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Antigua and Barbuda citizenship: CIP drops due diligence & fees at the 5 year renewal period

Kristina Kurkuliak
19 November 2018

The Antigua and Barbuda Citizenship by Investment program is an appealing opportunity to widen visa-free horizons, protect assets, including digital asset such as bitcoin, and optimise taxes. Over 2,000 investors have already used this opportunity and obtained a second passport of this country.
The passport of Antigua and Barbuda should be renewed every 5 years. According to the Antigua and Barbuda Citizenship by Investment (Amendment) Act 2016 (14.3), an investor who has already participated in the CIP and obtained Antigua’s passport must go through another due diligence and pay renewal fees in a 5-year period to renew the passport. The CIB Unit of Antigua and Barbuda stated that this requirement “has generated concern within the industry, particularly within the sub-region.”
Thus, the government of Antigua and Barbuda decided to remove this requirement. It’s expected that the changes would come into effect in the second quarter of 2018.
Antigua and Barbuda citizenship: CIP drops due diligence & fees at the 5 year renewal period | Migronis
There are two investment options to choose from – a non-refundable donation and investment in property on the island.

Please note that in autumn 2017, the minimum investment amount to a state fund was reduced by 50%, making it $100,000. In January 2018, the authorities revealed that the discount would end after October 31, 2018.

Apparently, the expected change in the CBI program would attract more high net worth individuals interested in an Antigua’s passport.
In 2017, the Antigua and Barbuda CIP helped to increase the state budget by $300 million, over $198.7 million were gained with the help of investment in real estate option.
Investing at least $400,000 in a government-approved real estate object, one is able to apply for the passport of Antigua and Barbuda. It’s also possible to invest in shares of a hotel or resort. The main requirement of this option is to hold the investment for at least 5 years. It’s possible to resell this real estate object afterwards without losing citizenship status.

Pluses of Antigua and Barbuda passport

Economic citizenship of Antigua and Barbuda started its official work in 2013. Over 2,000 candidates were approved to receive the citizenship. The program is quite popular because the passport opens the doors to such privileges as visa-free travel to 100+ countries and strong assets protection systems.
Here is a list of 6 main advantages of the passport:

What else should you know about Antigua and Barbuda citizenship?

There is no need to travel abroad to apply for citizenship. The process from beginning to end is supervised by a qualified specialist. An investor must be over 18 years of age and have no criminal records in order to go through due diligence with ease. An investor might fail during due diligence if the information they have submitted is false, if they have a previous criminal record or dangerous illness.
The Antigua and Barbuda citizenship is issued for a lifetime. The children born after the parents obtain their citizenships become citizens free of charge. In conclusion, it is not only an investment in your own future, it’s an investment in the future of your children.

Interested in more detailed information about Antigua and Barbuda citizenship by investment program? Contact us!

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