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June 24, 2020

Antigua & Barbuda reveal post-pandemic plans

PM Gaston Browne explains that throughout the pandemic the country’s CIP has continued to receive a steady stream of enquiries.

Like many of its Caribbean Citizenship by Investment counterparts, Antigua & Barbuda delivers a CBI program comprising of a number of investment options, from a non-refundable donation into its National Development Fund, to real estate and business investments, all with comparatively competitive costs.

A resilient Caribbean country

A sovereign twin-island state, located in the West Indies, Antigua & Barbuda unveiled its CBI program in 2013 as a way, like most of its Caribbean counterparts, to boost its economy and provide funds to help sustain its public services.

A resilient country, during the five decades since 1967, when development decision-making moved from the colonisers to the colonised, “Antigua & Barbuda has experienced incredible growth”, Prime Minister Gaston Browne recently told Citizen magazine.

“Since 1981, when sovereignty and independence were achieved, the country’s economy has grown ten times as large and productive. In 2018, Antigua & Barbuda experienced 7.4 per cent growth, and our passport was ranked the 10th worldwide.”

And, according to the Doing Business Report by the World Bank 2019, Antigua & Barbuda has the third highest economy in the Caribbean.

Antigua and Barbuda citizenship by investment

CBI program throughout pandemic

And even with the current international climate, Antigua continues to ensure the competitiveness and attractiveness of its CBI program, having recently restructured its fees for its University of the West Indies Fund (UWI) to make it highly affordable for large families to acquire second citizenship in the country.

Prime Minister Gaston Browne recently told Citizen magazine that the country’s CIP has continued to receive a steady stream of enquiries and its activity hasn’t noticeably diminished. “We have experienced a robust CIP record by giving the necessary assurances to the agents and the firms that advise those with an interest in a second citizenship.”

He adds: “Our programme continues to attract high-net-worth individuals and fortunately interest has remained high and is continuously increasing. The Antigua & Barbuda passport is still among the most attractive out there.”

Post-pandemic change

Asked whether the pandemic would have an impact on decisions the government would make economically moving forward, Prime Minister Gaston Browne said that the government had already started to plan the economic diversification.

“The challenges of previous decades remain, however, new energy and creativity are being readied for the new world, especially in agriculture, light manufacturing and in the knowledge industries, as well as commercial technologies to include apps, blockchain technologies, and crypto currencies. We are also diversifying into cannabis and medical education and medical tourism.”

He concludes: “In the new era, post-Covid-19, when the world is likely to be reshuffled, our people’s creativity and resilience will again be put on display.”

Antigua & Barbuda’s CBI Program

There are four types of investment which will qualify applicants for citizenship in Antigua & Barbuda. Applicants can choose between a non-refundable contribution to the National Development Fund (NDF), to The University of the West Indies Fund, purchase property in a pre-approved real development, or in an approved business venture, with costs ranging from $100,000 for a donation to the NDF for a single applicant, to investment of $400,000 in a property or $1.5m in a pre-approved business.

To find out more, read our Antigua & Barbuda Country Profile. Click here.