After a busy month collating and submitting applications ahead of the price increase, last night we received a formal update from the Antigua & Barbuda Citizenship by Investment Unit. The new minimum investment levels and associated fees take effect from 1st August 2024.
Here are the new rules as formalised in the Antigua and Barbuda Citizenship by Investment (Amendment) Regulations 2024, No. 50 of 2024:
- Donation Route:
The minimum investment level for the donation route is rising from $100,000 USD to $230,000 USD. - Real Estate Investment:
The minimum investment level for property investment is increasing from $200,000 USD to $300,000 USD. - University of the West Indies (UWI) Fund:
For families of 6 or more only, the UWI option will now require a minimum investment of $260,000 USD inclusive of processing fees. - Processing Fees: The processing fees are now:
Single Applicant $10,000 USD
Family up to 4 persons $20,000 USD (10,000 USD for each additional person) - Diligence Fees:
Single Applicant $8,500 USD
Spouse $5,000 USD
Dependent Child 0-11 yrs FREE
Dependent Child 12-17 yrs $2,000 USD
Dependent Child 18+ yrs $4,000 USD
Benefactor $5,000 USD - Passport Renewal Fees
Passport $300 per person
Renewal Fee $1,000 per adult, $500 per child under 18 years.
Some new administration fees will be take effect as well including 250 USD for each oath certificate prepared (previously free of charge).
Modifications to the definition of dependent have been made as follows:
- Dependent children no longer required to prove financial dependence on the main applicant, however must still be under 30 years.
- If a dependent child included in the initial application wishes to add their spouse, they and the spouse must be under 35 years.
- A grandchild of the main applicant can be added later as long as the dependent (the parent of the child) is under 35 years of age.
Furthermore, applicants now have the option to nominate an alternative main applicant (who must be over 18 years old) to take over in the case of the primary applicant’s unfortunate demise or incapacity. This significant update presents an opportunity for you to designate your adult child as a substitute main applicant, ensuring that your citizenship can be passed down through future generations, extending beyond your grandchildren. We will delve deeper into this provision in our next blog. You can view the Amendment here.
The team at Citizens International is here to help you navigate these updates and optimize your investment strategy. Please do not hesitate to set up a free consultation to learn more about the changes or to get advice on time-sensitive decisions for your application.
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