Antigua & Barbuda’s Citizenship by Investment Unit (CIU) released data for 2023 and the first half of 2024 for its Citizenship by Investment Program (CIP). The program experienced unprecedented growth in 2024, reflecting the resilience and increasing appeal of its investment programs. According to the newly released Antigua & Barbuda Insights Report, the country saw a remarkable 205% increase in CIP applications in the first half of 2024 compared to the previous year, signaling robust investor confidence in the program.
Key Highlights from H1 2024:
1. Record-Breaking Application Numbers In just the first half of 2024, the CIP received 739 applications, surpassing any previous annual total. This influx comes as the program continues to expand, positioning 2024 as its best-performing year yet. This surge was likely spurred by the government’s announcement to raise minimum investment thresholds to align with other Caribbean nations, with the implementation date postponed to August 2024. The result was a rush of applications, underscoring the program’s competitiveness.
2. The National Development Fund Dominates The report reveals that 83% of applicants opted for the National Development Fund (NDF) donation route in 2024, closely followed by 15% who chose the real estate option. Historically, the NDF has been a preferred choice, showing consistent appeal as a straightforward and impactful route to second citizenship.
3. Leading Investor Nationalities The program’s top investor sources in H1 2024 included China (12%), the United States (11%), and Nigeria (9%), followed by a rising interest from Turkey, which accounted for 6% of applications. Nigerian investors previously dominated the charts in 2023, with a notable 33% share. This diversity reflects Antigua & Barbuda’s broad international appeal, with investors from different regions recognizing the strategic advantages of Caribbean citizenship.
4. Consistent Naturalization and Passport Issuance With 622 new passports issued in H1 2024, the CIP is on track to naturalize approximately 1,244 individuals by year’s end. These numbers align closely with previous years’ outputs, highlighting the government’s effective processing infrastructure to handle an influx of applications without compromising quality and timeliness.
5. Economic Impact The report emphasizes that the CIP contributes nearly 60% of Antigua & Barbuda’s non-tax revenue, underscoring its significance to the nation’s economy. With revenue estimates projected around US$67 million for 2023, the CIP remains a crucial contributor to national development, funding infrastructure, public services, and socio-economic projects that benefit the wider community.
A Look Forward: Strategic and Sustainable Growth
Antigua & Barbuda’s 2024 performance showcases the island’s resilience and adaptability in the evolving investment landscape. The surge in applications highlights the global demand for reliable second citizenship options, and the government’s decision to align CIP thresholds with other Caribbean nations reflects a proactive approach to maintaining competitiveness. Additionally, this record-breaking year underscores Antigua & Barbuda’s ongoing commitment to transparency, economic sustainability, and investor appeal.
For those interested in exploring Antigua & Barbuda’s CIP benefits or considering second citizenship, Citizens International offers personalized free consultations to walk you throughout the process. Reach out to our team to learn more about how this program can enhance your global mobility, financial planning, and lifestyle options.
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