Antigua Citizenship Program: People apply for secondary citizenship due to various reasons. For some, it’s due to several travel issues. For others, it’s because of frequent taxation problems. For people who love to travel, they consider it insurance. They want to avoid as many restrictions as they can, and they can only do so if they have another citizenship that gives them the freedom to visit the places they love. Other reasons might be for protection or to grab educational or job opportunities.
The demand for acquiring second citizenship continues to grow, which is why more and more countries are coming up with different programs to meet these demands. One popular program of acquiring a second citizenship is by investment or also referred to as economic citizenship. The United States has a “fast track” option for their foreign investors because they know people are willing to pay.
Antigua is another country that offers such a program. If you want to better understand the Antigua citizenship program by investment, read on.
Citizenship by Investment Explained
First off, you need to understand what citizenship by investment means.
This basically means investing your money in a country in exchange for citizenship. Countries create different programs that they offer to foreigners who want to be a citizen of their country. Foreigners can either invest or donate money to acquire a passport and enjoy privileges similar to that of a natural resident.
The amount depends on the country, but it ranges from a hundred thousand up to two million US dollars, exclusive of processing fees. This type of investment is one of the easiest ways to acquire a second passport, but quite an expensive one. The return on investment is great in the long run, so people are willing to pay the price.
The Three Program Options offered by Antigua
Make a donation. It’s the best option for families and the cheapest one out there. If you want to live in the Caribbean, all you have to do is make a donation amounting to $138,300 for individuals, or $147,200 for families with four members. Individuals can choose from the University of the West Indies and the National Development Fund as the receivers, while families’ donations go to the National Development Fund. For a larger family of six or more, they can make a donation amounting to $150,000 (plus $15,000 each for every additional member exceeding the sixth member). This donation will be allocated to expanding the University of the West Indies. These fees including additional costs round up the total amount of donation to $167,800.
Buy a real estate property in Antigua and Barbuda. Buying a residency in Antigua is not as simple as you think it is. To obtain a passport In the Carribeans, you can only look at properties approved by the government. The properties are usually overpriced, but you have no choice if you’ve chosen this option as your means. And since it’s overpriced, you won’t likely sell it in the future. So be 100 percent sure if this is the way you want to do it. This will cost you $200,000 excluding additional fees, and a minimum of $50,000 for application (plus $15,000 each for every additional dependent exceeding the third one).
Invest in an Antiguan business. Among the three options, this is the most expensive one. If you know your ways in the business industry and you’re really thinking of investing, then, by all means, go for it. But if you’re not familiar with business rules and regulations, don’t even consider this option because you’ll be throwing away your money without even knowing it.
Business investment in Antigua costs $1.5 million for individuals and a total of $5 million or higher for partners (at least two), each partner having a minimum investment of $400,000. And similar to real estate, you can also choose businesses the government has approved.
- The main applicant should meet the following criteria: no criminal record has enough money to donate or make a real estate or business investment, has an outstanding character, is in excellent health, should have lived in the country for at least five days within a period of five years.
- Declared dependents should meet the following criteria: wife with no criminal record and a marriage certificate, minor children aged 18 and below, up to 28 years of age (as long they’re unmarried or on full-time education), parents 65 and above; all should be living with and fully supported by the main applicant.
- Full citizenship
- Children aged 28 and below can be added as dependents (as long as they’re still single)
- Parents aged 65 and above can be added as dependents
- Travel to 134 countries without a visa
- Stay up to 90 days in your chosen Schengen zone country
- Passport acquired within four to six months
- Own five-star real estate properties
- Earn profit from properties after five years (through selling)
- Experience a tax-friendly government