On 11 April 2018 the Cabinet of Antigua and Barbuda approved a number of amendments to the country’s Citizenship by Investment Programme (CIP) that will continue to ensure its competitiveness in the region.
With immediate effect the most significant change to the programme is a Limited Time Offer to allow two known parties to jointly purchase a qualifying real estate investment at the $400,000 level with each party contributing $200,000. This joint investment option is set to expire on 31st October, 2018.
The Government processing fees remain at $50,000 for a family up to four and $15,000 for each dependent thereafter. The due diligence fees also remain unchanged with the main applicant and spouse paying $7,500 each and, dependents 12-17 pay $2,000 and those 18 and over pay $4,000. The five year investment holding period remains in place.
This Limited Time Offer coincides with the CIP in St. Kitts & Nevis reducing their real estate investment to $200,000 for two applicants however, their holding period for this level of investment is seven years.
The CIP was further amended to reduce the eligibility age of parental dependents from sixty-five to fifty-eight.
In addition, they have removed the requirement for dependent children under 18 to visit Antigua and Barbuda for five days within the first five years of citizenship being granted. However, upon reaching the age of 18, the residency requirement must be fulfilled as well as the swearing of the oath or pledge of allegiance.
The Cabinet further amended the CIP legislation to remove the requirement to pay due diligence fees at the first (5) year passport renewal stage, which aligns with the Caribbean’s other programmes.