The beautiful island nation of Antigua and Barbuda offers a golden opportunity for prospective investors through its Citizenship by Investment program. The program allows individuals to invest directly in the country's economy in exchange for citizenship and one of the strongest Caribbean passports. Additionally, the program is one of the most cost-efficient among the five Caribbean nations. It provides a whole host of benefits to successful applicants, such as visa-free travel and a favourable tax regime.
While the program sounds enticing on paper, it is critical to wade through the misinformation about the program and its requirements. This blog covers Antigua and Barbuda citizenship by investment requirements and aims to inform potential applicants about the various benefits of the program.
Listen To This Podcast: Arbitration and Technology in the Caribbean: Power Panel Insights with Baiju Vasani
Table of Contents
Introduction to the Antigua and Barbuda Citizenship by Investment
Introduced in 2013, the Antigua and Barbuda Citizenship by Investment Program is a relatively recent addition to the Caribbean citizenship landscape. Enacted under the Citizenship by Investment Act, Act No. 2 of 2013, its primary aim is to attract foreign investment, bolster infrastructure, and foster economic growth in the nation. This initiative enables individuals to acquire citizenship through direct investment in the country's economy. Moreover, the program extends citizenship privileges to entire families, allowing spouses, dependent children, parents, and even siblings to obtain passports through a single application, albeit with additional fees.
Why You Should Apply for the Program
The Antigua and Barbuda Citizenship by Investment Program offers a multitude of benefits, making it an attractive option for investors seeking global mobility and financial advantages. Passport holders gain visa-free access to over 150 countries worldwide, including prominent destinations like Hong Kong, the UK, Canada, and the Schengen European Zone. Moreover, the program allows dual citizenship, allowing individuals to maintain their existing nationality while enjoying the privileges of an Antiguan and Barbudan passport.
In addition to international travel benefits, the program offers an attractive tax regime, with no personal income tax, capital gains tax, estate taxes, inheritance tax, or tax on worldwide income. This advantageous tax environment can result in significant savings for potential applicants, enhancing the appeal of the citizenship by investment program. Furthermore, with just a 5-day minimum residency requirement, individuals can maintain their Antiguan and Barbudan citizenship while residing in other countries, renewing their credentials every 5 years.
The program also offers multiple investment options, including contributions to the National Development Fund, real estate investments, business ventures, or donations to the University of West Indies Fund (UWI). These investment avenues cater to diverse preferences and financial capacities, enabling applicants to choose the option that best aligns with their goals. Moreover, the program's family-friendly approach allows for the inclusion of various family members in the application and even allows citizenship to carry on for future generations.
Antigua and Barbuda Citizenship by Investment Requirements
The primary Antigua and Barbuda citizenship by investment requirements helps outline the specific criteria for each applicant. The primary applicant must go through all these requirement criteria to ensure that their application is processed promptly and upholds the country's legal norms. These requirements are different for the principal applicant, and the various family members added dependants to the application.
Principal Applicant Requirements
To qualify for citizenship through investment in Antigua and Barbuda, the primary applicant must be at least 18 years old and undergo stringent due diligence checks to ensure a clean criminal record. Additionally, a minimum investment of $100,000 to the National Development Fund is required for single applicants, with varying amounts for alternate investment options or if additional dependent family members are included. Health checks are mandatory for all applicants to confirm they do not suffer from contagious diseases.
Furthermore, applicants must meet criteria such as not being convicted of offences carrying custodial penalties exceeding six months, not being under criminal investigation, and not posing a national security risk to Antigua and Barbuda or any other country. They must also refrain from activities that could bring disrepute to the country and not have been denied a visa to a country with which Antigua and Barbuda has visa-free travel. Additionally, new citizens are required to spend five days in the country during the initial five-year period to maintain their citizenship.
Additional Family Members Criteria
The Antigua and Barbuda citizenship by investment requirements extends to various family members of the principal applicant. Spouses of the principal applicant and children aged up to 30 who are financially dependent are eligible for inclusion in the application. Additionally, children aged 18 or older with physical or mental disabilities who are fully supported by the principal applicant also qualify for citizenship. Moreover, parents or grandparents aged 55 or above who are financially dependent on the principal applicant and unmarried siblings of the principal applicant or their spouse also meet the criteria for inclusion.
However, all dependents are subject to due diligence checks, and processing and due diligence fees apply for their inclusion in the application, ensuring the integrity of the program.
Restricted Countries
In addition to the requirements posited above, Antigua & Barbuda has a list of restricted countries that fall short of Antigua and Barbuda citizenship by investment requirements. This list includes:
- Afghanistan
- Iran
- North Korea
- Somalia
- Yemen
- Sudan
- Russia
- Belarus
However, individuals from the list of the above countries can still apply if they meet these requirements:
Those born in these restricted countries but migrated before reaching the age of majority or have maintained permanent residency in Canada, the United Kingdom, the United States of America, Australia, New Zealand, Saudi Arabia, or the United Arab Emirates for at least 10 years, without any financial ties to the restricted countries.
Additionally, all applicants must fully adhere to the due diligence of the Antigua and Barbuda citizenship by investment requirements.
ALSO READ: Antigua and Barbuda Citizenship by Investment in 2024 | Apply Now
Investment Requirements
The Antigua and Barbuda citizenship by investment requirements stands out as one of the most appealing investment opportunities in the Caribbean region. Offering a diverse range of investment paths, the program caters to the financial capabilities and family of the principal applicant. With investments starting from $100,000 and reaching up to $1.5 million, applicants can choose from four distinct investment options.
Investment Options
One avenue is the Antigua & Barbuda National Development Fund, where a non-refundable contribution of $100,000 secures citizenship for a family of up to four, accompanied by a processing fee of $30,000.
Alternatively, investors can opt for real estate investments, requiring a minimum purchase of $200,000 in government-approved real estate projects.
Another option entails significant business investments, with a sole investment requiring $1.5 million or joint investments starting from $5 million, with each applicant contributing a minimum of $400,000. These investments can only be made in approved business projects, which are reviewed by the Citizenship by Investment unit.
Additionally, the program allows donations to the University of the West Indies Fund, with minimum investment contributions of $150,000 onwards. This amount also includes a 1-year scholarship at the university for one of the family members in the application.
Beyond the investment amount, applicants should consider various associated charges, including government processing fees, passport fees, and diligence fees. Another important aspect to keep in mind is the agent fees, as only licensed agents can submit applications to the government.
Documents and Fees
The Antigua and Barbuda citizenship by investment requirements also lists the various additional documents that are required for the application:
- Valid, current passport and copies
- Birth certificate
- Police clearance certificate (must be obtained from all countries where the applicant has resided for over 6 months)
- Current residence proof
- Medical clearance certificate
- Marital status certificate, i.e. marriage certificate or divorce certificate (if applicable)
- Valid business plan (if applicable)
- Bank clearance letter
- Proof of income and funds
- Investment confirmation letter
- All additional application forms, as indicated by the agent
Additionally, it is worth noting that each applicant must also pay the various surcharges that are liable. These include government fees ($30,000 for a family of 4), due diligence fees ($7,500 for each applicant), passport fees, and oath fees. The applicant must also take into account various lawyer and agent fees, as only licensed agents can handle and submit applications per the Antigua and Barbuda citizenship by investment requirements.
Listen To This Podcast: Empowering Antigua Through Banking and Sustainability: A Conversation with Brian Stuart-Young
Conclusion
To conclude, the Antigua and Barbuda citizenship program offers an advantageous proposition to prospective foreign investors. The program allows individuals to gain global citizenship in exchange for significant financial contributions, proving to be a win-win situation for all parties involved.
It is paramount that one understands the Antigua and Barbuda citizenship by investment requirements. While these requirements may be challenging to navigate, fulfilling each criterion allows for a hassle-free application and streamlines the process. It is recommended that potential investors reach out to licensed agents and attorneys to understand Antigua and Barbuda citizenship by investment requirements and build their application as per their requirements.
FAQs
How do you qualify for citizenship by investment in Antigua & Barbuda?
To qualify for citizenship by investment in Antigua & Barbuda, applicants must meet the Antigua and Barbuda citizenship by investment requirements. These include being at least 18 years old, passing due diligence checks, making a minimum investment of $100,000 to the nation's economy, and meeting health and character criteria. Additionally, applicants can choose from alternative investment options such as real estate or business investment.
How long does it take to get Antiguan & Barbudan citizenship?
The entire process typically takes around 3-6 months, with the due diligence taking up the longest time. Exact timelines may vary per application, depending on the varying degree of accordance with the Antigua and Barbuda citizenship by investment requirements.
What are the benefits of citizenship by investment in Antigua & Barbuda?
In addition to visa-free travel to over 150 countries, including popular destinations like the UK, Canada, and the Schengen Area, the citizenship by investment program in Antigua & Barbuda offers a favourable tax regime with no personal income tax, capital gains tax, or estate taxes.
Moreover, individuals can maintain dual citizenship, enabling them to retain their existing nationality while enjoying the privileges of an Antiguan and Barbudan passport, which can be advantageous for global business opportunities and mobility.
[…] conduct cast a long shadow over the program and the nation's integrity. Saint Lucia is not alone; Antigua and Barbuda have also faced controversy with accusations of CIP fund misuse and lax oversight, coupled with the […]