2024 has been nothing but interesting in the world of Caribbean Citizenship by Investment (CIP). In March, the CIP Nations of Grenada, the Commonwealth of Dominica, Saint Kitts & Nevis, Saint Lucia and Antigua & Barbuda signed a historic Memorandum of Understanding (MOU), with an aim to ensure increased cooperation, improve information sharing, establish a common standard of best practices and oversight, and importantly, to establish a minimum price for any Citizenship by Investment option at USD200,000.
Indeed, by August 1 2024, all five had finalized legislation and introduced new pricing in line with the MOU, and on September 25, 2024, an 8-member Interim Regulatory Commission for Citizenship by Investment Programmes was created - a first step towards the development and implementation of a regional regulator for the CIPs.
Have the CIPs harmonized completely?
Not exactly. While the MOU did establish a floor on pricing, signatory nations were left to establish their own pricing, government and due diligence fees, as well as procedures and policies. The table below highlights some of the key differences between the Citizenship by Investment Programs.
What does this mean for the Antigua & Barbuda Citizenship by Investment Program?
On July 25, Prime Minister Gaston Browne signed into law the Citizenship by Investment amendments. These amendments brought the country’s CIP in line with the minimum pricing established in the MOU, but also enacted a series of important changes, some of which is listed below:
Definition of Dependents: One of the most exciting changes is that children of the Principal Applicant, aged 30 or less, can be included without having to demonstrate financial dependence on their parents. This, with the fact that the applicant (or spouse) can include his/her unmarried siblings, as well as his/her parents and grandparents, give Antigua & Barbuda a competitive edge.
Donation Amount: Donations to the National Development Fund (for families of five persons or less), are now set at USD230,000, while families of six persons or more can make a USD260,000 contribution to the University of the West Indies (UWI). Importantly, government fees for the first six people are included in the contribution amount.
Minimum Real Estate Investment: Previously set at USD200,000, the new minimum amount is set at USD300,000. ClientReferrals continues to work exclusively with Verandah Estates - the Caribbean's best value-for-dollar CIP investment. Our 2-bed and 3-bed villas, built to measure, continue to be priced at $400,000 and $450,000 respectively. Investors receive full title to their villa, and to the land it sits on, making it one of the most unique CIP investments available on the market.
Application Fees: The amendments to the CIP law brought important reductions to Government Processing Fees. These fees are now USD10,000 for a single applicant, USD20,000 for a family of 4 persons, and USD10,000 for the fifth person onward. As mentioned above, for families of 6 persons (UWI option), their government application fee is waived, as it is included in the contribution amount.
What does the future hold for the Antigua & Barbuda CIP
The Antigua & Barbuda Citizenship by Investment Program has long been considered the gold standard, and continues to maintain its competitive advantage.
- Most flexible and generous definition of dependents
- Affordable government contribution for families
- Clearly defined legislation allowing for the passing on of citizenship to future generations.
ClientReferrals is the leading Licensed Agent for the Antigua & Barbuda CIP. We are the only true “B2B” service providers in the industry. We don’t solicit or market to clients directly, but rather focus our expertise and experience on serving our partners so you have the tools and information you need to be successful. If you are already working with us, thank you. If you’d like to know more, please feel free to reach out and one of us will be happy to contact you.
