Antigua and Barbuda – Citizenship by Investment
Citizenship by Investment
Lying in the Eastern Caribbean’s Leeward Islands, the English-speaking, two-island state of Antigua and Barbuda is a favoured tourist destination affectionately referred to as the “Land of 365 Beaches”.
Antigua and Barbuda enjoy a pleasant year-round climate, with average air temperatures ranging between 25oC and 28oC (77oF to 82oF) and sea temperatures reaching 29oC (84oF). These lush tropical islands are stunningly beautiful locales, and tourism is the dominant source of income generating about 60% of the islands’ GDP.
Having gained independence from Britain in 1981, Antigua and Barbuda has developed a reputation for judicial and governmental stability. Today, passport holders enjoy visa-free travel to 151 countries, including the European Schengen Area, the UK, South Africa, Hong Kong, and Singapore. They also enjoy the privileges associated with citizenship of a Caricom country.
Requirements/Investment Options
The Antigua and Barbuda Citizenship-by-Investment Programme requires you to make a significant financial investment into the country in return for citizenship for you and your family.
To qualify for citizenship, you must be over 18 years of age, meet the due diligence requirements, and commit at least five days of visit within the first five years of obtaining citizenship. You can select from one of three main investment options:
- Make a non-refundable donation to the National Development Fund starting from $100,000
- Purchase qualifying real estate of at least $200,000 in a government-approved project
- Make a direct investment of at least $1,500,000 into an approved business as a sole investor.
- Carry out a $150,000 non-refundable donation to the University of the West Indies (families of six or more only)
Donation
The National Development Fund (NDF) is a non-profit fund established under section 42(2) of the Financial Administration Act of 2006 to finance government-sponsored projects, including public-private partnerships and approved charitable investments.
The contribution to the NDF for an individual applicant or a family of up to four persons is USD 100,000, and the processing fee is USD 30,000.
You can include your spouse and children up to 30 years old who are financially dependent on you. Any of your unmarried siblings also qualify as dependents. Additionally, you can include parents and grandparents who are 55 years or older and financially dependent on you.
Real Estate
You can also opt to acquire real estate with a minimum value of USD 200,000 from an approved development project. This route requires you to maintain ownership of the property for at least five years.
If you are considering the real estate option, we suggest that you visit the islands, and our local team will provide you with tours of the available properties. While this is not a program requirement, you will undoubtedly gain a better appreciation and understanding of the property options and the real estate market in general. Lastly, your new address will allow you to open a local bank account.
University of the West Indies Fund Options
For families of six or more, a more economical option than the NDF is the University Fund. This starts from USD 150,000 (including a government processing fee). For each additional dependent over six, you are responsible for an additional fee of USD 15,000.
Qualifying Dependants
As the main applicant, you can add your spouse as a dependant. Like you, they must be over 18 years of age, not have been diagnosed with any serious illnesses, and not have been prosecuted for any crimes carrying a custodial sentence of more than six months. You can also include children up to 30 years of age and their spouses.
You can also include mentally or physically disadvantaged children of any age. Parents and grandparents over the age of 55 qualify as dependants. As do unmarried siblings. You can add a future spouse, conditional on the payment of $50,000.
Other Requirements
In addition to fulfilling one of the three economic contributions above, you and your dependants must have clean personal backgrounds.
The Citizenship-by-Investment Unit (CIU) is the government authority responsible for processing and examining all applications. They will perform strict due diligence checks.
Process Overview
The process will take between four and six months. That is the time you will have to wait after submitting your application until receiving your passport.
Taxation
Antigua and Barbuda has no personal income tax, capital gains, inheritance taxes or tax on foreign income. Simply holding Antiguan citizenship in itself will not cause one to be a tax resident.
The corporate tax rate is set at 25%. However, certain companies may qualify for attractive tax reductions on profits up to a 20-year period.
A sales tax is a standard rate of 15% which is calculated on local consumption.
Summary of Key Advantages
Visa-free travel to 151 countries including the EU, the UK, Singapore, Hong Kong, and South Africa
Full citizenship with passport granted to you, spouse, children up to the age of 30, unmarried siblings, and parents or grandparents over 55
No personal income, capital gains, inheritance tax, or tax on foreign income
You only have to spend at least five days on the islands within the first five years of obtaining citizenship
Antigua & Barbuda is an exceptionally beautiful place to live in all year round or to establish your second home. With over 365 beaches and a temperate climate, the country is a true jewel in the Caribbean.
Application Process
Month 1
Initial due diligence. Following the successful screening, we will provide you with a Client Agreement (CA) to review and sign.Upon receiving the signed agreement and retainer payment, our legal team will complete all necessary government forms and supporting documents. If you make a property investment, you will need to execute a sales and purchase agreement with the developer. We will liaise with the property developer and the Antigua and Barbuda Citizenship by Investment Unit (CIU) on your behalf.
Month 2-4
Before submitting your documents, we comprehensively review your application to ensure your file complies with the CIU’s requirements.Our legal team will complete its final checks before submitting the relevant forms.The CIU will undertake its own due diligence and reviews all the paperwork. We will continue to work closely with them throughout the process to ensure your application is timely and efficiently processed.
Month 4-6
The CIU will assess your application, and upon approval, you must make all necessary contributions and pay any applicable government fees. After completion of final relevant payments, the CIU will send out Certificates of Naturalization followed by your passports.