Antigua and Barbuda Profile | Legal Background | Program Details | Program Advantages

 


Antigua and Barbuda Profile:

Antigua_and_Barbuda_SymbolSovereignty: Antigua and Barbuda is a twin-island lying between the Caribbean Sea and the Atlantic ocean. Queen Elizabeth II is the Sovereign and Head of State.

Location: Antigua and Barbuda lie in the eastern arc of the Leeward Islands of the Lesser Antilles, separating the  Atlantic Ocean from the Caribbean Sea.

Government Type: A Constitutional Monarchy  and a Commonwealth realm with Queen Elizabeth II as the Head of the State since 1981. 

Interesting Facts: From the unique pink sand of Barbuda to the golden tapestry woven along Antigua’s coastline, there is a beach of distinct beauty and absolute tranquility.  

Population: A population of 90,000 and a land area of 440 km2.

Demographics:  Ethnic groups include black 91%, mixed 4.4%, white 1.7%, other 2.9%.   Religions Protestant,  Roman Catholic, and Christians. 

Economy: Tourism dominates the economy of Antigua and Barbuda, accounting for more than half of the Gross Domestic Product (GDP).  Antigua is famous for its many high and high-end luxury resorts. Moreover, Investment banking and financial services also make up an important part of the economy.   Manufacturing is made up of enclave-type assembling for export, the major products being bedding, handicrafts, and electronic components.  Following the opening of the American University of Antigua College of Medicine in 2003, a new source of revenue was established.

The government of Antigua and Barbuda has recently signed a Memorandum of Agreement (MOA)  with Sandals resort International for a Multi-Million Dollar Beaches Resort Project. It is said that this project will triple employment opportunities during and after the construction phase.


Legal Background:

Flag_Antigua & BarbudaAntigua and Barbuda Citizenship-by-Investment Act, 2013 No. 2 of 2013 was published in the Official Gazette Vol. XXXIII No. 20 dated April 11, 2013. The program aims to enable persons to acquire citizenship of Antigua and Barbuda by registration following investment in Antigua and Barbuda and for incidental and connected purposes. The program was enhanced by the Parliament of Antigua and Barbuda.


Program Details:

  • Antigua & Barbuda Citizenship-by-Investment Program leads to full citizenship within approximately 6  months.
  • Inclusion of dependent children under 18 years old, and dependent parents or grandparents over 65 years old.
  • Only 35 days physical residency requirement during the period of five calendar years after the applicant’s registration. 
  • No requirement to travel to Antigua and Barbuda during the application process.
  • Visa-free travel to more than 130 countries including the entire Schengen Area, UK, Canada, Switzerland and Hong Kong…etc

Potential Clients should make an investment in a government-approved real estate development OR make a monetary contribution to the National Development Fund.

Investment Options are detailed below:

Option 1: A Non-refundable Contribution to the National Development Fund Based on Regulation No.(7) of Citizenship by Investment Act No. 2, 2013 of at least US$250,000.

 

Option 2:  The Real-Estate Investment Option based on the Regulation No. (6) of Citizenship by Investment Act No. 2, 2013:

  • Where an applicant executes a binding purchase and sale agreement with a developer of an approved project within an approved development area. Conditional upon the applicant being  approved for citizenship-by-investment, an application may be submitted on his behalf by an  Agent.
  • The full purchase price of the real estate shall be at least US$400,000.
  • Beneficial ownership of real estate shall be permissible only through a company that is not a  non-profit company.
  • The real estate unit cannot be sold by the investor before the expiry of the period of  (5) years or before the proposed development has been substantially completed unless exempted by Cabinet for good and sufficient reason.

 

Option 3:  The Business Investment Option based on the Regulation No. (9) of Citizenship by Investment Act No. 2, 2013:

  • The Unit of Citizenship by Investment shall approve business, whether existing or proposed.
  • The minimum amount to be invested in an approved business is US$ 1,481,481.48.    

OR

  • At least 2 persons to make a joint investment in such an approved business totaling at least  US$5,000,000 and each of those persons individually proposes to contribute at least US$ 400,000 to the joint investment. 


Program Advantages:

  • No Personal Income tax.
  • No Estate, Death, Inheritance or Capital Gains Tax.
  • No restriction on the repatriation of profits and imported capital.
  • Economically, legally and socially stable country part of the Commonwealth with democracy based on British parliamentary system.
  • Security from potential taxation reform in Europe and North America.
  • Citizens of Antigua and Barbuda are allowed to have dual citizenship. So they can enjoy the benefits and advantages of being part of the citizenship by investment program without having to renounce their existing citizenship.
  • Citizens of Antigua and Barbuda are free to travel to more than 115 countries worldwide without a visa, these include countries such as Austria, Belgium, Canada, Denmark, France, Germany, Greece, Italy,   Malta, Netherlands, Poland, Portugal, Spain and the UK.
  • There will be no direct taxes in Antigua and Barbuda for citizens approved under this proposed program, namely personal income tax, net worth tax, gift tax, or estate duty tax.
  • Any applicant will have the ability to spend as much time in Antigua & Barbuda as he/she wishes. Whether enjoying one of the 365 beaches dotted across this island paradise or sailing along the coast, snorkeling, diving or just having lunch at one of the 5 star resorts or boutique beachfront restaurants.
  • A stress free life style while enjoying the most comfortable climate where the sun shines every day.