Citizenship by investment: Antigua and Barbuda
Antigua and Barbuda – the second passport and wide opportunities
Besides being an attractive tourist center with the developed infrastructure, Antigua and Barbuda is also an offshore jurisdiction for business and an excellent country for getting the second citizenship by investment. The Program was designed and launched only in autumn 2013; however, since that time it has gained appreciation by a multitude of families throughout the world that got new opportunities along with the new passport.
You can get the second passport of Antigua and Barbuda through the two programs:
- by way of non-refundable investment in the country’s economy; or
- by way of acquiring immovable property.
What are the benefits of the second passport of Antigua and Barbuda?
The second passport of Antigua allows its holders to travel to more than 120 countries without visa, and it makes this passport to be one of the most convenient Caribbean passports for tourist purposes. Furthermore, it is the only passport among the countries with the same programs, that allows to visit Canada (St. Kitts and Nevis, for instance, was deprived of such possibility in the end of 2014). Besides Canada, the passport of Antigua allows you to visit the countries of Schengen Agreement and the United Kingdom.
Antigua has an interesting feature: it makes various discount offers for citizenship program that make investment in this state’s economy even more attractive.
One more distinctive feature of Antigua and Barbuda is the fact that they are firmly oriented to keep the good reputation of their program trying to comply with all transparency requirements and making thorough due diligence check in respect of applicants.
How to get the second citizenship of Antigua and Barbuda
The first, classic, option is investment in National Development Fund. The standard amount is 250 000 US dollars.
This investment program is non-refundable and is not designed for profit making.
The timeframe for application processing is at average 4 to 5 months.
The second option – investment in immovable property – requires an applicant to pay 400 000 US dollars to buy the real property item. However, an applicant may acquire the more expensive items into the shared ownership, where each investor’s share must be at least 400 000 US dollars.
An applicant must be older than 18 and be able to pay for all the necessary steps. The participation of citizens of Iran and Afghanistan is restricted. The application may be submitted not only for the investor but also for his/her spouse, minor children before 18, children between 18 and 25 (if they are students, do not have family and are the applicant’s dependents) and parents older than 65. In other words, the citizenship may be acquired for the whole family.
As in other similar programs, it is necessary to go through due diligence check. It costs 7 500 US dollars for the main applicant and his/her spouse, 4 000 US dollars for children between 18 and 25 and for parents older than 65, 2 000 US dollars for children from 12 to 17, while due diligence check for younger children in free of charge.
Antigua and Barbuda also collects the state duty, which is to be paid separately. Ten percent of this amount must be paid in advance and will not be returned even in case of denial of citizenship. The main applicant and his/her spouse, parents older than 65 and children between 18 and 25 must pay 50 000 US dollars, while state duty for children under 18 is 25 000 US dollars.
The relative disadvantage of the economic citizenship program of Antigua and Barbuda at the moment is a condition of staying in the country at least 5 days within 5 years. You may spend these days either in one visit or by visiting the country every year. Many holders of the country’s passport say that it is pleasant for rest and the condition of 5-days staying is not burdensome. Except, perhaps, the flight, which for Europeans may be longer than their habitual routes. By the way, the initial requirement was 35 days of stay. During the one year, the program was redesigned in favour of investors, and compulsory duration of stay was reduced to minimum.
For all questions related to citizenship by investment program of Antigua and Barbuda, please contact our specialists.