For most people seeking Caribbean citizenship by investment, Antigua and Barbuda is at the top of the list because it offers beautiful natural environments along with a stable economy and welcoming people. But as of the 1st of August 2024, the pricing structure of Antigua and Barbuda Citizenship by Investment programs has been changed. Here we will discuss these pricing changes and the benefits of Antigua and Barbuda citizenship.
Overview
- Background of Changes in Prices
- Pricing Structure
- Benefits of Antigua and Barbuda Citizenship
- FAQs
- Conclusion
Background of changes in Prices
A memorandum of agreement was signed between the 5 heads of government of the Organization of Eastern Caribbean States territories (OECS) that are operating citizenship-by investment programs. This required all of these countries to increase the minimum investment to 200,000 USD by June 30th, 2024. This was done to have more funds for improving the quality of the processes involved in the CBI programs.
A grace period of 1 month was offered by the Memorandum sent out by Charmaine Donovan the CEO of the Antigua and Barbuda Citizenship by Investment Unit.
Pricing structure
As of 1st of August 2024, the prices for Antigua and Barbuda citizenship by investment will be as follows:
National Development Fund (NDF): This is a non-refundable donation. By investing 230,000 USD in the national development fund, a single applicant can have Antigua and Barbuda citizenship, and if you invest 245,000 USD you can include up to five family members in your application for citizenship.
Property Investment: If you want to invest in property for citizenship the minimum threshold is now 325, 000 USD.
The University of West Indies: This option now costs 300,000 USD.
Government-Approved Businesses: If you want to invest in a government-approved business you need to invest at least 1.5 million US dollars
Benefits Of Antigua and Barbuda Citizenship
Getting an Antigua and Barbuda citizenship entails a lot of benefits including:
Visa Free Travel: You can visit over 140 countries including the Schengen area and the UK without the hassle of visa processes.
Dual Citizenship: You can retain your original citizenship and still enjoy the benefits of Antigua and Barbuda citizenship.
Tax Benefits: Antigua and Barbuda have no wealth tax, no inheritance tax, and no capital gains tax.
Investment Opportunity: Antigua and Barbuda has a growing economy with great potential for investments in tourism and real estate.
Family inclusion: They give you the option of including your dependents such as a spouse, parents, and children in your citizenship application.
FAQs
Q: Why has the cost of Antigua and Barbuda citizenship increased?
A: The Caribbean nations wanted to cover the rising operational costs. They also wanted to enhance the CBI programs integrity and efficiency. By increasing the minimum investment amount the governments can ensure they attract legitimate investors and also provide the necessary funding for national development.
Q: Do I have to visit Antigua and Barbuda to complete the citizenship by investment process?
A: You can initiate the citizenship process without going to Antigua and Barbuda but you will have to visit the country for a minimum of five days in the first five years after obtaining the citizenship.
Q: In case my application is denied, what happens to my investment money?
A: You can invest the money only after the government completes the due diligence process and gives you the approval. However, in case your application is denied the processing fee and the due diligence fee are not refundable.
Conclusion
The Antigua and Barbuda citizenship by investment program will continue to be among the most popular and economically viable ways of obtaining a second citizenship. You just have to do your own research and get professional opinion to make sure you can navigate the processes and legalities with ease.