Antigua & Barbuda Delays Implementation of New Citizenship by Investment Pricing

Date: June 27, 2024

Antigua and Barbuda's Citizenship by Investment Unit (CIU) has released a memo detailing upcoming changes to its Citizenship by Investment Program (CIP). Signed by Chief Executive Charmaine Quinland-Donovan, the memo outlines proposed adjustments to investment thresholds and submission procedures, which are part of an overarching Memorandum of Agreement (MoA) between OECS territories operating CIPs.

Initially slated for implementation by June 30th, the MoA mandates a minimum investment threshold of US$200,000. However, Antigua and Barbuda has requested a 30-day extension to finalize parliamentary approval processes, delaying the adoption beyond the original deadline. This decision contrasts with other Caribbean nations, which are proceeding with the new pricing structure effective July 1st.

Proposed Investment Thresholds

Subject to parliamentary approval, the CIU proposes the following changes to investment thresholds:

Contribution to the National Development Fund (NDF):

US$230,000 for families of 1 to 4

US$245,000 for families of 5 or more

Contribution to the University of the West Indies (UWI) Fund:

US$300,000

Real Estate:

US$325,000

Business Investments: Unchanged, with thresholds set at US$1.5 million for sole applicants and US$400,000 within a total investment of US$5 million in a joint venture.

Application Guidance and Fees

The memo also clarifies the documentation required for application submission, emphasizing completeness and accuracy. It stipulates a 21-day window for physical document submission following electronic upload, alongside details on processing fees:

*Processing fees remain at US$30,000 for single applicants up to families of four, excluding the UWI option where fees are included in the investment amount.

**For families of five or more, additional dependent processing fees are reduced to US$10,000 each (down from US$15,000).

***The CIU stresses the importance of submitting complete applications promptly, noting that files lacking required documents will not be processed until all criteria are met.

****The CIU encourages Licensed Agents and Authorized Representatives to ensure clients comply with the updated requirements to avoid processing delays.

This delay allows both Government Agencies and investors additional time to prepare, aligning with the CIU's commitment to maintaining a robust and transparent CIP framework.

Please feel free to contact us with any inquiries regarding Caribbean CIPs !