Citizenship of Antigua and Barbuda: investment program and main advantages
October 2, 2024
Benefits and prospects of citizenship of Antigua and Barbuda: instructions from the specialists of the emigration center GARANT.in
Many countries issue citizenship for investment. While the programs are similar, each of them has its own peculiarities. Small developing countries, whose economy needs financing from outside, provide more favorable conditions for potential citizens. An example of such a country is Antigua and Barbuda. Together with the specialists of the company GARANT.in. - licensed agent of the island country, let's consider the main aspects and distinctive features of its investment citizenship program.
Geographical location and brief characteristics
The state is located on three islands in the Caribbean Sea - Antigua, Barbuda and Redonda. The small island of Redonda is uninhabited. The country is washed by the Caribbean Sea to the west and the Atlantic Ocean to the east. The nearest “big neighbors” are Puerto Rico and the Dominican Republic.
The climate is dry tropical. The air temperature varies slightly throughout the year from +26 C° in January to +32 C° in July.
The capital of the state is the city of St. John's. The population of the country is nearly 100 thousand people. The national language is English.
Passport with high freedom of movement
Antigua and Barbuda gained independence in the 1980s. However, the country retained its ties with the former metropolis: its head formally remains the British monarch, and it is a member of the British Commonwealth of Nations. This allows citizens of the island state to stay continuously on the territory of Great Britain for up to 6 months.
The passport of Antigua and Barbuda is considered the strongest in the Caribbean, it gives the right to visa-free or simplified entry to 151 countries of the world, including the Schengen area.
The authorities of the island country recognize the institution of second citizenship.
Favorable conditions for business migration
Citizenship of Antigua and Barbuda attracts foreign citizens wishing to take their business outside one country or open a new commercial enterprise abroad in a stable legal environment. The passport of the island state allows its holder to use the services of the most reliable banks, to purchase real estate in Great Britain and EU countries.
The program for the whole family: ways of investment
Under the terms of the migration investment program of Antigua and Barbuda, as well as many similar programs, family members can also apply for citizenship together with the main applicant.
The minimum amount of financial investments will remain the same if the investor applies together with a spouse and two children. That is, choosing the option of investing in the National Development Fund, the amount of 100 thousand dollars will be enough to ensure citizenship for all members of a family of 4 people. “Entry threshold” increases by 25 thousand dollars when the number of program participants increases to 5 people and more, including the investor.
A non-refundable contribution to the country's National Development Fund is not the only possible way to invest. Antigua and Barbuda passport can be obtained by foreign citizens who:
- purchased real estate on the territory of the island country with a total value of 400 thousand dollars or more;
- invested capital in the country's commercial enterprise fund independently (1.5 million dollars) or collectively (400 thousand dollars from each participant);
- made an endowment to the campus of the University of the West Indies in the amount of 150 thousand dollars.
Important! The amounts shown do not include additional costs for document review, passport fees, etc. For more detailed information and calculations please contact the specialists of the licensed agency GARANT.in.
Processing times
Investment citizenship programs in all Caribbean countries are known for their minimal processing time. The decision on granting citizenship to foreign investors in Antigua and Barbuda is made within 3-5 months.
Important! Financial transactions, except for the payment of mandatory state duties and fees, are carried out after receiving a positive response from the migration service of the island state.
Program restrictions that ensure financial security
Antigua and Barbuda's migration legislation clearly regulates the mechanism of granting citizenship for investment. The authorities ensure that the procedure is legal and “transparent”.
In order to avoid illegal “money laundering” in the region, some restrictions have been adopted:
- the application will not be approved from citizens of countries with a bad reputation;
- the applicant's name cannot be changed on the new passport;
- Antigua and Barbuda's passport can become a second passport for foreign nationals, while this option is not available to stateless persons at all.
Antigua and Barbuda citizenship is the best option in the Caribbean for couples
This country, consisting of three small islands, one of which is not inhabited at all, is considered to be the sunniest in the Caribbean. It also has several magnificent harbors, ideal for long stays of luxury yachts.
And it is symbolic, because Antigua and Barbuda is also known as a popular offshore zone, where rich people safely store their savings, protecting them from the storms of world economic crises. Let's talk more about the country's investment program, which opens up undeniable advantages for potential citizens.
What are the terms of the investment program for couples?
So, at present, the provisions of the program are as follows:
- non-refundable contribution to the Country Development Fund - 100 thousand dollars;
- investments in real estate - from 400 thousand dollars;
- investments in local business - from 1.5 million dollars.
These figures are fair for one investor.
It is noteworthy that even for two spouses with two dependent children these amounts do not change! Thus, the purchase of Antigua and Barbuda citizenship is especially beneficial for young married couples.
Having made one of the described investments, the resident receives a passport of the country (usually the processing time is 3-4 months).
You can learn more about the Antigua and Barbuda program, as well as the advantages of a local passport, on the pages of our website GARANT.in.
Is it profitable to buy real estate?
It is quite possible to make the islands your second place of residence - after all, there is a wonderful climate, well-developed tourist infrastructure. Suffice it to say that there are 365 beaches on the coast!
This is a place for active recreation, diving and sailing. Famous people from all over the world come here for vacation.
Antigua has high-level hotels, chic restaurants, many private villas. Barbuda is interesting untouched wild nature with a lot of attractions.
Property taxation here is quite loyal: no more than 0.5% of the value of the object. On Barbuda such a tax is not at all.
In addition, it should be emphasized: the cost of buying real estate, as well as investments in local business, you can partially or fully return after 5 years.
Experts of the company GARANT.in have long been working with the investment program of this country. They help clients at the stage of searching for investment options, drawing up a package of documents and solving organizational issues related to obtaining a passport.
What is in the plans
When discussing the prospects of the local investment program, one should take into account two antagonistic factors affecting the policy of the island authorities.
On the one hand, the tiny state is in desperate need of foreign investment. All the more so because its territory is subjected with enviable regularity to the devastating impact of tropical hurricanes. This forces the authorities to make concessions, reduce the size of investments, and relax requirements to investors.
On the other hand, this policy does not please various international organizations, which sometimes mercilessly criticize Antigua and Barbuda for its economic and financial “liberties”. Thus, the international Organization for Economic Cooperation and Development (OECD) included Antigua in the “black list” of untrustworthy countries, where there is laundering of “gray money” and non-transparent financial policy.
The “cryptocurrency story” is a case in point. Back in the summer of 2018, the country's parliament decided to grant citizenship for bitcoins. And although this law has officially entered into force, it, like a similar law in Vanuatu, is de jure not recognized anywhere in the world.
To diversify its investment program, Antigua is also expanding the variability of possible contributions. Just these months, work is underway to introduce another investment option - financial contributions to the University of the West Indies Foundation. This will amount to $150,000 per person and is likely to be non-refundable. Another innovation under discussion is the possibility of payment not only in dollars, but also in euros.
It is obvious that the government of the country is trying to optimize its program, to remove it from the list of unreliable, to satisfy both international financial structures and domestic demand for increased investment.