Citizenship by Investment: Antigua & Barbuda

(Source: Citizenship By Investment Unit of the Government Antigua & Barbuda)

ABOUT ANTIGUA & BARBUDA

Antigua and Barbuda is an independent Commonwealth state in the Eastern Caribbean. With some 365 beaches of clean turquoise waters, the lush tropical islands of Antigua and Barbuda are an inviting paradise and considered to be one of the most beautiful places in the world.

Oprah's home in Antigua. She is one of many high-income property owners on the island.

As a result, tourism is the key driver of Gross Domestic Product (GDP) and generates around 60% of the island’s income, with key target markets being the U.S., Canada and Europe.

 

OVERVIEW

The Citizenship by Investment Unit (CIU) was established by the Honourable Prime Minister of Antigua & Barbuda and is the Government authority responsible for processing all applications for Agent’s Licenses, and all applications for Citizenship by Investment by applicants and their family.

LEGAL FRAMEWORK

Antigua & Barbuda's Citizenship by Investment Program was established in 2012. To qualify for citizenship, applicants must fulfill one of the investment options in addition to meeting the following criteria:

• Be of outstanding character;
• Hold no criminal record;
• Have excellent health;
• Have a high personal net worth;
• Reside (with the family members who are included in the application) in the country for a minimum of 5 days within a period of 5 years after being granted citizenship.

 

Legislation

The legal framework for citizenship by investment in Antigua & Barbudais based on:

• Antigua and Barbuda Citizenship by Investment (Amendment) Act 2016
• Antigua and Barbuda Citizenship by Investment Regulations 2014
• Antigua and Barbuda Citizenship by Investment Regulations 2014 (Amendments)
• Citizenship by Investment Act 2013
• Citizenship by Investment (Amendment) Regulations 2013

The Citizenship by Investment Programme (CIP) was established following parliamentary assent to the Antigua and Barbuda Citizenship by Investment Regulations 2014.

The Regulations regarding Citizenship by Investment in Antigua and Barbuda are contained in Section 6 of the Citizenship by Investment Act, 2014. These provisions allow the government to operate a programme under which citizenship is granted to persons who qualify under criteria set by parliamentary decision.

 

Restricted Country List

The Cabinet of Antigua and Barbuda, at its meeting held on Thursday, 11th December 2014, decided that the Antigua and Barbuda Citizenship by Investment Programme will not accept applications from nationals of the following countries: Afghanistan, Iran, Iraq, North Korea, Somalia, and Yemen.

As an exception, nationals of the above-mentioned countries who are lawful permanent residents of Canada, the United States of America or the United Kingdom, will be allowed to make application providing that their status as lawful residents is established. In addition, all applicants will be required to fully comply with the Programme’s due diligence requirements. Applications that have been submitted for consideration prior to this decision will be honoured by the Unit.

Individuals born in countries on Antigua & Barbuda's restricted countries' list but who have migrated before the age of majority and/or have maintained permanent residence in Canada, The United Kingdom, The United States of America, Australia, New Zealand, Saudi Arabia and The United Arab Emirates for a period of not less than 10 years and maintain no economic ties to any restricted country may qualify for application.

The Cabinet of Antigua and Barbuda has taken this position to safeguard the integrity of the Antigua and Barbuda passport and ensure that only persons whose past behaviour will not threaten the very well-being of the Citizenship Programme, can be accepted.

 

ANTIGUA & BARBUDA CITIZENSHIP BENEFITS

There is no requirement to travel to Antigua & Barbuda during the application process, fast processing, and no interview needed. No minimum education or managerial work experience required. No foreign tax on worldwide income.

The passport will be valid for a period of 5 years and will be considered for renewal subject to the recipient having spent a total of 5 days in Antigua and Barbuda, since gaining citizenship, within the 5 year period. The passport does not afford automatic voting rights and persons would need to qualify as outlined in the Representation of the People Act.

 

INTERNATIONAL MOBILITY

Antigua and Barbuda is a member of the United Nations, the British Commonwealth, Caricom and the Organization of American States (OAS) among many other international organisations. Holders of the Antigua and Barbuda passport enjoy visa free travel to 165 countries, including the U.K., Hong Kong, Singapore, U.K. and the Schengen Area.

 

FAMILY APPLICATIONS

Family applications will be considered to include the following family members;

• A spouse of the main applicant
• A child of the main applicant or his or her spouse who is 0-30 years of age and is financially dependent on the principal applicant;
• A child of the main applicant or of his/her spouse who is 18 years or older, but who is physically or mentally handicapped and who is living with and is fully supported by the main applicant;
• A parent or grandparent of the main applicant, or his or her spouse, who is 55 years of age or older and who is financially dependent on the principal applicant;
• A sibling of the main applicant, or of his or her spouse, if unmarried;
  A future spouse of the main applicant. (A fee of $50,000 is payable upon application);
• A future spouse of dependent children where the dependent child is financially dependent on the main applicant; and
• A future child of a dependent child. (A fee of US$10,000 is to be payable for children under 6 years of age and US$20,000 for children 6-17 years of age).

Note: For the purposes of the Antigua and Barbuda Citizenship by Investment Programme ‘child’ means a biological or legally adopted child of the main applicant, or of the spouse of the main applicant. Click here for more information.

 

INVESTMENT OPTIONS

Antigua & Barbuda offer three options for investment towards citizenship:

1) NATIONAL DEVELOPMENT FUND (NDF)

The National Development Fund (NDF) is a non-profit fund that is subject to parliamentary oversight by way of a six monthly report to be presented to Parliament in sufficient detail to
allow for transparency and accountability. The fund will also be audited by an internationally recognised accounting firm. It is established under section 42(2) of the Finance Administration Act 2006 for the purpose of funding government sponsored projects, including public-private partnerships and approved charitable investments - click here for fee schedule

2) REAL ESTATE

To qualify for citizenship under the real estate option, the government requires applicants to make an investment* in designated, officially approved real estate plus the payment of government processing fees and due diligence fees - click here for fee schedule.

In addition, two or more applicants who have executed a binding sale and purchase agreement may apply jointly for citizenship by investment provided that each applicant contributes the minimum investment.

* Note: Two (2) applications from related parties can make a joint investment, with each applicant investing in order to qualify. This condition and option is subject to change.

 

3) BUSINESS INVESTMENT

There are two business investment options - click here for fee schedule:

• An applicant proposes to make an investment in an approved business on their own behalf.
• A joint investment proposal in an approved business is put forward by at least two persons. The proposal may be submitted on his, her or their behalf through an agent.
  

 

4) THE UNIVERSITY OF THE WEST INDIES FUND (UWI)

The UWI investment route is an affordable option available to larger families of 6 or more persons - click here for fee schedule.

 

COSTS AND FEES

The following are the costs and fees associated with citizenship by investment in Antigua & Barbuda:

Universal Fees - apply to all 4 investment options:

• Processing fee*: US$30,000 for an individual or an individual with a family of up to 4 persons; incremental payments of $15,000 for each additional dependent
• Due Diligence fee: US$7,500 for applicant + US$7,500 for spouse + US$2,000 per dependent ages 12 to 17 + US$4,000 per dependent age 18 and over
• Passport fee: US$300 for applicant + US$300 for spouse + US$300 for each dependent
• GLI Agent Fee: On application

*Note: the processing fee for the University of the West Indies Fund (UWI) is included in the investment contribution amount for families of 6 - see Investment Option 4 below for details. All other universal fees above apply.

 

Investment Options

1) National Development Fund (NDF) - in addition to the Universal Fees:

• Individual Applicant: US$100,000
• Individual Applicant + Spouse: US$100,000
• Family of 4: US$100,000
• Family greater than 4: US$125,000

 

2) Real Estate Investment - in addition to the Universal Fees:

• Option 1 - Single Investor: US$400,000
• Option 2 - Co-Investors (minimum of 2 people): US$200,000 each for a minimum total of US$400,000

 

3) Business Investment - in addition to the Universal Fees:

• Option 1 - Single Investor: US$1,500,000
• Option 2 - Co-Investors (minimum of 2 people): US$5,000,000 total with each investor making a minimum US$400,000 contribution

 

4) The University of the West Indies Fund (UWI) - in addition to the Universal Fees:

• Families of 6: US$150,000 (inclusive of the $30,000 universal processing fee)
• Families over 6: $15,000 processing fee for each additional dependant