Antigua and Barbuda’s Citizenship-by-Investment program changes: What this means for you
The Government of Antigua and Barbuda has recently announced changes to their Citizenship-by-Investment program. These changes are outlined below.
The removal of Iraq from the restricted country list
After banning citizens of Iraq, Afghanistan, Yemen, Sudan, Iran and North Korea from applying for citizenship, Iraq has been given an exception. This allows applications for second citizenship for Iraqi citizens on 1st of April 2020.
If you are considering applying from Iran, North Korean, Somalia, Sudan and Yemen, please be aware that these restrictions are still in place. However, you can still apply if you have been a resident of any other non-restricted country for at least 10 years. You must also have no financial ties to any restricted country.
Purchase of a whole ownership unit: Reduced investment levels
You can now qualify for this program by purchasing a whole ownership unit at the $200,000 investment level. This has been reduced from $400,000.
The Government processing fees for the real estate option have been reduced from $50,000 to $30,000 USD for a family of up to four members. The CIU has increased processing fees for the National Development Fund Options (donation) from $25,000 to $30,000 for a family with up to 4 members. The changes aim to make the real estate option more attractive for you, if you are considering applying. Traditionally the donation option has been the most popular option.
Simplified temporary application procedure
The Government has also introduced a temporary application procedure and a list of Priority documents. These Priority documents would be enough to begin the process, although not as short as the list for St. Kitts. The rest will only be needed after the Priority documents have been assessed by the Government. This assessment would usually be a few months after submission.
This is a temporary measure that simplifies the start of the process. If you are considering applying, you will not need to wait for the quarantine to finish, to certify the relevant documents. Initially, it will be enough for you to provide 1/3 of the required documents. These would be in the form of scans and pay state. Fees. Once these required documents have been provided, they will be checked.
To complete the process, the certified copies of your original documents must be submitted before approval is granted.
Like the other five Caribbean countries, the Government have offered their Citizenship-by-Investment program to the investor seeking freedom of movement and business around the world.
Want to start the process now? Contact Astons Trusted Advisers to start the fast remote processing today.
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