For those seeking greater mobility, safety, unique and valuable investment options, and dual citizenship, Antigua and Barbuda’s Citizenship by Investment Program (CIP) is the ideal choice. Although the program saw light in 2013, it has built a reputation for transparency and credibility, which has helped to instill trust among investors and attract international celebrities like Oprah Winfrey, Giorgio Armani, and Silvio Berlusconi. Antigua’s program has responded to the increasing demand with a more efficient process, adopting a common-sense approach to the application process, and offering more competitive options.
In this article, we will delve into Antigua’s program, its benefits, and the reasons behind being one of the safest and most successful citizenship by investment programs in the Caribbean region.
Antigua & Barbuda
Antigua’s economy at a glance
The stunning Caribbean Island, with its mesmerizing beaches, excellent accommodations, and amenities, is known for its political stability, high quality of life, and solid financial services. It also has an advanced and booming economy, with GDP projected to reach $1.86 billion[1] in 2023, registering 5.5% growth compared to 2022. GDP per capita reached $19,900 in 2022. Tourism accounts[2] for nearly 60% of GDP, and 40% of investment. The country received 282,000 tourists[3] in 2023, most of which from the USA and Europe. Total imports of goods and services reached $655 million in 2020, while exports $598 million. The top 3 trade partners are the USA, China, and Japan. Main exports include precious stones and metals, oil and mineral fuels, and beverages. Antigua and Barbuda offer some of the most desirable properties in the Caribbean, making them an appealing destination for real estate investment. The price per square meter for an apartment in the City Center[4] is on average $11,500. Rental prices for a 1-bedroom apartment are around $740 per month in the city center and $370 outside the center.
The country offers investors who are looking to expand and broaden their businesses massive opportunities in various sectors, mainly hospitality and tourism, real estate, agriculture, renewable energy, ICT, and agro-food manufacturing, as well as health and wellness sectors. Antigua and Barbuda is considered an attractive investment hub due to its skilled and well-educated population, robust ICT infrastructure, high level of safety and security, low crime rates, generous financial incentives, business-friendly currency, and strong investor protection.
A reputable and successful program
The reputation of Antigua and Barbuda’s citizenship by investment program is significantly impressive, due to its high level of integrity and transparency. The country is ranked in the 3rd place in terms of reputation, according to the Global Citizenship Program Index[5], following Austria, Malta, and Turkey. The government thoroughly inspects developers and representatives to guarantee that candidates work with respectable experts at every stage of the procedure.
Antigua and Barbuda’s CBI program is ranked in 6th place[6] worldwide in terms of quality of life, following Austria, Malta, Jordan, Turkey, Egypt, and North Macedonia. It is ranked in 2nd place in terms of transparency, following Malta. It is also in the 2nd place regarding visa-free access or visa upon arrival, following Malta and Austria, and in the 2nd place regarding the processing time. Antigua and Barbuda is ranked in the 1st place in terms of residence requirement.
The rapid success of the program can be attributed to several factors, one of which is the highly competent staff of the unit, who are almost all from the private sector. The CIU has achieved an average turnaround time of 2 months, making it one of the most efficient units in the region. This efficiency has surpassed countries that have been in the industry for much longer.
Robust relations
The CIU has actively engaged with the international community through participation in industry conferences and establishing a strong presence in high-quality publications. This visibility, combined with a culture of efficiency, a robust due diligence process, transparency, and accountability in the program, has led international industry partners to confidently promote Antigua and Barbuda as the top program in the region. Moreover, Antigua maintains diplomatic relations with the United States, Canada, the United Kingdom, and the People’s Republic of China, as well as with many Latin American countries and neighboring Eastern Caribbean states. It is a member of the United Nations, the Commonwealth of Nations, the Organization of American States, the Organization of Eastern Caribbean States, and the Eastern Caribbean’s Regional Security System.
Attractive offerings
The Twin Island capitalized on the opportunity to learn from established programs. It tailored its real estate offerings and escrow arrangements to ensure a robust program. The market is known for its high-end, luxury properties, which are often owned by wealthy individuals, celebrities, and investors. Waterfront villas, beachfront condos, and exclusive estates are in demand. Therefore, property owners can sell their apartments or houses easily, after a period of time, and at good prices.
Antigua and Barbuda’s strong presence in the high-end tourism sector for over five decades has led to the development of high-quality infrastructure. This has positioned the country as an attractive destination for those looking to invest in exquisite real estate.
Antigua and Barbuda’s program was also the first to expand the investment offerings to provide a family of six the opportunity to contribute to the University of the West Indies (UWI) for a base cost of $150,000. Moreover, unmarried siblings can be included to get citizenship in this charming country. The island is currently one of the two Caribbean CBI programs that accept siblings alongside Grenada; however, Antigua does not have any age restrictions, while Grenada requires the sibling of the main applicant or spouse to be at least 18 years old.
Antigua and Barbuda Citizenship by Investment Program for the past 10 years
Numerous advantages
Antigua and Barbuda’s citizenship by investment program offers its citizens a lot of advantages. Its passport is considered one of the most desirable passports and is ranked 31st in the world. It gives its holder the highest degree of mobility, with visa-free access or visa upon arrival to 154 destinations, including the United Kingdom, Hong Kong, Singapore, Indonesia, some Latin American countries, and Europe’s Schengen area, where they can stay in the region for up to 90 out of 180 days. The investors can also stay in the UK for up to 180 days a year. Antigua and Barbuda have an attractive tax regime with no tax on income, wealth, inheritance, or worldwide income. Citizens can get a 10-year B-1/B-2 tourist visa to the USA and spend up to 180 days a year in it, attend conferences, hold business meetings, and receive medical treatment at US clinics.
Antigua and Barbuda’s program is considered one of the most cost-effective programs, as a family of four can obtain second citizenship for just $125,000. No residency is required; thus, only a 5-day visit must be completed within the first 5 years of citizenship. The decision for the application is made in just 4 to 5 months. Citizenship is granted for life and is irrevocable.
Cost-effective program
The total cost of obtaining Antigua’s citizenship by investment for a family of four through a contribution to the NDF is $150,000. This includes a $100,000 contribution, $30,000 processing fees, and $19,000 due diligence fees for the main applicant, spouse, and two dependent children between the ages of 12 and 17 years. If the investor chooses the real estate investment option, the total cost will rise to $250,000 for a family of four. This includes $200,000 in real estate property, $30,000 in processing fees, and $19,000 in due diligence fees for the main applicant, spouse, and two dependent children between the ages of 12 and 17 years. If the applicant selects the university contribution option, the cost will be approximately $200,000 for a family of six. This includes a $150,000 contribution to the university, $30,000 in government fees for a family of four, and $27,000 in due diligence fees ($7,500 for the main applicant, $7,500 for the spouse, $2,000 for each dependent between 12 and 7 years, and $4,000 for each dependent above 18 years). Processing fees will be paid starting with the 7th person.
How to obtain citizenship
To qualify for obtaining a Caribbean passport by investment and citizenship, applicants must make a financial contribution to the economy. They must be over 18 years old, have no criminal record or prosecutions, have no serious illness, be capable of confirming the legality of the income, and undergo a strict due diligence process.
Sources
[1] https://www.imf.org/external/datamapper/profile/ATG
[2] https://globaledge.msu.edu/countries/antigua-and-barbuda/economy
[3] https://statistics.gov.ag/subjects/travel-and-tourism/annual-visitor-arrivals-country/
[4] https://www.numbeo.com/property-investment/country_result.jsp?country=Antigua+And+Barbuda
[5] https://www.henleyglobal.com/publications/citizenship-program-index-2024
[6] https://www.henleyglobal.com/publications/citizenship-program-index-2024
