21 Dec Citizenship by Investment in Antigua and Barbuda
Of the CBI countries, those located in the Caribbean Islands remain popular because they offer easy passport access, and Antigua and Barbuda is no exception. Today, Mark, Mona and Rebecca are joined by Charmaine Quinland-Donovan to discuss the advantages of the country’s citizenship program and the three different investment options. They cover the quick turnaround time from filing to approval, the residency requirements, and who qualifies as a dependent.
If you’re looking for a Citizenship by Investment program with an incredibly favorable turnaround time and multiple investment options, Antigua and Barbuda might be the right fit. Located in the heart of the Caribbean, the country boasts other advantages as well, most notably the opportunity to claim young adult children attending college or parents, grandparents and in-laws over 65 as dependents. Antigua and Barbuda also offers visa-free access to the UK, EU, Singapore and Hong Kong—among many, many others.
Charmaine Quinland-Donovan holds the honor of being the first national of Antigua and Barbuda as well as the first woman to lead the country’s Citizenship by Investment Unit. From its inception, she was influential in establishing the program’s policies and procedures, and Charmaine served as Chief Compliance Officer and Chief Operating Officer prior to her appointment as CEO.
Today Charmaine joins Mona, Mark and Rebecca in discussing Antigua and Barbuda’s citizenship program and its increase in popularity as of late. She explains the benefits of citizenship in the country, including the very short turnaround time, visa-free travel to 135 countries, and its generous definition of who qualifies as a dependent. Listen in for insight around the three available investment options and the 45 approved projects currently in the works.
Antigua and Barbuda’s Citizenship Program
- Antigua and Barbuda is located in the heart of the archipelago of the Caribbean Islands. A travel hub, Antigua boasts daily international flights.
- Antigua and Barbuda’s citizenship program has been up and running for four years now. A recent increase in the program’s popularity can be attributed to clear and established processes along with a favorable turnaround time.
Approval for Citizenship
- If your paperwork is in order, you can obtain approval for citizenship within six to eight weeks, followed by the processing of your passport. You do not necessarily need to be in the country for the approval process, though you must visit upon approval.
- The residency requirement compels you to visit Antigua and Barbuda for at least five days in a five-year period. This ensures that citizens can speak confidently about the islands in conversation.
- Investors looking for projects in Antigua and Barbuda have three options:
1) A one-time investment of at least $100K in the National Development Fund
2) A real estate purchase of at least $400K that is held for five years
3) An individual investment in business of at least $1.5M or group investment of $5M
- Barbuda was decimated by the hurricane this past September. The country temporarily reduced the minimum investment in the National Development Fund to raise the $200M necessarily to rebuild.
- There are 45 approved real estate projects in the works, and 28 of those have product in place. Only two projects on Barbuda were delayed by the hurricane.
- New construction projects endure a lengthy approval process that involves completing the application as well as providing a development plan for the site, information about the developer’s background, and proof of ownership. Projects to enhance existing properties must provide a business operations plan, financials, projections, historical accounts, and proof of funding.
- The Antigua and Barbuda citizenship program includes children from the ages of zero to 17. Children ages 18 to 28 who are full-time university students qualify as well.
- There is no age limit on children who are physically or mentally disabled. Parents, grandparents and in-laws 65 and older can be considered dependents too.
Benefits of Citizenship
- Antigua and Barbuda provides its citizens with visa-free access to 135 countries, including the UK, EU and Hong Kong. (You would need to apply for a visa to visit the US.)
- The country has an established business infrastructure and an educated workforce. Antigua and Barbuda also feature an American medical school. Upon completion, credits are easily transferred to the US.