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Decision on Antigua & Barbuda CBI Program Price Increase

Major Update: Minimum Investment Price Increase to Antigua & Barbuda Citizenship by Investment Program

In response to recent developments in the Caribbean Citizenship by Investment (CIP) landscape, we want to share an important update regarding the Antigua & Barbuda citizenship by investment program. Significant changes to the minimum investment requirements are on the horizon, and it’s crucial for prospective applicants to be aware of these adjustments.

Key Changes to the Investment Thresholds

During a pivotal meeting among leaders of the five Caribbean CIPs in March, several modifications were agreed upon, including an increase to the minimum investment threshold across all countries. The formal memorandum from the Antigua & Barbuda Citizenship by Investment Unit, received last night, outlines the decision made on these changes:

  • Donation Route: The minimum investment level for the donation route is rising from $100,000 USD to $230,000 USD for a family of up to 4 people, and $245,000 USD for a family of 5 or more.
  • Real Estate Investment: The minimum investment level for property investment is increasing from $200,000 USD to $325,000 USD.
  • University of the West Indies (UWI) Fund: The UWI option will now require a minimum investment of $300,000 USD.
  • Processing Fees: The processing fees remain unchanged at $30,000 USD for a single applicant up to a family of 4. For families of 5 or more, processing fees have been reduced to $10,000 USD for each additional dependent.

Implementation Timeline

These changes are set to come into effect in Antigua & Barbuda after an additional 30-day parliamentary approval process. The new thresholds are expected to be implemented officially by July 30th, 2024. Applications submitted after this date will be subject to the increased minimums listed above.

Detailed Application Requirements

To facilitate the processing of applications, the Antigua & Barbuda Citizenship by Investment Unit has provided clear guidance on the minimum acceptable documentation required for submission:

  1. Forms and Identification:
    • Fully completed and duly signed forms (Citizens International can assist with this)
    • Copies of passport biographical page and another form of government-issued picture ID.
    • Copies of birth certificates and all valid visas held.
  2. Address Verification:
    • Utility bill issued within the most recent 3 months.
    • Signed lease agreement or documents of title.
  3. Income Verification:
    • For employed individuals: Letter of employment and/or pay slips for the most recent 3 months.
    • For self-employed individuals: Share certificate or recent share register, letter/certificate of Good Standing, most recent financial statement, and most recent 12 months of online bank statements.
  4. Net Worth Confirmation:
    • Bank holdings: Most recent 12 months of online bank statements.
    • Investment holdings: Most recent investment account statement (issued within the last 6 months).
    • Real estate: Documents of title and/or recent valuation.
  5. Additional Documents:
    • Affidavit of consent from parents of minors, investment agreements for real estate and business investment applications, and documentation for third-party fund submissions.

Within 21 days following the successful upload of an application with the minimum required documentation indicated above, the physical documents must be submitted to the Unit. Additional required documents include:

  1. Certified colored copies (or apostilles where applicable) of machine-readable ID documents listed above.
  2. Fully completed and duly signed passport forms.
  3. Bank reference letter, professional reference, sworn affidavit of support for each dependent over 18 years of age, and original passport-size color photos of the applicants and dependents taken within the past six months.
  4. Original excerpt of full birth record or certified copy of full birth certificate, original police certificate from any country where the applicant has lived for more than 6 months, and certified copy of proof of name change (if applicable).
  5. Original excerpt of marriage record or certified copy of marriage certificate, and certified copy of divorce documents (if applicable).

Time-Sensitive Opportunity

If you are currently in the process of collating your application paperwork with us, there is still time to complete and submit your application before the new deadlines. Acting promptly can help you avoid the higher investment thresholds. There are multiple available real estate options that you can take advantage of before the cut-off goes into effect – reach out to us now to act swiftly.

These changes reflect a commitment to valuing the citizenship by investment opportunity appropriately and signify a positive step for the region as a whole. We anticipate further developments, including potential increases and more residency requirements in the coming years. Stay tuned for more details in our upcoming communications.

With these significant changes on the horizon, now is the critical time to act. Do not hesitate to set up a free consultation to learn more about how we can help you secure your future in Antigua, ensuring your privacy and security every step of the way.