The Citizenship by Investment Program (CIP) was established following parliamentary assent to the Antigua and Barbuda Citizenship by Investment Regulations 2014 in compliance with the Citizenship by Investment Act, 2014.
The Citizenship by Investment Program (CIP) requires a person to make a significant economic contribution. In consideration, and subject to application procedures, including in-depth background checks, the applicants and their families are granted citizenship.
To qualify for citizenship, the primary applicant must be over 18 years of age, meet the application requirements and select one of the following three investment options;
- Application processing time within Three (3)-to-(4) Four months
- Dependent children under 26 and dependent parents or grandparents over 58 included
- No requirement to travel to Antigua & Barbuda during the application process
- No interview, education or managerial experience required
- Visa-free travel to more than 130 countries, including the Schengen zone, the U.K., Hong Kong, Singapore
- No tax on worldwide income
The government adopted the citizenship by investment programme as one of the initiatives to promote economic growth by attracting developments, increase of foreign direct investment, support the development of infrastructure and, generally, provide for a sustainable future.
To qualify for the programme, investors can choose from one of three options:
1. National Development Fund Contribution or Charitable Donation
High-networth individuals may choose to make a monetary contribution of US$100,000 to the National Development Fund or an approved charity.
The National Development Fund (NDF) is a non-profit fund 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.
Acquisition of citizenship under the NDF investment option requires a contribution to the National Development Fund in the minimum sum of US$100,000 per application. The contribution is in the form of a one-time payment.
The primary applicant may include spouse, dependent children and dependent parents over 58 years of age within the application with no additional NDF contribution required, although government and due diligence fees will be payable per each individual which are outlined within the fees section.
2. Real Estate Investment
Applicants may purchase property with a value of not less than US$400,000 in an approved real estate development area. The investment must be maintained for a minimum of Five (5) years. Property registration, processing fees and taxes are required to be paid in addition to the property purchase price.
Two (2) applications from related parties can make a joint-investment, with each applicant investing a minimum of US$200,000 in order to qualify. All processing and due diligence fees remain unchanged.
In addition, Two (2) 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 of US$400,000.
The real estate cannot be re-sold until Five (5) years after the purchase, unless purchasing an alternate officially approved real estate property in Antigua and Barbuda.
An application for citizenship-by-investment under the real estate investment option can be submitted to the Citizenship by Investment Unit (CIU) when a binding purchase and sale agreement has been signed with the developer of an approved project, which purchase and sale agreement is subject to the granting of the citizenship application.
Once a notification of an Approval-in-Principle is received, a certificate of registration (aka ‘COR’) will be issued for both the primary applicant and their family members.
The COR is then submitted to the passport office with all related passport applications and any accompanying documentation.
3. Business Establishment
Two (2) business investment options are currently available:
- A person proposes to make an investment in an approved business of at least US$1.5 Million; or
- At minimum of Two (2) persons may propose to make a joint-investment in an approved business enterprise for a total of not less than US$5 Million, and each of those persons individually propose to contribute not less than US$400,000 to the joint-investment
Ineligible applicants are deemed to be as follows …
- Where an applicant has provided false information on his or her application
- Where a medical practitioner states that any of the family members is suffering from a contagious disease and/or serious health problems
- Not having received a free pardon, has at any time previously been convicted in any country of an offence for which the maximum custodial penalty is in excess of Six (6) months imprisonment
- Is the subject of a criminal investigation
- Is a potential national security risk to Antigua and Barbuda or to any other country with which Antigua and Barbuda has visa-free travel
- Is involved in any activity likely to cause disrepute to Antigua and Barbuda
- Has been denied a visa to a country with which Antigua and Barbuda has visa-free travel and who has not subsequently obtained a visa to the country that issued the denial
Deprivation of citizenship may occur if the citizen does not spend at least Five (5) days in Antigua and Barbuda during the period of Five (5) calendar years after having obtained citizenship and they will not be entitled to repayment of any investment, contribution or purchase price made by them in their original application for citizenship.
Deprivation of citizenship will occur where such registration as a citizen was obtained by false representation or fraud or wilful concealment of material facts or the person has been convicted in Antigua and Barbuda of an act of treason or sedition.