The government of Antigua and Barbuda has announced significant improvements to their Citizenship by Investment Program
which makes the program more competitive.
The Chief Executive Officer (CEO) of the country’s Citizenship by Investment Unit (CIU) - Charmaine Quinland-Donovan - said the processing fees across all the investment options for the program have been reduced.
The Cabinet of Antigua and Barbuda has approved the following changes to the program:
Government Processing Fees
The processing fees are being reduced accordingly
- National Development Fund (NDF) Option: US$25,000 for a family of up to four persons, plus US$15,000 for each additional dependent.
- Real Estate or Business Investment: US$50,000 for a family of up to four persons, plus US$15,000 for each additional dependent.
**These changes are effective as of August 1st 2017. All applications submitted to the CIU from the stated date will qualify if processing has not yet finalized.**
Individuals born in one of the restricted countries (listed below) may apply to the Antigua and Barbuda CIP if they migrated before the age of majority and/or have maintained permanent residence for at least 10 years in Canada, UK, USA, Australia, New Zealand, Saudi Arabia, or UAE
and maintain no economic ties to any restricted country:
The Cabinet has also agreed that these changes will be reviewed within the next six months therefore we urge our clients to move forward with their applications as soon as possible to take advantage of this great price reduction.
Lastly, Antigua and Barbuda CIU processing times continue to remain within the 90-day target date. We are very pleased and impressed with the CIU's ability to maintain these very fast processing times.
“The government was adamant that [it was] not going to reduce the investment amount, [it was] concerned about the race to the bottom. But what has happened, we have a done a study over the CIPs in the region and we have found that our processing fees are by far the highest over all five programmes,” Donovan said. She explained, “We could have passed off the fact that we were a little more expensive because we had visa-free access to Canada.
With that not being the case now, we’re actually working on a comprehensive strategy to determine the direction of the programme.”
Donovan said even with the reduction “Our application fees are still not the lowest but it’s more competitive.”
For more information on Antigua and Barbuda’s Citizenship by Investment Program, please click here
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