Antigua & Barbuda Citizenship by Investment Program Announcement Changes: Updated Prices and Requirements for Dependents

The Antigua & Barbuda Citizenship by Investment Unit (CIU) has announced changes to the Citizenship by Investment Program (CIP), which are expected to come into effect on August 1, 2024. This information was given by CIU CEO Charmaine Donovan, which outlines changes related to the definition of dependents, the appointment of a replacement application head and the minimum investment and associated fees.

Key changes:

1. Relaxation of requirements for dependents:

• Dependent children of the main applicant or his/her spouse are extended to age 30, including biological and legally adopted children. The new rule does not require proof of financial dependence on these children.
• The new law also allows the spouse of a dependent child to be added if he or she gets married after the application for citizenship is approved, provided that the dependent child is not more than 35 years old at the time of adding the spouse.

2. Appointment of the head of the replacement application:

• The main applicant may appoint an alternate head of application at the time of filing. This person must be at least 18 years of age and have the right to act on behalf of the main applicant in the event of the death or incapacity of the main applicant.

3. Minimum investment level:

• Investment in real estate: 300,000 USD
• West India University (UWI) / Higher Education Foundation: $260,000 (including processing fees)
• National Development Fund (NDF): $230,000
• Business Investment: Stay at $1.5 million for a single applicant or $400,000 out of $5 million if part of a joint venture.

Processing Fees and Other Fees:

Initial Application Fee:

• Single applicant: $10,000
• Family of four: $20,000
• Families of more than four: $20,000 plus $10,000 for each additional member

Additional fees after approval:

• Dependent children under 5 years old: USD 10,000
• Dependent children 6-17 years old: USD 25,000
• Dependents 18 years of age or older: $50,000

Background Appraisal Fee:

• Single applicant: $8,500
• Spouse: USD 5,000
• Dependent children up to 11 years old: Free of charge
• Dependent children 12-17 years old: USD 2,000
• Dependents 18 years of age or older: $4,000

Although the adjusted minimum investment for Antigua & Barbuda’s CIP is higher than the initial $200,000 level, they are still lower than the previous recommended levels on June 27. The 30-day delay for these changes is due to the requirement of the legal ratification process in the Parliament of Antigua & Barbuda, which allows the country to reassess and adjust the price bracket in accordance with the region.

Conclude

These changes reflect Antigua & Barbuda’s efforts to adapt the CIP program to align with regional and international standards, and to provide attractive conditions for international investors.

Contact Portico & Bridge now for more details and advice on the Antigua & Barbuda Citizenship by Investment program!