Various people are looking for second citizenship for themselves and their families. Having a second passport guarantees greater freedom for international travels. It also helps create peace of mind along with other financial benefits. There are loads of Caribbean island nations that provide citizenship, including Antigua and Barbuda. The information given below provides all details, including investment options, application cost, etc. It also showcases the benefits of citizenship for Antiguans.
What is Antigua Citizenship by Investment Program?
Antigua and Barbuda announced a Citizenship by Investment Program in 2013. This Antigua passport program offers full citizenship to all kinds of eligible applicants. In exchange for that, the person needs to provide a real estate project or a financial contribution.
Pros of applying for the program
There are various benefits available when you apply for citizenship. Some of them are given below:
Lifetime Citizenship
Applicants who become citizens have the right to live and work on the island. They also have the option to live on any other island that is part of the Caribbean Community. Applicants can also enjoy citizenship of Commonwealth countries in the UK and various others.
Minimum residency requirements
During the first five years, successful applicants only need to live for a minimum of five days. This is only applicable for the first five years before they can travel outside the country.
Visa-free travel anywhere in the world
All successful applicants will receive an Antiguan passport. This passport offers visa-free or visa-on-arrival access. The availability extends to 150 countries.
Attractive tax regime
You don’t have to pay any inheritance tax, capital gains tax, and wealth tax when you receive an attractive regime.
A quick application tracking process
The application process is quite straightforward and doesn’t take a lot of time. You receive a new Antiguan passport within 3 to 4 months.
A family-friendly program
All applicants are allowed to apply with their family members. This includes spouses, parents, grandparents, and many others.
Dual citizenship is permitted
Antigua and Barbuda allow dual citizenship under the Antiguan law. So, there is no need to worry about applicants who fear giving up their current citizenship.
Cons
A certain age required
Only people above the age of 18 are eligible to apply for citizenship. Children aren’t permitted to personally apply for their citizenship because an adult is required to fulfill the requirements.
Investment needed
An investment of a particular amount is needed. Without an investment that benefits the economy, the application will not be permitted. If you want to apply, you will need to show proof of an investment in real estate.
Who is allowed to apply for citizenship?
As said earlier, for applying to the investment program, the main applicant should be over 18 years of age. The applicant needs to meet the required investment levels of the investment options. These investment options include real estate or benefitting Antigua’s economy.
Applicants can include parents above the age of 58 years and children up to the age of 25 years. Documents required are a police report, a character report, and a medical certificate. A professional reference is a part of the application as well. The applicant has to hold on to the property for five years.
Investment options available
If you want to qualify for Antigua’s Citizenship by Investment Program, a financial contribution is needed. A significant contribution using the routes provided below has to be followed:
Real estate investment
An investment that is approved by Antigua real estate is the most popular option. Many applicants choose this option because they have a property in Antigua for at least five years.
A joint investment: $200,000 minimum
Independent investment: $400,000 minimum
Business investment
The applicant invests in an eligible business as a joint investor or a sole investor.
There are various other investment options available. The ones given above are the most popular choices for applicants.
Conclusion
The Antigua citizenship by investment program has been operating since 2013. It offers a significant cash donation option and a real estate option to investors. Getting Antigua citizenship has its benefits and comes at an affordable price. Thousands of applicants apply every year because of the program’s convenience. If you have any related queries, feel free to leave your comments.
