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October 18, 2017
Following a severe reduction in the volume of applications for Antiguan citizenship by investment program (CIP) under the National Development Fund contribution option (NDF), Prime Minister Gaston Browne announced in parliament on Thursday October 12th, 2017 that the program would lower the contribution requirement from its current US$200,000 to US$100,000. A family of four will pay a contribution of US$100,000 as well as processing fees of US$25,000. This is a 50% reduction which becomes effective on November 1st , 2017.
The Prime Minister said that during the last two months, a mere three applications had been lodged under the National Development Fund contribution option (NDF). This means that during that time, the National Development Fund contribution option (NDF) only generated US$600,000 in revenue.
Browne said other countries such as Dominica have been doing extremely well with a National Development Fund contribution option (NDF) price at US$100,000 – so Antigua and Barbuda will now do the same. He added that Dominica’s NDF makes US$50 million per month.
Browne pointed out and said the 50% price cut was necessary to help fund the reconstruction of Barbuda, which has been left virtually uninhabitable after this season’s hurricanes.
As an example, under the National Development Fund contribution option (NDF) program, a family of up to four persons will now cost as follows: