minimum purchase price is $400,000 or $200,000. In the second case, two (2) claimants are required to make joint investments by issuing Antigua and Barbuda citizenship for investments. The amount of the joint investment is from $400,000;
- Payment of processing and verification fees (amounts remain unchanged from previous financial options).
The applicant is allowed to resell real estate / shares of development projects previously acquired by applicants under the antigua citizenship by investment program of granting economic citizenship, after the five-year period of compulsory ownership. Secondary buyers may be new entrants to the scheme under consideration.
Importantly, Antigua real estate/development projects are allowed to be resold under the Antigua and Barbuda citizenship program only once.
Antigua and Barbuda’s citizenship for business investment allows you to invest between $1,500,000 and $1,500,000 in a business project approved by the local government. The amount is allowed to be reduced to $400,000. There is a condition: the investment should be made as part of a collective investment in a business project totaling $5 million.
Additional fees for the registration of economic citizenship of Antigua and Barbuda for investment / subsidized donation
In addition to the above amounts, investors must pay:
- Government processing fees (10% of fees are paid when filing documents for consideration to the government; not refundable in the event of refusal). The amount is calculated as follows: $30,000 – a family of four (4) members , $15,000 for any additional dependent in the case of a collective application, including five (5) people / more. Exception: If Antigua citizenship is issued for a UWIF grant, you will need to contribute $15,000 for any additional dependent if the application covers more than 6 family members.
- Due Diligence security verification fees in the following amount:
- $7,500 – main investor;
- $7,500 – spouse;
- $2,000 – children aged 12-17;
- $4,000 – children aged 18-28 / parents over 58;
- $0 – children under 11.
Those wishing to “buy” the second passport of Antigua and Barbuda through the antiguan program will soon be able to pay for the relevant services of public/private structures not only with American dollars, but also with cryptocurrencies (e.g. Bitcoin), euros. Relevant amendments to the legislation are being actively worked out.
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